Development of a Secure Digital Consumer Lending Platform with End-to-End Loan Lifecycle Management

The client, an established offline lender, faced difficulties in shifting to the digital space, including the need to rapidly develop a functional MVP supporting core loan operations, creating a user-centric onboarding experience, integrating legacy processes with new technology, ensuring regulatory compliance, and building a scalable infrastructure from scratch to support future growth.

A mid-sized financial institution transitioning from offline to digital lending, aiming to modernize their consumer loan operations and improve user experience.

• Design and launch a fully functional MVP within a reduced timeframe to enable quick market testing and user feedback collection.
• Create a seamless, intuitive onboarding process that simplifies application submission and boosts borrower engagement.
• Implement comprehensive loan management and servicing tools supporting loan origination, modifications, payments, prepayments, settlements, and adjustments.
• Develop automated underwriting capabilities to expedite loan approval processes while maintaining regulatory compliance.
• Establish a secure, compliant payment processing system supporting ACH/NACHA transactions, automated notifications, and error handling.
• Build a scalable architecture capable of supporting future feature expansions and increased user volume.

• Intuitive borrower application form with step-by-step guidance, document upload, and progress tracking.
• Seamless onboarding flow with clear instructions, status updates, and management of multiple loan applications.
• Loan portfolio management tools enabling origination, modifications, prepayments, settlements, and reversals, with audit trails.
• Automated credit risk assessment and fast decision-making based on predefined rules and external data integration.
• Secure, flexible payment processing supporting ACH/NACHA transactions, failed payments handling, late fee application, and automated reminders.
• Real-time loan tracking dashboard for lenders, including balance overview, due date monitoring, and repayment history.

• External credit bureaus for credit risk assessment
• Payment gateways such as ACH/NACHA processors
• Identity verification and KYC providers
• Notification services for automated alerts
• Cloud monitoring tools for system performance and security

• System must be scalable to support increased user volume and feature expansion.
• Response time for user interactions should be under 2 seconds.
• System must adhere to relevant financial regulations such as KYC, AML, and data security standards.
• Availability target of 99.9% uptime, with automated monitoring and alerting.
• Secure data encryption for all transactions and sensitive information.

The development and deployment of this digital consumer lending platform are expected to significantly streamline loan operations, reduce processing times through automation, enhance borrower experience, and ensure regulatory compliance. Anticipated outcomes include faster loan approval cycles, increased customer onboarding efficiency, improved security and data integrity, and scalable infrastructure supporting long-term growth goals.