Development of a Non-Qualified Loan Platform Enabling Alternative Credit Approaches

Customers seeking loans often face strict qualification criteria, leaving many without access to essential credit. The client aims to address this gap by offering alternative lending methods tailored to those who do not meet traditional qualification standards, ensuring broader financial inclusion and reducing barriers to credit access.

A financial institution specializing in providing non-traditional lending solutions, aimed at customers who do not qualify for conventional loans, serving a broad consumer base seeking alternative financing options.

• Develop a digital platform that facilitates non-qualified loan applications using alternative assessment methods.
• Enable customers to quickly access loan options even with limited or unconventional credit histories.
• Streamline the loan approval process through automated, data-driven decisioning to improve turnaround times.
• Target an increase in loan approval accessibility, aiming for a 20-30% growth in customer onboarding within the first year.
• Ensure secure, scalable, and compliant technology infrastructure to support increased transaction volumes and sensitive data handling.

• User onboarding with identity verification and secure data capture.
• Alternative credit scoring models incorporating non-traditional data sources.
• Loan application submission and status tracking dashboards for customers.
• Automated decision engine based on predefined risk criteria and machine learning models.
• Integration with external data providers for credit and financial history verification.
• Secure payment processing and fund disbursement mechanisms.
• Administrative interfaces for loan management, monitoring, and reporting.

• Financial data aggregators for alternative credit assessment.
• Identity verification services (KYC providers).
• Payment gateways for disbursement and repayment processing.
• External credit bureaus for supplementary credit data if applicable.
• Regulatory compliance monitoring tools.

• High system availability with 99.9% uptime.
• Response times within 2 seconds for key user interactions.
• Data encryption both at rest and in transit.
• Compliance with relevant financial regulations (e.g., GDPR, PCI DSS).
• Scalable architecture supporting 10,000 concurrent users initially, with capacity to expand.

The new platform aims to increase loan accessibility for underserved customer segments and reduce application processing times, leading to an estimated 25% growth in approved loans within the first year. Enhanced data-driven decisioning is expected to improve risk management and reduce default rates, while scalable infrastructure prepares the organization for future growth and innovation in alternative lending.