Loan Anywhere

Applicant Details
Home Page
Financial Information
Loan Details
Loan Offers
Loan Approval

Right now, in order to buy a loan, users need to submit a loan application to the bank of their choice. But there is no surety that the bank approves that loan as well as that they provide some attractive interest rates. Visiting multiple banks, submitting applications, and waiting for decisions is a tedious and time-consuming process.

In order to solve this problem we are introducing our application 'Loan Anywhere' which is a platform that helps users to connect to multiple banks, view their offers and buy loan products using a single window. The process is very simple, users can login to our application and can submit the loan request. They will be asked for details like Name, Tax ID, Contact Information, etc. Next, they would need to give details on the amount they would like to avail. Finally, the user needs to submit their financial information to the application. All these details will be forwarded to the Partner banks lending applications such as Rainbow- Financial Analyzer. These applications will process the loan request and send back their offers to the Loan Anywhere platform. Thus user will see a list of loan offers. User selects the best one from the list. Further processing will be started for that Loan offer.

We built this application using angular UI and made use of the FFDC APIs such as Party, Credits etc. One main challenge we faced was integration/communication with the legacy lending systems of the banks. Right now for the POC we actually mocked the response from the partner banks for each loan request.

Next goal would be to introduce some AI module to automate the decision process so that the time for taking a decision reduces drastically. Added to that we would also like to include customized loan proposals for customers based on their financial profile using AI engine.