Microfinace End to End Digital Lending Software
How Can CompassWay Help You?
- Platform provides efficient solution for the whole life cycle of every loan with specialized built-in modules for origination, risk assessment, loan management, report generation.
- It has been developed as a scalable platform that helps to automate all business process in your organization there by helping your business improve efficiency, reduce operational expenses and grow your portfolio.
- With us you automate all those manual tasks that keep you from growing your business, have a multi-product lending system that will help to retain customers because they no longer need to look for other lenders for their needs – everything is in one place, one platform - many solutions.
Benefits Brought by CompassWay
- Reduce operational costs by 30–50%
- Automate all aquisition operations
- Maintain high service levels of borrowers
- Scale your business
- Our Loan Origination Software helps MFI completely digitalize the onboarding experience. .We have solutions for almost any asset class, from BNPL to business loans, and we can support new and creative idea of products. Currently, our lending management solution is capable of handling 12 different types of loan products.
- A well-organized and easy-to-follow application process. Establishing your own parameters for any stage of the lending process. Customizable scorecards and credit decisioning parameters Automatic document generation and electronic signature.
- The process of issuing a loan involves a series of steps right from acquiring a borrower, to processing their information, to vetting their credit standing, documentation and then finally either approval and disbursal of funds or disapproving the loan.
Manage Risk and Control Default
Use the best credit-risk management practices when managing your portfolio. Solution offers scorecards that can be customized, built on proprietary models that combine traditional and alternative borrower-evaluation methods and information sources. To lower loan risks and approve more qualified borrowers, use your own evaluation standards.
Business Rule Engine
Use business rules editor to design, create, and test business rules, scorecards and decision strategies. Seamlessly test, deploy and operationalize decision strategies in real-time Reduce the development time from months to days by automatically training, testing, monitoring and controlling your model.
Credit Decisioni Modelling
With the help of artificial intelligence (AI and ML tools) financial companies can better identify specific variables to define new customer segments, creating segmentation rules, building and validating dedicated scoring models, and improving predictive power.
Robust functionality for underwriting and risk management process to minimize the risk of underserving acquired client
Make Fast and Accurate Credit Decisions
Apply both traditional and alternative credit scoring methods to improve your credit decisioning accuracy using the ML model and A/B testing. Analyze large amounts of big data to find patterns that will dramatically improve the accuracy and speed of your credit decisioning . .
Reduction of Credit Loss Rates
Companies have reduced their credit losses by 20 to 40 percent by using models that can more precisely predict customers' likelihood to default. That element affects the levels of provisions and capital that a bank must hold.
Self Service Repayment
A highly efficient software solution must be simple. Every contact between your staff and customers is automated, monitored, and recorded in our user-friendly loan management workspace.
Authorize users to utilize the workspace, service loans from a unified interface, and get the benefits of a fully integrated lending solution.
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.
Generate Unique Reports to Follow Your Business Performance
Compassway Dashboard section allows to create variety of reports to manage your loan portfolio and make informed decisions about loan origination, servicing, and risk management in customizable formats. Compassway Dashboard section can help you improve data quality, ensure data governance, and gain insights from data. It is easy scalabile and integrated with other companie's software."
Digitize Operations to Enhance Productivity, and Increase Growth
- Platfom is designed to seamlessly process micro credit which gives MFIs the flexibility and capability to acquire customers and by automating the acquisition processes. The system provides immense configuration and operational efficiency which enable organizations to efficiently manage a high volume MFI business and acquire profitable customers.
- Set up automated or manual workflows. Leverage third party resources.
- Accurately assess and qualify customers for the appropriate loan product.
- Reduce process time -overall lending process from 3 days to 2 mins.
- Improve data quality and speed through flexible end-to-end workflows between the front and back office.
Elevate Digital Lending Customer Experience
Designing an Effective User Onboarding Expirience
Modern loan origination systems offer a better user experience with a smarter interface that lets clients move through the process without needing much guidance.
Improve the Personalization and Consistency of Your Communications
By choosing the robust digital lending platform you will be able to orchestrate .the truly seamless digital lending and put the customer in the center of the lending journey.
Getting Return Customers in Your Credit Union
CompassWay’s digital lending platform displays personalized loan recommendations to existing borrowers to expand the possibilities of making them repeat customers.
Achieve Higher Retention Rate
Use loan applications for return customers by automatically pre-filling forms with existing client information. Orchestrate your digital sales funnels to guarantee the relevant questions, steps, and experiences are presented to your customers at every digital touchpoint.
The Power of Digital Lending Platform
How to Choose the Right Lending Automation Software for Your Business