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Development of Scalable Digital Consumer Lending Platform with Automated Loan Management and Secure Payment Processing

artkai.io

Financial services

Challenges in Digital Transformation for Traditional Lending

Established offline lender requires rapid digital transformation to meet evolving customer expectations, modernize legacy processes, and compete in the digital lending market while maintaining regulatory compliance and ensuring seamless user experiences during the transition from physical to digital operations.

About the Client

Well-established US-based consumer lending company transitioning from offline to digital lending operations

Objectives for Digital Lending Platform Development

Accelerate time-to-market with a fully functional MVP for consumer lending
Create borrower-centric digital onboarding and loan application processes
Digitize and automate legacy lending workflows
Implement robust compliance controls for KYC/AML regulations
Build scalable architecture for future growth and feature expansion

Core Platform Functionalities

Step-by-step loan application with document upload
Real-time loan status tracking and management
Automated underwriting with rule-based decisioning
Flexible payment processing with ACH support
Loan modification and repayment schedule adjustments
Comprehensive lender dashboard for loan servicing

Technology Stack Requirements

React.js with TypeScript for frontend

Node.js with Nest.js for backend

PostgreSQL for database

AWS cloud infrastructure

Firebase for authentication

Stripe/PayPal for payment processing

Third-party System Integrations

KYC/AML verification services
Credit bureau data APIs
SMS/email notification services (Twilio/SendGrid)
Payment gateways (Stripe/PayPal)
Cloud monitoring (AWS CloudWatch)

Critical System Requirements

Enterprise-grade data encryption and security
High-availability architecture with 99.9% uptime
Regulatory compliance framework
Scalable microservices architecture
Real-time transaction processing capabilities

Expected Business Impact of Digital Lending Platform

Enables rapid market entry with MVP-driven approach, reduces loan processing time by 70% through automation, improves borrower retention with seamless digital onboarding, ensures compliance with financial regulations from launch, and establishes foundation for scaling to 1M+ users with modular architecture.