Energy

Loan Management System

Our loan management software can be used in any size of micro lending business, from small, single offices to big groups and even in banks. Our microfinance management software caters for any micro lending setup, from running your business centrally over the Internet or just managing your business locally in your office.

Why choose DigiManiaX Loan Management System (LMS)

Our Loan Management System (LMS) transforms the micro finance industry through technology. The system caters for standard, complex and completely customisable Loan Management Solutions. The system is flexible and contains thousands of various data elements that can be configured to facilitate loan management processes and custom reports.

Loan Management System (LMS) Features.

DigiManiax LMS is the loan servicing software with the industry’s most sophisticated mathematics and customizable interface for lenders with complex needs: The section below details some of the key features that our software delivers:

Key Features

1. Getting Started

  • Import your Borrowers in seconds directly from an Excel spreadsheet
  • Import your regular and irregular loans and payments from an Excel spreadsheet
  • System configuration and data import services

2. Basics

  • PC: Windows based / Citrix / Remote Desktop
  • PC: Mac running Parallels Desktop
  • Available as network installed (your infrastructure) or in the Cloud (SAAS)
  • Uses its own database (Hyperfile)(database is encrypted)
  • Database can be located at any desired location on a local area network (LAN)
  • Can easily be installed and accessed in the Cloud
  • Network (multi-user) or Single User
  • Manage from 10 to 40,000+ loans
    Search tool in the Main window (Multiple field search)
  • Large database quick data refresh
  • Ultra high resolution (4K) and small very high resolution screen (>1080p) optimization

3. Security and Privacy

  1. Login by User name and Password
    • “Strong” (versus simple) password may be set as mandatory
    • Multifactor authentication (MFA)
    • 5 attempts to enter software before being locked out
  2. Users: Administrator, Power, Regular, Draft, Read-only
    • Various other rights can be provided or removed
  3. ADMIN user only can activate additional security and confidentiality measures including:
    • 6 activity logs saved as JSON files
    • “Strong” password
    • And many more…

4. The Maths

  • Simple Interest
  • Simple Interest Capitalized
  • Compound Interest
  • Multiple Compounding Periods (no need to match payment frequency)
  • Multiple Payment Frequencies and Irregular
  • Regular or Irregular First Payment Date
  • Multiple Day Counts (Actual/Actual, Actual/365, Actual/360, 30/360)
  • Short & Long Periods
  • Mix of Compound and Simple interest in one schedule (pretty advanced stuff!!)
  • Add-on (precomputed) Interest

5. Origination

  • Accept / Reject applications (bulk import via Excel and JSON)
  • Create payment schedules
  • Create loan documents
  • Store documents

6. Interest Rates

  • Fixed Interest Rate
  • Variable Interest Rates (with interest tables or updated manually)
  • Multiple base rates (Prime, LIBOR, etc.)
  • Variable rates + or – x% as the spread
  • Update interest rates in bulk (for multiple selected loans at once)
  • Change interest rates for all future payments or for a specific time period only
  • Recompute payments (optional) when new rate is applied
  • Rates up to 6 decimal places

7. Borrowers – Guarantors – Creditors

  • Client (Borrower/Guarantor) Database
  • Creditor Database
  • Borrower and Creditor databases independent from the loan itself
  • Number of borrowers that can be entered in the system is triple (3x) the number of loans purchased with the license
  • Multi-lender, Syndicated loans (Can include dozens/hundreds of Creditors / Reports participation of each)
  • Co-Borrower(s) for a loan
  • Guarantor(s) for a loan
  • Employer Database
  • Maximum Credit for all of a Borrower’s Loans
  • Unlimited custom fields for Borrower, Creditor and Loan
  • Multiple Loan Officers for a Creditor
  • Metro 2 Credit reporting fields
  • Add Notes or Attach files to a Borrower
  • Import new Borrower data in bulk via spreadsheet
  • Automatic import and update in near real-time of Borrower’s data via a JSON or Excel file through a Windows Service (API)
  • Automatic Import/Export from/to Salesforce (CRM) of Borrower data (API)

8. Local & International and Standards

  • GRAP 104 Financial Instruments compliance
  • Truth-in-Lending Act (USA)
  • Canadian Regulations
  • European Regulations
  • Standard Interest Calculation methodology (for most jurisdictions in the world)
  • Multi-Currency / Convert to one currency

9. Amortization Table

  • Custom Payment Plans (Regular, Irregular, Principal and Interest, Interest-only, Fixed Principal, Lump Sum, Combination of these, Rate-Adjusted Payments, Recomputation of Payments, Interest Rate Changes)
  • Additional Principal (Waterfall advances) to an existing Loan (Phased disbursements)
  • Fees, Penalties, Insurance, Taxes (Add others and name as desired)
  • Interest or No Interest on Added Principal, Fees, Penalties, Insurance and Taxes
  • Custom Payment Types (over 90) (Adapt the payment types to your exact needs) (Example: Paid Visa, Paid Check, Admin Fees, etc.)
  • Custom Additional Principal Types (Name as you wish)
  • Irregular Payments Management (Unpaid, Partial, Late)
  • Automatic recomputation of payments after upstream changes (interest rate change, missed payments, balloon payments, etc.):
    • Interest-only payments
    • Fixed principal payments
    • Principal, interest and fee payments in order for the loan to be fully repaid (or with a residual value)
  • Principal-only payments
  • Interest Paid “In Advance”
    End-of-month payments or on the 28, 29, 30, 31
  • Custom interest regular “capitalization” date

10. Easy User Customization

  • Custom Fields (Unlimited)
  • Custom Scroll Menus
  • Import and update scroll menus via spreadsheet
  • Customization of names and multiple standard fields
  • Custom Record statuses
  • Custom Dashboard (Main Window):
    • Set data displayed by user
    • Custom Display Record filters
    • Rename fields names shown in Main window
    • See portfolio trends and interesting data with Widgets
  • Custom Payment Types (over 90 types)(Paid Cash, Paid EFT, Extra Pmt, etc.)
    Custom Reports with hundreds of fields
  • Custom columns (3 monetary, 3 numerical, 3 text) to enter extra loan information

11. Tools

  • Post payment tool that allows batch posting
  • Post paid, unpaid, partial and late payments, add Fees, add Comments, etc. “Unpay” paid payments in batch.
  • Post payments via an Excel sheet (Unique line ID for each payment or exact date and amount)
  • Import regular and irregular payments (or extra Principal) in bulk from a simple Excel sheet. Add multiple other data for each payment (Comment, Note, etc.)
  • API: Automatic data Import and Update (in real time) from third-party information systems by JSON or Excel sheet
    • Borrowers
    • Borrowers and Loans
    • Transactions
  • Change future transaction data in bulk (with an Excel sheet)
  • Send emails in bulk with templates
  • Send SMS (text messages) in bulk with templates
  • Record Sorting and Search
  • Full database Search tool
  • Record Sorting and Search
  • Sort by multiple criteria
  • Full database Search tool
  • Record Sorting and Search
  • Sort by multiple criteria
  • Record Display Filter
  • Record Notes (unlimited length)
  • Notes now timestamped by user and cannot be changed after 24 hours
  • Record Notes on Individual Payment Lines
  • History (Log) of Changes
  • Attach Files to a Record
  • Returned checks module
  • Global import/changes in the database via Excel sheet
  • Bulk import and change data and fees in payment schedule (via Excel sheet)
  • Quick Irregular payments entry
  • Backup (automatic or one-click when needed)
  • Sandbox (test environment) before updating to latest version

Additional Features

12. Alerts

  • System Alerts, Line status Alerts, Record Alerts, Payment Line-specific Alerts, Conditional Alerts
  • Send automatic reminders to Borrowers by Email (upcoming payments, unpaid payments, etc.). Create your own templates.
  • Alerts can be sent via email or SMS internally (to other key personnel)
  • Show and change Notes directly from Alerts
  • Add Alerts from the Alerts module
  • Send Emails and SMS automatically from the Alerts module to Borrowers
  • Maximum credit for a Borrower for all his Active loans in the system

13. Reporting – Invoices – Statements

  • Custom Reports using over 1000 fields + Custom fields+ Equations you create
  • Sorting and subtotals according to the chosen fields in the Record list.
  • Automatic report creation (overnight or anytime) and import to third-party software (report generation with Windows Task scheduler)
  • Reports can be sent via email automatically
  • Create Advanced queries (include or exclude part of portfolio)
  • Include loans (for invoicing) only if payments are expected
  • Executive Dashboard (Portfolio overview – number of records, amounts, averages and graphics)
  • Transactions Report
  • Financial Projections
  • Contracts, Letters, Invoices, Statements (Custom Merges with your Word (DOCX or RTF) Documents)
  • Produce DOCX, RTF or PDF documents
  • Send Invoices / Statements in bulk by Email, attach to Record, save and print with one click
  • Creditor/investor statements (including participation loans)
  • Mathematical Equations: Add, subtract, multiply, divide… fields together
  • Advanced Mathematical Equations including IF / IF NOT conditions
  • Data fields classified by theme
  • Standard Reports
  • Detailed payment schedules (Including Quarterly, Yearly, Fiscal Year-end Totals)
  • Monthly, Quarterly, Yearly Reports (or Between any Dates)
  • Current Balances
  • Escrow reporting
  • Repayment Ratio
  • Detailed Accounting Data
  • Ageing report (current, 30, 60, 90… days late)

14. APR Module

  • Very sophisticated calculation for multiple APR scenarios
  • Fees can be Paid up-front, Financed or Paid subsequently
  • Paid Financed fees distribution by type

15. Accounting

  • Accounting automatic refund order:
    • Fees, Interest, Principal
    • Order may me modified
    • Great flexibility for irregular orders
  • Export Debits and Credits to your General Ledger (QuickBooks, Sage 50/300, Acomba, CSV, TXT, Excel)
  • Over 350 accounting fields for reporting:
  • Interest Accrued and Paid, Paid Principal, Outstanding Amounts, Principal Balance, Due Interest, Payment source, etc.
  • Export to your GL as Lender or as Borrower
  • Accounting entries according to creditor participation
  • Total Debits and Credits by account

16. Electronic Funds Transfer

  • ACH with NACHA file for the United States
  • Automatic debit from bank account – Canada via Perceptech
    • Automatic update of Affiliate Records when Master Records are updated
    • Automatic payment returns (NSF)
  • Other countries – development based on your needs

17. Fees, Insurance and Taxes

  • Include fees, insurance or taxes with automatic recomputation based on:
    • Percent of loan balance
    • Percent of interest accrued
    • Percent of principal balance and days (same calculation as Simple interest)
    • Simply an amount set by user that can be changed as needed
  • Fees can be added as columns (6 personalized columns) or as lines
  • Column fees automatically generated according to the rules established by the Administrator
  • Column Sales Taxes automatically eliminated for unpaid payments
  • Escrow module
  • Automatic fees based on number of days late
  • Automatic fees according to the Record Type or a Custom field.
  • Column fees paid automatically according to a preset refund order that can be modified

18. Web Features

  • Bulk import loan applications and accept or decline (via JSON or Excel file). Keep history of all applications
  • Automatic and real-time import of approved loans from your loan approval system via JSON or Excel
  • Web Portal for your borrowers and investors to consult various data pertaining to their loan(s)(you decide on which data can be seen)
  • Salesforce data exchange via our API
  • Gmail “OAut 2.0” protocol for sending emails

19. Cool Features

  • Customize your Dashboard (Main window) – important data for your needs
  • Add Color to identify problem loans
  • Add Color to payment lines
  • Compulsory Fields
  • Background tasks: automatic backups, current balance recomputation, alerts etc.
  • Scan files directly in the software
  • Increase or decrease font size in the
  • Dashboard, Payment schedule, Post payment window
  • Spreadsheets directly in most reports
    25+ shortcuts – view with F2
  • Unique Identifiers for Borrowers, Creditors and Loans (to tie in to third-party software)
  • Loan balance and Ageing report based on date – updated daily on Dashboard
  • Obtain the amount payable by borrower at any date to get his payment schedule back on track
  • Remembers last report dates
  • Email mass sending test tool
  • Multiple customizable field names

20. Investor Module

  • Custom Payment Plans (Regular, Irregular, Principal and Interest, Interest-only, Fixed Principal, Lump Sum, Combination of these, Rate-Adjusted Payments, Recomputation of Payments, Interest Rate Changes)
  • Additional Principal (Waterfall advances) to an existing Loan (Phased disbursements)
  • Fees, Penalties, Insurance, Taxes (Add others and name as desired)
  • Interest or No Interest on Added Principal, Fees, Penalties, Insurance and Taxes
  • Custom Payment Types (over 90) (Adapt the payment types to your exact needs) (Example: Paid Visa, Paid Check, Admin Fees, etc.)
  • Custom Additional Principal Types (Name as you wish)
  • Irregular Payments Management (Unpaid, Partial, Late)
  • Automatic recomputation of payments after upstream changes (interest rate change, missed payments, balloon payments, etc.):
    • Interest-only payments
    • Fixed principal payments
    • Principal, interest and fee payments in order for the loan to be fully repaid (or with a residual value)
  • Principal-only payments
  • Interest Paid “In Advance”
    End-of-month payments or on the 28, 29, 30, 31
  • Custom interest regular “capitalization” date

Like what you see? Get in touch with us.

Get in Touch

Your Outsourced
Technology Solutions Specialists

Digimaniax Energy

Get in Touch

  • Copyright © 2023 DigiManiaX | All Rights Reserved

Home

Services

About

Products

Contact

Energy