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Loan Servicing

Inteligent solution to automatically manage and track a complete loan lifecycle

Innovative, fully automated  — whatever it takes to minimize risk, improve efficiency, and make lending easier for everyone involved. Automating the entire loan lifecycle is what we do best.

Compassway Digital Loan Management system offers you with an effective toolset to serve your clients of all sizes, whether you are just starting your lending business or are already an established loan provider.

Adding new items to your portfolio has never been easier - you can quickly configure a new product, conduct the appropriate tests, and reap the benefits of launching new products in days. This creative, versatile, and unified set of solutions will assist your company in meeting current and future banking difficulties.

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Meeting your business needs

1. Cut operational costs by automating every stage of the loan management process.

2. Make customer experience better by introducing a user-friendly interface.

3. Increase the average lifetime value by providing an effortless lending experience.

Finding the right loan management solution

Processing Statements Digitally Instead of Using Expensive Paper Statements.

Automatic Updates of Borrower Credit Bureau Data.

Highly Efficient File Management for Customers and Workers.

Push Account Alerts and Payment Reminders. 

Automatically Monitoring Employee-Client Interactions.

Installment and Interest Payments using Automatic Bill Payment and Direct Debits.

Compassway revolutionizes customer onboarding with these advantages

The system can be easily integrated with various tools and core lending systems.

Machine learning significantly improves credit decisioning accuracy rate.

Well-designed mobile applications with efficient functionality.

Providing reliable preconfigured third-party integrations needed for digital lending.

Smart servicing automation to suit any lender

Banks.

Financial Enterprises.

In-house Lenders.

Discover Product Details

 

Loan management capabilities

Flexible loan management across Retail, SME and Corporate sectors.

From disbursement through loan termination, the Compassway Loan Sevicing System automates the  loan account administration activities. The Loan Servicing System  manages all transactions linked to the company's maintained loans and provides a comprehensive solution for the administrative chores. Throughout the life of a loan, the Loan Management System  supports both retail and corporate credit processes.

All around event handling

The  Loan Servicing System can manage all forms of loan lifecycle events and transactions, can effectively handle early repayment or rescheduling, expiry, and termination. There are more than 40+ event types for different use-cases in the system. For your effective operation and utmost efficiency, these events are supported by daily calculation of interest, fees, fee handling, notification creation, and automatic collection at the due date.

Product Catalog 

The product catalogue allows you to identify products . The product specification describes which parameters of a specific transaction type are fixed and which values can be modified within a certain range. You can freely create customised product structures, and getting a new product or idea to market has never been easier.

Flexible repayment structure and Fee 

The system has a very customizable repayment structure generator built in, which includes annuity and other repayment calculations. The feature can do the following:
Take care of the repayment conditions and deadlines.
Encourage the payment of interest and fees on a regular basis.
In the calculation, use the interest rate change dates.
Take care of the grace period.
The system can apply fees to any event that happens during the lifecycle of the loan. 
The fees are:

  • Flexible fee and commission definition by product type, transaction type and client segment;

  • Various fee calculation methods: fixed or percentage combination.

WHAT CUSTOMERS SAY

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We used to have an older system that required more than a day to update or deploy a new risk model. In addition, credit decisions were slow. We estimated we were losing 15% of customers due to abandoned applications. For millennials, who are now a majority of our clients, responsiveness and convenience are key for lending services.
We implemented an end-to-end digital lending platform offered by CompassWay and it allowed to significantly improve customer retention. Up-to-date risk models also mean lower defaults rate and improved profitability. The system is easy to work with in case we need to add new clients or product types. We also received excellent customer support from CompassWay team. Overall very satisfied with the upgrade decision.

Denis Bobrov, CFO of CreditUP