Software Products LMS (Loan Management System)

LMS is a lending software or loan system for Lending Offices/Institution that is designed to handle lifecycle of a loan post. The LMS is responsible for managing the lender's portfolio of loans, providing the lender with the flexibility to set different lending rules for different loans which allows for seamless testing of different underwriting.  This includes the preparing of debit and credit instructions for ACH (Automated Clearing House) as well as renewing each loan according to a set of loan rules.


This gives the lender the ability to easily offer additional lending products such as Installment Loans, Vehicle Loans and Jewellery Loans.  It further allows lender to lend both nationally and in different countries.


The LMS also has a set of sophisticated controls and automated rules that improves the accuracy of certain processes that have a direct and substantial impact on the lenders ability to claim their loan payments due and, hence, to increase their profitability.

       

Features

   

1) Receipt: A written acknowledgment that a specified article or sum of money has been received. A receipt records the purchase of goods or service obtained in an exchange.

 
    (a) Cash Receipt(C.R)

C.R is a document of a transaction that is often issued at the time of the completion of a sale. Businesses issue it as a matter of course. C.R serves two purposes:

   
  • As a permanent record for the vendor.
  • To keep the financial records of the client up to date.
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      (b) Duplicate Receipt

    It cannot be printed in any case. It should be inserted an advertisement in newspaper and after that the duplicate receipt will be given.

           
      (c) Update Receipt

    ITo update customer receipts annually

           
      (d) Receipt Reports

    IThe Receipt Report indicates all funds manually added in your Sub-Reseller/Customer's Debit Account by you, in any previous month.

           
    2) Loanee Registration
      (a) Registration

    Is the process where we add details of the Loanee.

           
      (b) Update Registration

    Loanees are legally required to renew the    registration annually.

           
      (c) Cashier Payment/Vehicle Release

    An employee responsible for totals purchases and collects payment (in cash) for goods, services etc.

           
      (d) Loan sanction Reports

    After all the documents are submitted by the Loanee, Bank will evaluate the loan application. The Bank will check all the information incase if the Bank is not convinced about the credentials, application may get rejected. If it is satisfied, it sanction the loan, once the loan is sanctioned the banks sends an offer letter and a reports.

           
    3) Repayment
      (a) Repayment

    The act of paying back money previously borrowed from a lender. Repayment usually takes the form of periodic payments that normally include part principal plus interest in each payment. The other common method of repayment is a lump sum with interest at maturity.

           
      (b) Reports

    Creditors will report repayment plans annually.

           
    4) Stock
      (a) Stock entry

    Entry of how much vehicle is in stock.

           
      (b) Vehicle Registration

    Registration of how many vehicles have been purchased by the customer every day.

           
      (c) Update Vehicle

    To renew and update annually the registration of the vehicle which is already sold.

           
      (d) Stock Report

    To report annually how many vehicles has been sold and how much is left.

           
    5) Expenditure
      (a) Enter Expenditure

    To enter payment or the promise of a future payment especially funds, disbursement and consumption.

           
      (b) Update Expenditure Pending

    Update the pending.

           
      (c) Reports

    To reports annually the payment which is done.

           
    6) Database backup : The process of database backup is making copies of data which may be used to restore the original after a data loss event. There are two distinct purposes
       A primary purpose is to recover data after its loss, be lit by data deletion or corruption.
       A secondary purpose is to recover data from a earlier time.

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