France-based fintech Skaleet has announced a module that will enable banks and credit institutions to quickly process loans and easily manage them from end-to-end. Skaleet’s Core Banking Platform (CBP) is agile and modular, which enables financial institutions and banks to quickly develop innovative banking services.

The solution automates the technical development of banking applications and radically transforms the way many financial products are marketed. Skaleet’s CBP provides fintech companies, banks, and financial providers with access to turnkey tools and personalised support so they can add services similar to those in their existing product line. To date, Skaleet has implemented its CBP in some 30 countries.

The module hastens and streamlines loan processes Skaleet is expanding its product line to include a credit module that manages the entire lifecycle of the loan, from initial application to loan servicing. The new module is available as part of Skaleet’s CBP, or as a standalone product, and comes complete with a set of business scenarios to reduce the learning curve. In addition, the module offers a high degree of configuration autonomy.

As such, workflows can be customised at each stage of the loan’s life cycle: customer acquisition (loan calculator, and application); approval (risk analysis, decision, and signature); closing (disbursement, and loan administration); loan servicing (due dates, renegotiations, and prepayments); and collection (delinquency, litigation, and amicable settlement). A fully online process to take out a loan in around three minutes By virtue of these automated and customised processes, lenders using this module can now offer their customers a fast, fully online application process. In three minutes, applicants can provide their information, complete their profile, and then submit the application in real time.

To enhance this experience, Skaleet provides customers with the opportunity to connect to many complementary ‘in-house’ or partner-developed modules— including regulatory Know Your Customer tools, reports, electronic signature tools, and so on—all supported by the CBP’s open architecture. Offering support for the solution Skaleet provides companies using this module with expert support during implementation to shorten the time to market. Post implementation, a dedicated account manager will follow up to ensure the long-term performance of the module.

Company officials said that whether used as a standalone or within the Core Banking Platform, they believe this module can dramatically simplify loan management and improve the user experience. They also believe this module can be a catalyst, stimulating creation of innovative services. .