Evolution of Peer-to-Peer Lending

About Client

A US based financial company providing B2B financial services.

The Requirements

To automate the manual process for the peer-to-peer loan application processing for small merchants across the globe as a web application that is automatically synchronized. There was a need of centralized database from where the management can monitor activities in the system.

The Challenge

  • • To manage tasks & renewals for loan officers efficiently &effectively
  • • To create community platform for peer-to-peer loan servicing between merchants & the businesses
  • • To create centralized database
  • • To take timely back up of data
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The Solution

Acuratech Global develops system that will automate existing manual work done during loan application processing. A series of tasks are performed by Organization Employees for giving loan to a merchant/customer. Currently, these tasks are assigned manually. Files are moved to next officer once a task is completed by one officer.

These tasks are assigned based on their roles. The new system will automate process of task assignments. The completed tasks will be moved in queues of next person to review application. Credit check of the merchant will be automated by using credit reports. Also, collection of Credit Card Sales will be automated using VisaNet and CardNet processors APIs. However there will be provision to manually enter statements.

New system will also be integrated with SalesForce and the newsystem will be synced on regular basis to provide updated status to sales reps. Sales reps will be able to track status of merchants/contracts in sales force.

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