Loan Demo App
Loan applications made easy
About
This loan lending app allows loan companies to remotely onboard customers with e-KYC with application approval via video conferencing, digital signature stamping and loan disbursement plus tracking. Say goodbye to making trips to make loans.
Users and Goals
Use cases and stakeholders
Borrower
- Verify identity of oneself using e-KYC for remote onboarding
- Select loans available and submit loan applications online
- Select date for video conferencing to discuss loan terms and conditions
- Receive approved digital loan agreement with digital signatures on app
- Track and manage loan repayment on app
Lender
- View e-KYC results and decide whether to accept borrower or not
- View loan applications and supporting documents provided by borrowers
- Suggest and set dates for video conferencing to explain about loan agreement to borrowers
- Provide approved digital loan agreements with digital signatures on app
- Track and manage loan repayment by borrowers on app
Market Opportunity
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Total licensed moneylenders registered with the Ministry of Housing and Local Government (KPKT) in 2019, summing up your potential customers
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Percentage of loan applicants comfortable with completing loan application online through a laptop or desktop in 2019
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Percentage of loan applicants willing to electronically sign documents using a mobile device in 2019
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Percentage of loan applicants who used computers or mobile devices to complete a portion of application in 2019
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Percentage of loan applicants willing to take picture of their loan documents on a mobile device for uploading in 2019
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Percentage of loan applicants willing to upload a selfie from a mobile device for identity verification in 2019
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Percentage of loan applicants who used mobile device to initiate housing loan payment in 2019, which doubled from 2018
App Features
- Borrowers
- Lenders
Loan Demo App for
Borrowers
e-KYC
- Authenticate identity of oneself against their captured NRIC or Passport with our AIV or Applicant Identity Verification
Loan Products
- View and select from the loan products available
- Fill in the application form and hand in supporting document
Video Conference
- Select dates of appointment available for video conference to discuss and approve the terms and conditions of the loan
- Sign loan agreement with digital signature and time stamping, which drawdown starts upon approval with time stamp
Payment Approval and Schedule
- See amount payable per month with date
- Set recurring payment
- Interact with this app preview
Loan Demo App for
Lenders
Manage Application and Repayment
- View status of loan application following a checklist of processes
- Set available dates for video conferencing once loan is approved
- View status of loan payment and interest rate of each borrower
- Create loan products for borrowers to choose
Loan Statistics
- View total money loaned and paid back
- View money loaned and paid by individual borrowers
- View listings of verified, processing and rejected borrowers, with their respective e-KYC and video conference information
- Interact with this app preview
