E finance
E FINANCE
Introduction
In Malaysia, a finance company affiliated with the semi-government sought to extend its reach and empower local businesses through accessible loans. However, the company’s existing methods, burdened by manual calculations and paper-based record-keeping, were hindering their ability to serve their community effectively.
Seeking a technological solution, the finance company turned to Jupical, a rapidly growing ERP service provider from West India. With expertise in harnessing the power of Odoo ERP, Jupical embarked on a mission to transform the company’s loan management process.
Utilizing Odoo ERP version 15, Jupical meticulously crafted an e-finance loan application that streamlined the entire loan lifecycle, from initial application to final repayment. This comprehensive solution encompassed a blend of customization, seamless integration, and the strategic deployment of Jupical’s proven loan management module.
Technology Used
Odoo
Python
Services Offered
ERP Implementation
Odoo Configuration & Development
Odoo Consultancy
Training & Support
Third-Party Applications
Jupical Loan Management
Other Applications (Integrations)
Malaysian Mykad Integration
Google Meet and Calendar
Trust Gate Integration
Video Attestation
Business Challenges
- A lack of a streamlined communication channel between loan applicants and the company, impeding efficient business operations.
- Manual loan calculations and disbursement processes, plagued by errors and inefficiencies, were hampering growth and success.
- Outdated document management systems led to disarray and hinder collections.
Solution Proposed
- Easy Customization: No coding expertise was required to modify the website’s appearance and functionality, empowering the client to make adjustments as needed.
- Responsive Design: The website seamlessly adapted to various screen sizes, ensuring optimal viewing across desktops, tablets, and smartphones.
- Backend-Frontend Synchronization: Data flowed seamlessly between the website’s frontend and backend, ensuring real-time data updates and a cohesive user experience.
To contour the loan application process, Jupical integrated the website with MYKAD, a national identification system that facilitated Know Your Customer (KYC) verification. Additionally, TrustGate API integration enabled credit score evaluation, ensuring borrower eligibility and providing valuable insights for loan decisions.
The website served as a centralized hub for collecting customer data and documentation, securely storing it in the backend system with automatic customer-specific grouping. Jupical’s loan management solution was seamlessly integrated into the website, forming the core of the application.
Key functionalities of the e-finance loan application included:
- Automated Loan Computation: Based on the loan amount, interest rate, down payment, and selected loan term, the application automatically calculated loan parameters.
- Automated Invoicing: Invoices were automatically generated on installment due dates, streamlining payment processes.
- Automated Penalty Charges: Late installments triggered automated penalty charges, ensuring timely repayments.
- Accounting Journal Configuration: Detailed accounting records were meticulously maintained, tracking every financial transaction.
- Flexible Customer Options: Customers could make extra payments or postpone installments, with the application automatically rescheduling loan terms accordingly.
 To enhance customer convenience, the application integrated with Google Calendar, enabling customers to schedule video attestation appointments within available slots. E-signatures were seamlessly obtained before final loan disbursements.
Features
Multi-currencies
The framework used supported multi-currencies, which really benefited client to enable RM Malaysian currency.
Multi-companies
This was the golden feature of the framework, where our client benefited to handle more than one business operations by single framework.
Multi-languages
The framework supported multi languages, which benefited the client to use Malay language as a medium.
Ekyc
This Integration of Ekyc was done with the framework which helped the authorities to check the credit score of the loan applier before loan disbursement.
APIs
Trust gate API integration by us really helped to fetch the real data of the locals to verify the loan applier identification.
Framework-compatible
The website built was user-friendly and compatible with all the devices whether desktop, mobile, or tablets.
Razorpay payment Integration
For payment of the loan installment, we integrated Razorpay payment method with the framework which enabled customer to pay online.
Business Impact
- The website’s launch significantly boosted the company’s online presence, expanding their reach and attracting new customers.
- Communication channels fostered better customer interactions and enhanced customer experience.
- Faster and more efficient loan processing ensured timely approvals and disbursements.
- Flexible payment options and e-signatures provided convenience and accessibility.
- Automation of manual tasks eliminated redundancies and human errors, streamlining operations.
- Improved data management and organization, optimized resource allocation and decision-making.
- Increased loan volume driven by improved customer satisfaction and awareness.
Add Your Heading Text Here
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.