True Transact Loan Management system is a Web-based centralized architecture solution for automating the back office operations for repayment life cycle and loan account servicing, supported by business event based accounting transaction generation. It manages every activity involved in servicing a customer account right after disbursement till closure of a loan.
Features
- Modular
- Higher flexibility
- Creation and Delivery of sophisticated products
- Off-line processing capability
- Relationship Banking
- Real time Limits Monitoring
- Integrated Workflow engine
- Single customer view across multiple channels
- Fixed and Floating interest rates
- Supports different repayment types like balloon, bullet etc.
Advantages
- Loan management software also helps in the identification and classification of Non-performing Assets (NPA) for all loan types.
- It takes care of varied critical aspects that include appropriation and re-appropriation of receipts
- Reversal and re-presentation of cheques.
- Rescheduling for part prepayment / change in interest rates / tenor or installment change request, restructuring and compromise / settlement management.