The mobile application was designed to guide users through the loan application process in four main steps:
- Draft Quotation: Users could input their details to generate a draft quotation, which showcased the loan amount they could potentially borrow based on their income.
- Quotation: The application integrated with external systems to validate user income and eligibility. Actual quotations were generated based on this data.
- Application: Users provided comprehensive information required for loan processing. The system interfaced with external APIs to perform regulatory checks and risk assessments.
- Contract: The application facilitated the creation of contracts for approved loan applications. Users digitally signed promissory notes, and the system generated purchase orders. Upon confirmation, funds were transferred from the head office.
- Instant Loan Approval: The application streamlined loan approvals, reducing wait times for customers.
- Seamless User Experience: The application's intuitive design allowed users to navigate the loan application process effortlessly.
- Data Integration: Integration with external systems enabled automatic retrieval of user financial and income data.
- Regulatory Compliance: The system conducted regulatory checks and risk assessments through external APIs.
- Digital Signatures: Users provided digital signatures for promissory notes, enhancing the efficiency of contract creation.
Outcome: Financing mobile application empowered customers to engage with their financial needs conveniently. By implementing this solution, the client achieved:
- Enhanced Customer Satisfaction: Customers appreciated the simplified loan application process and rapid responses.
- Efficiency Gains: Automation of various steps, including data retrieval and contract creation, improved operational efficiency.
- Competitive Edge: The client gained a competitive advantage by offering a cutting-edge, user-centric financial service.