top of page

Loan Management System

SynoFin Loan Management System is a comprehensive software solution designed to streamline and automate loan processing and management tasks for financial institutions such as banks, NBFC, credit unions, and other lending organizations. This powerful system is built to enhance operational efficiency, reduce manual errors, and provide a seamless experience for both lenders and borrowers throughout the loan lifecycle.

Glimpses of LMS functionality

SynoFin LMS offers a wide array of products and schemes, with the flexibility to create custom loan products tailored to your institution's specific requirements with product specific data fields. Through the intuitive admin panel, users can define new loan products/schemes and configure various parameters to suit their lending needs. The system supports the following products out of the box:

#1 Term Loans

Loan Against Property, Home Loans, Vehicle Loans, Personal Loans , Business Loans, Education Loan.

#2 Supply Chain Finance (SCF)

Support for efficient management of supply chain finance for businesses, ensuring smooth operations between suppliers, manufacturers, and distributors.

a.) Invoice Discounting: SynoFin LMS facilitates invoice discounting, enabling businesses to raise immediate funds by selling their accounts receivable (invoices) to financial institutions at a discounted rate. This feature allows businesses to unlock tied-up cash and bridge the gap between invoice generation and actual payment receipt.

b.) PO (Purchase Order) Discounting: Our LMS extends support for PO discounting, providing businesses with the flexibility to secure working capital financing by leveraging their confirmed purchase orders. By availing early funding against purchase orders, businesses can fulfill orders promptly and sustain a smooth supply chain cycle.

#3 Gold Loans

Comprehensive support for lending against gold assets, enabling institutions to manage gold-backed loans efficiently. SynoFin LMS offers added functionality to value the collateral jewelry separately, empowering customers to take back specific jewelry items through part payments.

#4 Credit Line / Dropline OD

Capability to offer credit lines and dropline overdraft facilities, providing customers with flexible borrowing options.

#5 Buy Now Pay Later(BNPL) Loans

Cutting-edge support for BNPL loans, catering to the evolving needs of modern consumers in managing their purchases.

any product can be configured . . .

With SynoFin LMS's ability to create and configure new loan products and schemes, your institution can adapt to changing market demands, launch innovative lending solutions, and cater to diverse customer segments effectively. Whether it's traditional term loans or emerging financial products, our LMS empowers you to stay ahead in the competitive lending landscape.

Synoriq LMS.png

I'm a paragraph. Click here to add your own text and edit me. It's easy.

SOLUTIONIS

Support 10+ Lines of Business

our system for every department of your financial Institution
Frame 33 (1).png

Personal Loan

Group 2671.png
Frame 33 (1).png

Vehicle Loan

Group 2666.png
Frame 33 (1).png

Home Loan

Group 2665.png
Frame 33 (1).png

MicroFinance

Group (1).png
Frame 33 (1).png

Education Loan

Frame 40.png
Frame 33 (1).png

Loan Against Property

Group (2).png
Frame 33 (1).png

Gold Loan

Group (3).png
Frame 33 (1).png

Overdraft

Frame 45.png
Frame 33 (1).png

Equipment Financing

Group (4).png
Frame 33 (1).png

Flexi Loan

Group 2667.png
Frame 33 (1).png

Commercial Vehicle 

Group (5).png
Frame 33 (1).png

Supply Chain Financing

Group (6).png
Frame 33 (1).png

Working Capital Loan

Group (7).png
Frame 33 (1).png

Buy Now Pay Later

Vector.png
Frame 33 (1).png

Credit Card

Group 2671 (2).png

Interest Calculations

SynoFin LMS provides robust support for interest calculations, offering flexibility in interest rates and repayment frequencies. The system includes the following features

#1 Day Count Conventions supported: 30/360, Actual/365, Actual/Actual

#2 Repayment Frequency: Daily, Weekly, Bi-Weekly, Monthly, Quarterly, Half-Yearly, Yearly

#3 Interest Rate Types: Fixed, Floating, Floating plus margin, and other customizable types

#4 Support for tiered-based interest rates

#5 Ability to convert between fixed and floating interest rates

#6 Configurable penal interest charge and waiver options.    Ability to charge interest from the backdated effect

#7 Auto computation of prepayment penalty based on configuration

SOLUTIONIS

Support 10+ Lines of Business

our system for every department of your financial Institution
Frame 33 (1).png

Personal Loan

Group 2671.png
Frame 33 (1).png

Vehicle Loan

Group 2666.png
Frame 33 (1).png

Home Loan

Group 2665.png
Frame 33 (1).png

MicroFinance

Group (1).png
Frame 33 (1).png

Education Loan

Frame 40.png
Frame 33 (1).png

Loan Against Property

Group (2).png
Frame 33 (1).png

Gold Loan

Group (3).png
Frame 33 (1).png

Overdraft

Frame 45.png
Frame 33 (1).png

Equipment Financing

Group (4).png
Frame 33 (1).png

Flexi Loan

Group 2667.png
Frame 33 (1).png

Commercial Vehicle 

Group (5).png
Frame 33 (1).png

Supply Chain Financing

Group (6).png
Frame 33 (1).png

Working Capital Loan

Group (7).png
Frame 33 (1).png

Buy Now Pay Later

Vector.png
Frame 33 (1).png

Credit Card

Group 2671 (2).png

Repayment Schedule Generation

SynoFin LMS generates precise and customizable repayment schedules based on loan products and schemes. The system supports the following repayment schedule options

  • Structured loans with manual feeding of an agreed schedule

  • Interest repayment every month on a fixed date with bullet principal repayment

  • Pre EMI for X months followed by EMIs for Y months

  • Auto change of repayment schedule in case of part-prepayment, interest rate change or Tranche Disbursement

  • Loan restructuring while retaining the original loan number

  • Ability to handle back value dated changes for levy of additional interest in case of defaults

  • Dropline OD product is supported with dynamic limit management

  • Audit trail of changes in repayment schedule

  • Generation of repayment schedule basis IRR

  • Support for Advance EMI - 3 variants of Advance EMIs are supported

Please find the examples of Repayment Schedules attached here

Rescheduling

SynoFin LMS generates precise and customizable repayment schedules based on loan products and schemes. The system supports the following repayment schedule options

  • Reducing the tenure or reducing the EMI

  • Knocking off the principal from the loan amount

  • Parking the advance payment and knocking off the corresponding EMIs on the respective EMI dates.

  • Adjust with the first EMI

  • last EMIAdjust with the

  • Spread the odd amount across all EMIs.

Offers a preview of the repayment schedule when the loan tenure is changed. Multiple treatment options are available to accommodate tenure adjustments.

#6 Due Date Change

Allows users to preview the repayment schedule when the due date is modified. This feature ensures seamless handling of changes in due dates

#7 Moratorium

Supports repayment after a moratorium period of x months. Borrowers can avail a grace period before starting regular repayments.

#2 Part Payment

Offers a preview of the repayment schedule for part payments and provides multiple treatment options to change repayment schedules, including:

#5 Tenure Change

#3 Option to Adjust Odd Amount in Amortization Schedule

Provides flexibility to adjust odd amounts in the amortization schedule using various options

#1 Installment Change

Allows users to preview the repayment schedule before making changes to the installment amounts.

#4 Rate Change

Enables users to preview the repayment schedule before making changes due to interest rate adjustments. The system supports multiple treatment options to change repayment schedules effectively.

Payment & Collections

Our LMS offers comprehensive features for efficient payment processing and collections, streamlining the recovery process and ensuring smooth financial operations. The system empowers financial institutions to manage payments and collections seamlessly through the following capabilities

1. Disbursement: can be done through various channels, providing flexibility to cater to different customer preferences. Supported disbursement modes include:
   a.) Cash
   b.) Cheque
   c.) NEFT (National Electronic Funds Transfer)
   d.) RTGS (Real-Time Gross Settlement)
   e.) Bank Integration for Auto Payment: Our LMS supports SFTP (Secure File Transfer Protocol) transfer with partner banks,              such as ICICI Bank, for processing disbursements through different payment modes, including NEFT, RTGS,
        IMPS(Immediate    Payment Service), Cheque, DD (Demand Draft), and FT (Fund Transfer).



2. Receipt Management: Our LMS provides flexible options for customers to repay EMIs and charges conveniently. Receipt management supports the following repayment modes:
   a.) Cash
   b.) Cheque
   c.) DD (Demand Draft)
   d.) NEFT 
   e.) RTGS
   f.) IMPS
   g.) NACH


3. NACH Management: Our LMS supports NACH registration, enabling customers to set up electronic mandates for automated loan repayments. NACH streamlines the collection process and enhances customer convenience.

4. Bounce Management: In case of a bounce, Our LMS provides the capability to mark the bounce at the transaction level, allowing users to handle both NACH and non-NACH bounces efficiently. This feature helps in maintaining accurate records and ensures prompt follow-up actions.

5. UMRN Upload: Our LMS allows the tagging of Unique Mandate Reference Numbers (UMRN) generated during NACH transactions to the respective loan account. This tagging simplifies the reconciliation and tracking of NACH transactions.

6. Auto Generation of NACH Presentation File: The system offers the ability to read the due date of loan repayments and automatically generates the NACH presentation file X days in advance. This proactive approach ensures timely collections and reduces the risk of delays.

With Our LMS's robust payment and collections features, financial institutions can streamline their disbursement processes, offer multiple payment options to customers, and efficiently manage repayments. The system's integration capabilities enable seamless coordination with partner banks, ensuring smooth auto payments and facilitating timely collections. Whether it's disbursing funds or managing customer repayments, our LMS ensures a hassle-free and customer-centric payment experience for all stakeholders involved.

Risk and Compliance Management

Our LMS ensures adherence to risk and compliance requirements, providing the following capabilities

#1 NPA Provisioning  

1. DPD (Days Past Due) as per IRAC Norms: Our LMS automates the computation of DPD (Days Past Due) based on the due date of the oldest installment. The DPD calculation is done horizontally, ensuring accurate monitoring of delinquencies.

2. Auto Classification on EOD (Ease of Doing) to IRAC Categories: The system supports the automatic classification of accounts into different IRAC (Income Recognition and Asset Classification) categories, such as SMA-0, SMA-1, SMA-2, sub-standard, doubtful-1, doubtful-2, doubtful-3, and Loss. This feature enables institutions to effectively manage asset quality and provisioning requirements in line with regulatory norms.

3. Auto Movement of Accrued Interest to Suspended Interest: Our LMS automates the movement of accrued interest to suspended interest accounts, ensuring accurate accounting and recognition of interest income in case of defaulted accounts.

4. Accounting Write-Off and Write Back of Accounts: The system facilitates the handling of write-off accounts, allowing users to manage both manual and automatic write-offs. Additionally, Our LMS supports the write-back of accounts, ensuring that appropriate adjustments are made when accounts are recovered.


5. Interest Accrual in Memo Ledger: Our LMS offers support for shadow accounting by accruing interest for written-off accounts in a memo ledger. This ensures that accruals are posted to a separate memo account and not to the customer account for better tracking and reporting.

6. Ability to Define NPA (Non-Performing Asset) Criteria: Institutions can define NPA criteria, including the specific number of days past due (e.g., as per RBI guidelines) for an account to be classified as NPA. Our LMS enables the flexibility to set customized NPA thresholds based on regulatory requirements.

7. Auto Percolation of NPA Status to Linked Accounts: In the case of an NPA account, the system automatically percolates the NPA status to all linked accounts of the customer. This feature ensures consistent classification across related accounts.

8. NPA Upgradation Only After All Accounts Are Standard:
Our LMS supports the upgradation of an NPA account to standard status only when all accounts of a customer (at CIF level) are classified as standard (0 DPD). This measure ensures prudent risk management practices.

#2 Loan Linking 
Our LMS allows financial institutions to link multiple loans to a single customer, providing a comprehensive view of the customer's borrowing history. This feature helps institutions assess the overall creditworthiness of the customer and make well-informed lending decisions. Loan linking ensures better risk assessment and compliance with lending guidelines, enhancing the accuracy and effectiveness of loan management.

imggg.png

Open lending stack

Use Synoriq applications or bring your own peripheral application and connect through Synoriq API Box

Frame 2446.png

Want to Check Our APIs

We have 100+ APIs with rich documentation.

Loan Servicing

Our LMS provides comprehensive loan servicing capabilities, ensuring a seamless and customer-centric experience throughout the lending journey. From delivering essential documents to facilitating effective communication with borrowers, our LMS empowers financial institutions to enhance customer satisfaction and streamline loan servicing operations.

#1 Deliverables

Our LMS generates and delivers the following essential loan-related documents to borrowers.

  • SOA

  • Welcome Letter

  • Repayment Letter

  • Interest Certificate

  • Foreclosure Letter

  • List of Documents

  • Cancellation Letter

  • Rescheduling Letter

  • No Dues Certificate

#2 Foreclosure

Our LMS facilitates the foreclosure process, allowing borrowers to prepay their loans in part or in full before the original loan tenure. Borrowers can request foreclosure, and the system efficiently calculates the final amount due, including any applicable prepayment charges.

#3 Communication Module:

Our LMS offers a robust communication module for effective borrower engagement. The system enables communication through both SMS and email, providing timely notifications and updates on loan-related activities:

a.) SMS: Disbursement, repayment, due date, overdue, closure, interest rate change notifications, ensuring borrowers are well-informed about their loan status.


b.) Email: Automated emails for disbursement, repayment, due date, overdue, closure, and interest rate change, with or without attachments for comprehensive communication.


c.) Email and SMS Trigger Configurability: Financial institutions can configure triggers for specific events, ensuring personalized and relevant communications to borrowers.

d.) Loan Cancellation: Our LMS supports loan cancellation processes, allowing borrowers to cancel their loan applications before disbursal. Borrowers can initiate cancellation requests, and institutions can process them efficiently.

Why We are better than others?

Check out why you should choose us over other lending software

Reporting and Analytics

Our LMS offers powerful reporting and analytics features to gain valuable insights

#1 More than 60+ reports available out of the box 

#2 Functionality to easily create reports as per users liking from our Insights module

#3 Reports can be delivered straight to users mailbox

#4 Downloadable reporting formats for all bureaus (CIBIL, Experian, CRIF, and Equifax)

#5 Integration with CKYC for customer data reporting (Available as an addon)

#6 Standard certificates like interest certificates and no due certificates

#7 Statement of account, repayment schedule, and welcome letter

Integrations and API Support

Our LMS comes equipped with 100+ APIs for seamless integration with other systems. The APIs cover various functionalities, including customer management, account operations, NACH registration, repayment, collateral management, and more. The system is designed to support all inquiry APIs for easy access to account information.

Additional Features

SynoFin Loan Management System stands out as a cutting-edge platform that places a paramount focus on automation, making it an indispensable tool for lenders and financial institutions. By harnessing the power of automation, Our LMS optimizes and streamlines every aspect of the loan management process. From disbursement to and repayment tracking, the system efficiently handles repetitive tasks, significantly reducing manual intervention and the risk of errors. This automation not only enhances the overall operational efficiency but also frees up valuable time for users to concentrate on strategic decision-making and customer engagement. As businesses experience hyper growth and an increased volume of loan applications, Our LMS seamlessly scales to meet the rising demands without compromising on performance or data integrity. With its user-centric functionalities and automation-driven approach, Our LMS serves as a reliable partner, easing the burden on users and empowering them to thrive in the dynamic and fast-paced lending landscape.

FEATURES

7 Reasons why you should go with Synofin Lending Suite

We offers you the best features that every lending management should have

Stability

With 99% of up time. SynoFin provides stability like no other System with rigorous testing and robust architecture

Unlimited Scalability

SynoFin is designed in such a way that it can handle a growing user base or increased traffic according to business and peak hours

Flexibility

SynoFin is highly configurable system making it a very versatile product which can cater to maximum business scenarios

API First Approach

100+ APIs available with detailed documentation. Easily integrate LOS, CRM and Collection Apps

Hassle Free Migration

Migration service provided as a turnkey solution

Interactive User Interface

Loan Management system was never so easy with customizable and configurable UI

50+ Report

No need to worry for reports when you have 50+ Reports already available

OFFERINGS

Equally loved by all the teams

our system for every department of your financial Institution

IT Team

  • Highly Secure

  • API-First Approach

  • Excellent Support

  • Cloud-based & Scalable

  • Blazing fast Performance

Operation Team

  • 10+ Processes Automations including
    Nach, Payments, Collections, Accounting and so on.

  • Highly Mature Systems with 50K+ Scenarios handled

  • Easy user interface
    Helps in usage with minimal training

Business Team

  • Ability to configure new product

  • Extensive coverage of all popular loan products

  • In-built co-lending capabilities

Accounts Team

  • Easy Reconciliation

  • Integration capability as per 
    your choice of system

  • Ability to define strategies

  • Separate strategies based
    on
    asset classification

  • Co-lending accounting

MIGRATION

Our System offers the Data Migration from your old legacy System

We offers you the best features that every lending management should have

Discover

Access to the database or database views of existing LMS or through excel files

Analyze

Analyze data through data mapping tools for the conversion process

Migrate

Move data to staging environment using data migration jobs

Convert

Using our ready-made connectors, the data gets converted into SynoFin DB

Test & Optimize

Confirm Data Accuracy through matching Statement of Accounts & Reports

Sync

Sync live data with SynoFin servers using daily syncing jobs

Go Live

Cut over to SynoFin LMS

Check out Why other Financial NBFCs