LMS (Loan Management System)

About

LMS is a Multi-Tenant platform that provides a SaaS solution for automating microcredit processes.

The LMS project belongs to the domain of financial services in B2B market segment.

Challenges

Client’s requirements were high-leveled from the very beginning. The New Line Technologies team took on the following challenges when implementing:

• To create a SaaS solution that would allow customers to automate micro loan management;
• To implement a flexible and customizable decision-making system for the providing the credit on the basis of information from credit agencies and self-declared parameters;
• To implement a flexible and customizable system for creation and editing the credit products for the supporting Installment Loan and Credit Line products;
• To automate payment and collection processes
• To automate business processes according to the life cycle of a credit product;
• Integration with credit bureaus, Open Banking provider and acquiring systems.

Solutions

Taking into account a number of tasks and periodically changing customer requirements, it was decided to build a project on the RAD model, which in the last stages was transformed into Kanban for a smoother transition to the support stage.

The New Line Technologies team has developed a platform that consists of a logical core, responsible for basic business processes and computing, a back office portal, through which configuration and management and a personal API for integration of client applications:

• The platform offers a range of opportunities to support microcredit companies;
• The platform supports two types of loans: Installment Loans and Credit Lines, with flexible adjustment of credit products for each class;
• The system of automatic decision-making based on information from credit agencies and information provided by a potential client has a lot of flexible settings;
• Automation of the processes of payments collection, generation, and signing of documents, collection of credit, and communication information;
• The product supports integration with many providers such as Direct Debit systems, credit agencies, distribution services, and card payment systems.

Results

The Loan Management System project is live, actively marketed as a SaaS solution, and continues to evolve.

From a management point of view, the project turned out to be interesting. The LMS project has undergone a phased design change, rebranding, and several versions of requirements. The risks associated with inconsistent requirements and ever-changing scope of work have been minimized by frequent releases and regular demos, motivated and well-organized work of the New Line Technologies team, and implementation of Change Request Management practices, and best practices in requirements analysis.