Loan Recovery and Credit Rating System

The case study discusses the creation of loan recovery & credit rating software by Accompt to address challenges in managing education loans in Zambia. The system tracks loan details, facilitates repayment, and integrates real-time credit reporting, significantly enhancing efficiency and transparency in loan management and credit assessment.

Loan Recovery and Credit Rating System
Industry
Industry

Government Sector

Total Hrs. Spent
Total Hrs. Spent

25000

Devs on Team
Devs on Team

4

App Type
App Type

Enterprise Wide

Tech Used
Tech Used

.NET MVC ,My SQL

Client Intro

Accompt, a client in need of web application services, sought to develop a SaaS platform for investment management. Their goal was to create a system for handling a range of investments and debts, including stocks, mutual funds, real estate, and loans, with a focus on generating detailed reports for informed investment decisions.

Client Intro

Transforming Project Management : Challenges, Solutions, and Achievements


Challenges Client Faced

Challenges Client Faced -

  • Difficulty in accurately capturing and presenting loan details in the Zambian education loan recovery system.

  • Inefficient tracking of students who received loans and their repayment status post-graduation.

  • The existing Credit Rating System in Zambia was inadequate for capturing critical credit information efficiently.

  • Challenges in creating effective repayment schedules and facilitating employer-based loan repayment.

  • Lack of a comprehensive system to manage and report educational loan data.

What we did to fix it -

  • Developed an Educational Loan Recovery System to track loan details and create repayment schedules.

  • Enabled employer-based loan repayment calculation for deduction from employee salaries.

  • Updated the system with every repayment, providing real-time loan balance status.

  • Integrated loan details with individual credit reports for accurate credit status appraisal.

  • Implemented a comprehensive Credit Rating Software for real-time financial assessments.

What we did to fix it

What we Achieved



 Streamlined the entire process

Streamlined the entire process of educational loan applications, disbursals, recovery, and credit management.

 Enabled comprehensive reporting

Enabled comprehensive reporting of educational loans, student details, and repayment methods.

 Significantly reduced losses

Significantly reduced losses incurred from untracked disbursed loans.

Enhanced government control over funding loans to new students

Enhanced government control over funding loans to new students.

Improved business efficiency

Improved business efficiency of financial institutions by 45% in assessing loan applications.

 Facilitated real-time credit ratings

Facilitated real-time credit ratings for individuals and companies.

 Improved transparency and efficiency

Improved transparency and efficiency in the credit assessment process.

Tech Stack


Key Features we Delivered


Educational Loan Module

Educational Loan Module

University, College, and Student Management

University, College, and Student Management

Course and Loan Applications Management

Course and Loan Applications Management

Loan Disbursement and Recovery Processes

Loan Disbursement and Recovery Processes

Employer and Employee Management for Salary-based Loan Recovery

Credit Rating Module with Financial Institutions Management

Credit Rating Module with Financial Institutions Management

Real-time Loan and Credit Reporting Tools

Real-time Loan and Credit Reporting Tools

Testimonials


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Brian Law

IT Manager, FP McCann Ltd. - UK

Softlabs Group has been engaged with us for the development of Mobile iOS/Android/Windows APPs, Desktop Apps, Touch Screen Windows APPs. Their staff have mostly been doing this work remotely but two of their resources spent some time in our offices in Northern Ireland getting project scopes & building relationships with our local team. They provided flexible services with both competent & professional staff.

Ashwin Gurjao

Operations Manager, Symbio Energy Limited. - UK

Compared to previous developers we’ve worked with, Softlabs’ development quality is really amazing. Their expertise is very strong. Softlabs gave us real-time feedback on how things are going, and what can or can't be done. Their flexibility and willingness to pivot when we think is necessary is really appreciated.

Pride Sinkala

Managing Director, SKYGOLD Ltd. - Zambia

Softlabs Group has the ability to understand the end-user and developing appropriate solutions to meet their needs. Everyone I have dealt with from the company has been extremely courteous and professional. I appreciated their dedication, critical thinking, and great responsiveness. I don’t have any doubts about recommending Softlabs to others who are looking for development partner.

Haron Kiriba

CEO, Wiseman Talent Ventures - Kenya

Team did an outstanding job delivering a high quality software with the given deadlines. They were always available to discuss the details about the project to make sure we were focused in the right direction. I will surely recommend their services to anyone looking for a dedicated and highly experienced team.

Mohammad Kamal Ahmad

Sr. Manager - Research & Advanced Analytics , Arabian Research Bureau - Oman

We would like to express our appreciation for the outstanding work accomplished by your team in areas such as Quality of work, Adaptability, Collaboration, and Effective Communication. Your dedication to these aspects has significantly contributed to our positive collaboration.

Balaji Iyengar

Senior IT Manager , Nippon India Mutual Fund - India

Softlabs Group's service and results have proven highly successful for us. Their team excels in clear and consistent communication, ensuring that project details are conveyed effectively. What truly stands out is their commitment to building long-term working relationships, going beyond immediate project goals. This dedication not only fosters a positive collaboration environment but also sets the stage for continued success in future endeavors.

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