Zeal LMS (Loan Management System)
The market for small quick loans is largely untapped due to the tedious process and inexhaustible requirements of mainstream commercial banks. The time-consuming effort of filling loan application forms by borrowers, as well as the man hours devoted to loan processing (verification of relevant documents and ascertaining credibility/eligibility) by lenders usually makes the process exhausting for both transacting parties
ZealLMS streamlines the processes on both ends by automating the interfaces between lender and borrower. It enables borrowers to present their loan requests and provide proof of credibility and eligibility in a clean and timely fashion while the lender is able to receive and validate requests via API calls to information systems relating to borrower’s credentials. The solution involves identity background checks (Know Your Customer – KYC), income flow, credit history and machine learning for credit checks. Overall, LMS enables a 30-minute turnaround time for loan application decisions.