We have a continuous development approach so we are always adding new features and enhancing existing ones. Here is a summary of our current features as of Q2 2017. We deliver software updates weekly. Major updates monthly (typically).

CORE FEATURES

  • Create unlimited Clients (customers, borrowers)
  • Capture unique Tax ID from each client and use it as a search criteria.
  • Create unlimited Identification document types.
  • Customize Client Numbers generated by LoanCirrus.
  • Create unlimited loan applications
  • Upload documents, images and signatures
  • Add Assets across several asset categories.
  • Use assets as collateral in any loan application.
  • Apportion any amount of an asset as security in a loan.
  • Track the expiration of asset appraisal dates and value.
  • Capture client employment data and check length of employment. Under 6 months require previous employer information.
  • Allow for the addition of up to 3 references.
  • Assign and reassign clients and loan accounts to Credit Officers dynamically.
  • Capture unlimited client notes.
  • Create unlimited loan products.
  • Define Interest Rate calculation methods at the loan level
  • Define loan term - minimum and maximum at the loan level.
  • Define loan interest rate range at the laon level.
  • Define allowable loan amounts at the loan level - minimum and maximum.
  • Define the repayment periodicity of the loan
  • Define if a loan is a Term loan.
  • Define Ballooning behavior.
  • Define Accrual frequency
  • Define repayment allocation order
  • Allow rules to be created on fees
  • Allow for Ad hoc, manual fees that can be applied anywhere/anytime.
  • System automatically prevents possibility of duplicate loan products.
  • Apply specific process workflow at the loan level. Workflows must be attached to each loan product.
  • Allows for repayments to loan accounts
  • Allows for topping-up a loan
  • Allows for rescheduling a loan 
  • Allows for Paying Off a loan before maturity date
  • Allows for Writing Off loans.
  • Automatic creation of Escrow Savings account with each client created. 
  • Automatic transfer of funds from Escrow Savings accounts to pay loan repayments. 
  • Ability to add Co-Applicants to a loan application
  • Ability to add Guarantors to a loan application.
  • Ability to create Income categories and capture income at the loan application level
  • Capture banking information for each loan.
  • Ability to create expense categories and capture expenses at the loan application level.
  • Calculate Debt Service Ratios and provide visual charts.
  • Define Input document types and link them to loan products.
  • Define output documents and link to loan products.
  • Allow for the creation of output document templates and populate with placeholder data for dynamic inclusion into the documents when outputted.
  • Download, print and email output documents.
  • Transaction log 
  • Activity feeds for loan accounts and client activities
  • Manager's Dashboard with charts.
  • Reports can be exported as CSV and EXCEL and shared by email
  • Tables can be exported as CSV and EXCEL
  • Columns can be added to Tables dynamically by the user.
  • Columns can be sorted by headers
  • Tables can be searched
  • Global search for clients and loan accounts
  • Ability to add any of 168 currencies and to create loan accounts using any currency.
  • Currency exchange rates kept current automatically via daily online link.
  • Create unlimited fees and penalties.
  • Create rules for applying fees. Link one or more products to the rule.
  • Create grace periods for penalties
  • Create Arrears Grace to distinguish late days from arrears days. 
  • Ability to reverse payments. True reversal of the transaction footprint.
  • Create role and users
  • Assign any one of over 50 permissions to any role.
  • Users inherit permisions assigned to roles
  • Users can securely manage their passwords.
  • Add Debt Collection companies and Bailiffs 
  • Define how Bailiffs get paid - percentage of collected amounts or flat fee.
  • Ability to assign loans in arrears directly to a registered Bailiff.
  • Ability to define data elements to be used in Scoring 
  • Ability to create scoring parameters and relative weightings.
  • Ability to create score ratings and their numeric ranges.
  • Dynamic scoring as clients and loans are created.
  • Ability to register employers so they can be selected from a dropdown and their particulars auto-populated.
  • Ability to set non-business days and Holidays so that repayments can be managed on those days.
  • Ability to create multiple branches and to restrict access to any branch.
  • Ability to create custom process Workflows and link them to specific products.
  • Ability to create custom rules and apply them to any transition step in a workflow. Eg. Don't allow application to be sent to Manager for review unless Proof of Address has been collected from customer. 
  • Ability to lock loan accounts and prevent editing at any point in the process. Eg. lock loan accounts upon approval OR when approval has been requested.
  • Ability to have notifications sent to any user defined in a workflow when a workflow step is changed. For example, send a notification to loan officer when a loan is approved by the Manager and also copy another staff member.
  • Ability to define funding sources and have them selected at time of disbursement.
  • Ability to set provisions for bad loans and to see those provisions relative to actual arrears age. 
  • Ability to manage collections proactively by seeing loans that are coming due in the future. 
  • Ability to manage current arrears by age.
  • Ability to manage loan applications through several sub states
  • Quick Calculator so Loan Officers can pre-qualify clients before starting an application.
  • Ability to capture comments with user, date and time stamp
  • Color coded loan status for quick identification
  • Customize accent colors used in the application.
  • Ability to add your own logo and branding.
  • High availability infrastructure.
  • Fully scaled for high loan volume transactions. 
  • Rolling 12-hour backups, weekly full backup.
  • Bulk loan repayments and auto-application to loan accounts.
  • One click to send loan statements to your customers.
  • Write-off penalty at time of repayment directly onto repayment window.
  • Full customer communications suite across email and SMS. Customer-level communications settings.
  • Event triggers that initiate the sending of a notification linked to that event. 
  • Customizable email and SMS notification templates.
  • Track and view full details of each payment made on an installment.
  • Searchable transactions ledger
  • API connections (connecting other Software to LoanCirrus)

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