The installment Financing System
Our advanced Installment Financing System, developed by experts in the field, helps our clients to maximize their market share and operating profit.
System overview
Installment Financing refers to the use of credit to finance the purchase of expensive durable goods such as automobiles or home appliances that many consumers find hard to pay when purchasing with a lump sum. A lender receives a fee and provides loans to credit-worthy consumers for the purchase of goods upon a contract with a seller on the condition of its repayment over a specified period of time until paid in full.
System Development Scope
The Nation’s Best Installment Financing
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- Integrated clients
- Fund management
- Management accounting
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- New car loan
- Used car loan
- Durable goods loan
- Home loan
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- DW
- MIS
- OLAP
- ALM
Flowchart
Main Functions
| Operational Functions | Detailed explanations of Operation | Features |
|---|---|---|
| Client management |
- Integrated management of basic information and additional information of all customers related to the work, including debtors, a person who are engaged with debtor, guarantors, and affiliates. - Support audit/contract/implementation/claim/payment/Receivables management by embodying Customer Single View - Provides the underlying infrastructure for Customer Relationship Management (CRM) |
- Integrated client management |
| Consultation management |
- Provides simulation to reflect various financial conditions and suppports efficient consultation - Contribute to improving productivity of consultation by making RULE BASE based on product conditions - Provide a search function for the consultation log for each sales specialist - Provide current status aggregation information and search functions by type of consultation |
- Simulation provided - Making RULE BASE product condition |
| Contract management |
- Improve ease of use by minimizing user input - Support for product registration, corporate preliminary examination, contract management, etc. - Support for poor prevention management through preliminary examination by contract |
- Support fast-track contract |
| Collateral management |
- Integrated customer management enables a person who provides security to register and manage customer information - Collective management of real estate details and mortgage establishment details - Automatic calculation of effective collateral - Manage changing history in accordance with preservation of claims during the preservation of claims procedure |
- Registration management of a person who provides security |
| Operational Functions | Detailed explanations of Operation | Features |
|---|---|---|
| Evaulation management |
- Can be reviewed by classifying individual/corporate/ abbreviated evaluation - Assist determination on whether to approve or not with the internal rating based on the credit rating calculated by each customer - Limit calculation according to the calculated internal rating |
- Reject approval and calculate limit according to internal grade Implementation management |
| Implementation management |
- Implementation on an installment basis by item can be possible. - Support for prepayment and settlement of prepayment amounts - Change of financial conditions, adjustment of interest rates, etc. is handled and change history can be managed after implementation. - Support billing operation by automatically generating payment schedule, billing schedule, asset information, etc. |
- Support implementation on an installment basis by item |
| Billing management |
- Automatically generate billing details according to billing schedule - Rework can be proceeded by batch processing by schedule and manual processing by online - Alteration of the payment date and billing information for each customer can be proceeded. |
- Assists rework of manual scheduling at once |
| Payment management |
- Discounts on overdue interest upon payment Process as an advance payment for excess payments - Automatic replacement of suspense payable - Collective replacement of deposits - Real-time or collective reflection by linking with accounting activities when prepayment finalizes |
- Substitution processing of suspense/returnable deposits |
| Follow-up management |
- Automatic change of receiving plan when processing prepayment/partial prepayment - Management of the history of changes in payment dates, payment plans, interest rates, etc. |
- Automatic change of receiving plan when prepayment initiates |
| Credit management |
- Allocation of delinquents according to the distribution rate is carried out to the person in charge of bond management - Support for consultation/collection and performance evaluation of bond managers - Support for legal action/bad debt charge and personal rehabilitation/credit recovery |
- a delinquent distribution by distribution rate |
| Accounting management |
- Support for slip registration, slip approval, slip-type registration, and slip printing function - Managing the general ledger, subsidiary ledger, and daily tables - Daily closing, monthly closing, and settlement management |
- Supports registration function of handwritten slip |
Characteristics and Benefits
Korea's No.1 Installment Financing System
- Developed by ExpertsExperienced consultants and It professionals with profound financial knowledge and know-how participated in the development process
- Stable System DesignMore than 10-years of programming know-how was applied
- System accommodating expansion needsVarious product lines and possible product additions are accommodated
- Verified SystemA lot of financial institutions have been successfully applying and operating the system
- Object-oriented JAVAApplication based on object-oriented JAVA
- Web environment systemUser-friendly web environment