Microfinace End to End Digital Lending Software

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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

Loan Origination

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.

Risk Assessment

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.

Risk Profiling

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.

Loan Management

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.

WHAT
CUSTOMERS SAY

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 BobrovCFO of CreditUP

Our key clients are SME firms that sell their products using social media platform such as Instagram and Facebook. They have magnitude of various products and various preferences in the lending options they would like to provide to their customers. Thus, we needed a powerful, yet flexible and simple system, which would allow quick onboarding of new clients and their products. CompassWay offered a solution that not only satisfied these criteria but also was intuitive and easy for the customers of our clients. That allowed to create a seamless shopping experience, as well as improve customers’ satisfaction and rate of completed sales. For our team, working with CompassWay was very easy. Since the system was highly customizable out of the box, we were up and running in just several weeks. We also benefitted from their business expertise and improved a weak link in our processes we did not know was a problem. Highly recommended company to work with.

Irina SenenkoHead of Customer Service at PIE CREDIT

Nowadays, the competition in online trading is stronger than ever. In order to outperform the rest and come out ahead, we needed to provide our customers with services that would keep them on the site. Many buyers came to our online store, but there was much less talk about sales. We reached out to the Compassway team for help because Compassway is in the business of developing and implementing advanced digital solutions, and they advised us to first consider implementing a product on credit or in installments. Indeed, most often the reason that buyers leave the site without making a purchase is banal: they do not have enough money. We listened to advice, and now every customer who enters our website and selects a product immediately sees the "buy on credit" button with a convenient loan calculator and BNPL option in the checkout. He understands that he can afford to buy now, and pay later and in installments. As a result, it was possible to increase profits and total sales by 30%, as the client now purchases a product of a higher price category, or increases the number of purchases.

Natalia BurkoHead of Business Development at Taksaexpress