TH
JP
If we look back about 4–5 years, anyone who needed to apply for a loan had to visit a bank branch or loan company to fill out an application form and submit the necessary documents. If the documents were not complete, they had to return to complete them, causing delays in the loan approval process.
Nowadays, by connecting to the internet, you can easily apply for loans through your computer or mobile phone. Some loan service providers can even review and approve your credit limit immediately, greatly simplifying the process for borrowers. In addition, providing fast service increases opportunities for lenders to attract new customers.
Today, we would like to introduce “Looms”, a loan origination management system that enables applicants to quickly and easily apply for loans. It is suitable for all types of lending businesses looking to enhance their services and expand their customer base.
What is the Looms?
Looms is a loan origination system that digitizes every stage of the loan lifecycle, as below:
- Loan application: Loan applicants can easily apply for loans through their smartphones by simply connecting to the internet.
- Loan approval: Lenders can review loan applications and make decisions to approve or reject them through the system immediately.
- Loan Disbursement: Loan applicants simply register their bank account information for receiving funds. Once the loan is approved, borrowers will receive the loan amount in the designated bank account.
- Repayment: loan applicants can view the details of their loans including repayment schedule, payment channels, and outstanding balance.
- Debt Collection: Lenders can view overdue reports and record debt collection steps.
Structure of Looms
1. White-label borrower portal
We designed the system as a white-label solution, enabling you to create your own loan brand. Your customers can apply for loans and upload the necessary documents through the system without visiting a branch of the loan service provider.
2. Loan Origination System (LOS)
It is a back-end system that allows service providers to review loan application information. The system automatically collects application data, enabling you to evaluate and make approval decisions based on your custom decision flow.
3. Loan Management System (LMS)
This is a back-end system designed to track customer payment. The LMS creates and manages loan contracts for customers and assigns debt collection tasks to employees for overdue payments.
Advantages of using Looms in loan business
✔ Personal Lending
- Reduce processing time.
- Increase opportunities for customer acquisition.
- Streamline loan application, approval, and servicing processes for all types of personal loans, providing a seamless experience for your customers and allowing them to manage their loan portfolios from anywhere.
✔ SME Lending
- Utilize data analyzed by Looms to help you make quick decisions.
- Simplify complex SME lending processes.
- Accelerate the approval process, enabling faster access to capital for businesses.
✔ Leasing
- Connect with various stakeholders, from dealers to loan managers, helping to reduce process complexity.
- Offer real-time reports, allowing you to monitor dealer performance at any time.
- Increase operational efficiency and boost revenue.
Additionally, you can install modules if you already have an existing system. Looms can integrate with other systems for seamless operation. We also provide function customization to tailor the solution to your business needs.
Click here to download Looms brochure.
To see our demo system, please feel free to contact us at thaisales@iconext.co.th or click our Inquiry Form.
