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Loan Processing ERP Application

The proposal details the development of a Loan Processing ERP Application aimed at automating loan management and enhancing customer interaction for financial institutions. Key features include user management, loan application processing, approval workflows, repayment management, and comprehensive reporting. The project budget is set at ₹2,00,000 with a delivery timeline of six months and a three-month warranty post-delivery.

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Selvam Murugesan
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4 views7 pages

Loan Processing ERP Application

The proposal details the development of a Loan Processing ERP Application aimed at automating loan management and enhancing customer interaction for financial institutions. Key features include user management, loan application processing, approval workflows, repayment management, and comprehensive reporting. The project budget is set at ₹2,00,000 with a delivery timeline of six months and a three-month warranty post-delivery.

Uploaded by

Selvam Murugesan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Loan Processing ERP Application

1. Introduction

This proposal outlines the development of a Loan Processing ERP Application


designed to streamline and automate loan management, application processing, and
customer interaction. The system will provide a secure, user-friendly platform for
financial institutions to handle loan applications efficiently.

2. Objectives

 Automate the loan application and approval process.


 Enhance data security and compliance with financial regulations.
 Improve customer experience with a seamless online portal.
 Provide real-time reporting and analytics.
 Integrate with third-party financial services and credit bureaus.

3. Features & Modules

a) User Management

 Role-based access control (Admin, Loan Officer, Customer, etc.).


 Secure login with two-factor authentication.

b) Loan Application Module

 Online loan application submission.


 Document upload and verification.
 Automated eligibility checks.
 Loan tracking and status updates.
c) Loan Approval Workflow

 Credit score verification integration.


 Automated and manual approval workflows.
 Risk assessment and compliance verification.

d) Repayment & EMI Management

 Loan amortization schedule generation.


 Automated reminders and notifications.
 Online payment gateway integration.
 Late payment penalty calculations.

e) Reporting & Analytics

 Dashboard for loan performance tracking.


 Customizable financial reports.
 Data export options (Excel, PDF, CSV).

1. Sourcing
o Collect customer details:
 Name, Email, AA, PAN, Phone, Alternate Phone, Address
o Nominee details (2 or 3 nominees)
2. Group Management
o Manage nominee data
3. First Meeting
o CIBIL Check
4. Second Meeting
o Terms & Conditions (Agreement sign & upload)
Manager Process

5. GRT (Group Responsibility Test)


o Schedule time for manager approval
6. Nominee & House Verification
o Capture photos & original documents
7. Original Verification
o Verification for 10 Lacs (Pathira Nagal, EC)
8. Loan Approval by BM
o Document status: Completed, Delayed, In-process, Rejected
9. Document Verification
10. Loan Approval by HR
o Includes all documents + BM approval details
o Status: Completed, Delayed, In-process, Rejected
11. Final Verification from Accounts
o Includes all documents + BM & HR approvals
o Status: Completed, Delayed, In-process, Rejected
12. Final Approval from GM
o Includes all documents + BM, HR & Accounts approvals
o Status: Completed, Delayed, In-process, Rejected
13. Loan Issuance
o Company verification, Pro Note, Stamp Paper
o Cheque Leaf upload & submission
o EMI Calculation

Loan Restrictions

 Individual Loan Block: 6 months (Aadhar Card based block)


 Group 1: X persons
 Group 2: Same persons - loan not applicable

 Loan Category:
o 1 to 5 Lacs
o 5 to 10 Lacs (Document variations required)

Reports Based on Staff Roles

Admin Staff Reports

 Overall Report
 Weekly Report
 Monthly Report
 Daily Report

Branch Manager Reports

 Overall Report
 Weekly Report
 Monthly Report
 Daily Report

HR Staff Reports

 Overall Report
 Weekly Report
 Monthly Report
 Daily Report

Accounts Staff Reports

 Overall Report
 Weekly Report
 Monthly Report
 Daily Report

Loan-Based Reports

 Location-Based Reports:
o District (Add, Edit, Delete)
o Taluk (Add, Edit, Delete)
o Post (Add, Edit, Delete)
o Village (Add, Edit, Delete)

Category Management

 GM (Branch Manager) Role: Add, Edit, Delete (Head)


 BM can create below categories:
o Admin: Add, Edit, Delete (Manager, Staff)
o HR Team: Add, Edit, Delete (Manager, Staff)
o Accounts Team: Add, Edit, Delete (Manager, Staff)
o Collection Team : Add, Edit Delete,(Manager, Staff)

GM Role

 BM Creation Rights
Collection Team Process

 Collect Principal Amount + Interest (Multiple Entry Modes: Cash, GPay,


PhonePe, Paytm)
 Collection Team Allocation for BM
 Collection Payment Approval by Accounts Department

Payment Terms & Condition

 The quotation is subject to mutually acceptable terms and conditions.


 Payment is due in three installments: 50% upfront, 25% upon completion of
the development phase, and 25% upon final delivery.

Delivery

 Delivery will occur within 6 months following the confirmation of the


quotation.

Warranty

 A service maintenance warranty is provided for a period of 3 months after


delivery.

Cancellation

 If the quotation is canceled after confirmation, the down payment will not be
refunded.
BUDGET

S.No Portal Name Amount

1. ERP Portal ₹2,00,000

Total Amount (INR) ₹ 2,00,000

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