Custom Software for End-to-End Loan Management Automation

Summary

INNERLUXES built a US financial services company a custom loan management system from the ground up, replacing an off-the-shelf tool that couldn't be tailored or integrated to its needs. The solution automates the full lending lifecycle — applications, credit checks, compliant document generation, debt collection, and reporting — and integrates with credit bureaus and the company's existing software.

About the Client

The Client is a reputable financial services company with more than 50 offices across the US. It provides consumer loans, including personal loans for bad credit, with flexible repayment plans tailored to individual financial needs.

A Packaged Tool That Couldn't Keep Up

The Client relied on out-of-the-box, on-premises loan management software to centralize customer and financial data, automate lending and borrowing, and control repayment. The tool didn't provide the full scope of functionality the Client needed, couldn't be efficiently customized to its specific processes, and failed to integrate smoothly with the Client's corporate software and essential external systems. The Client therefore decided to invest in its own loan management system, fully tailored to its business requirements.

Building a Custom Loan Management System

Drawing on INNERLUXES's long experience building software for financial services companies, the Client engaged us for end-to-end custom loan management development. INNERLUXES's business analyst examined the Client's needs and elicited detailed requirements, and the solution architect defined an optimal architecture, feature set, and tech stack — the basis for estimating resources and planning the deliverables, budget, and schedule.

To meet the timeline, INNERLUXES provided a full-scale team — a project manager, a business analyst, three full-stack, two front-end, and two back-end developers, plus manual and automated test engineers — composed of senior- and lead-level talent proficient in lending software to balance budget and quality. When designing the business logic, UX, and UI, the team deliberately kept a healthy similarity to the off-the-shelf tool the Client previously used, to avoid drastic changes to established processes and ease the transition for employees and customers. Before coding, the team set up container orchestration, CI/CD pipelines, and cloud automation to speed development, integration, testing, and deployment.

The loan management software delivered robust automation of the Client's lending processes:

• Automated creation and submission of loan applications and contracts.
• Automated verification of customer credit ratings, based on borrower history and credit-bureau data.
• Automated generation of loan documents compliant with relevant federal and state regulations.
• Configurable dashboards with real-time updates on granted loans and received and due repayments.
• Automated debt collection.
• Scheduled and ad hoc reports on credit applications and repayments (50+ report types — by period, customer, office, and more).

INNERLUXES integrated the solution with the Client's existing software ecosystem, a US-wide SMS service platform, and the credit-rating systems of the three largest US credit bureaus — eliminating double data entry, freeing employees from tedious debt-collection tasks, and improving the speed and accuracy of lending decisions and repayment reporting to the relevant institutions. QA specialists ran manual and automated tests in parallel with development, and the solution underwent user acceptance testing on the Client's side to ensure a convenient UX and UI.

A Comprehensive Solution Built to Spec

Over roughly two years of collaboration, the Client received a comprehensive loan management solution built from scratch to its specific requirements. INNERLUXES's advice on the optimal architecture, functionality, and tech stack, together with a reasonable approach to resource management, helped the Client optimize the project budget while ensuring high solution quality. With development complete, INNERLUXES migrated the Client's business data to the new system ahead of its production launch for employees and customers.

Technologies and Tools

.NET Core, Angular, TypeScript, Bootstrap, Microsoft Azure Cloud, Azure DevOps Services, Docker, Selenium, Locust.