bankingciooutlook

FMS.next Upgraded for Full Automation in the Loan Origination and Microlending Process

Banking CIO Outlook | Tuesday, August 04, 2020

The upgraded FMS.next Banking platform includes loan origination, management, and collection modules to allow FinTechs, banks, and financial institutions to fully manage their loan and micro-lending or microfinancing process.

FREMONT, CA: Profile Software, a leading provider of financial solutions, announced that the FMS.next advanced functionality for loan management was further enriched towards simplifying and improving the end-to-end process over an extensive range of business requirements. In the light of all the legislative directives towards industries' support globally, following the pandemic, technology is prompted to effectively cover these needs.

The upgraded FMS.next Banking platform includes Loan Origination, Management and Collection modules to allow FinTechs, banks, and financial institutions to fully manage their loan and micro-lending or microfinancing process. Among the platform's new features is the full automation of the loan process from origination through to disbursement, approval, servicing, and collection, using a comprehensive workflow and rules engine to make sure compliance to the legislative directives.

The platform's full STP capabilities enable the reduction of manual interventions and offer the necessary flexibility to differentiate from time-consuming "traditional" banking processes. Going one step ahead, as a complete modular solution, FMS.next can be implemented as a whole loan management offering or as a vertical solution covering specific requirements such as Credit Origination or Debt Collection and Recovering.

The solution is already embraced by established European companies that enjoy the advantages derived from a complete offering. The technology deployed and channels supported, the flexibility to adopt and adapt to new trends, the streamlined processes, and the readiness to work in an open environment where physical access to the branch will not be required, leading to a significant cost reduction.

Profile continuously enriches its solutions' range, offering the latest technological features and market updates to organizations and industry professionals to meet the competitive challenges as the marketplace evolves.

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