Loan product setup and configuration
LendFusion enables you to configure your system to do what is required. Define new loan products as the need emerges and add different products into the system with minimal effort.
Every loan product can have different states and phases – these are different statuses of a loan which can trigger different events and actions in the loan management system. You are able to define the phases on your own and set any corresponding actions or triggers with loan events.
Loan events in LendFusion have many functions, some of which include sending out automated messages to customers based on their loan life cycle – for example you might want to send a payment reminder to any customer with an instalment loan 2 days before the monthly payment date. Or perhaps you want the system to auto-generate a task within LendFusion if a customer has signed their loan draft and are now waiting for a disbursement of funds.