You woke up this morning to an updated LoanCirrus. You won't see much change on the outside of LoanCirrus, but this release was really important and saw several "under the hood" type changes, enhancements and bug fixes. All this means that LoanCirrus is faster, more powerful and more flexible.
- We made numerous bug fixes.
- We added Interest Charging Frequency (Accrual method) to give you more flexibility in designing products that meet the needs of your borrowers. Please play around with them in your Sandbox, the selections will impact your earnings. We will have a detailed article on interest charging frequency soon.
3. We enhanced our Client Scoring and added several parameters for Loan Scoring. Of particular note, you can now use the following parameters in calculating a loan score.
- Asset Value of Collateral to Loan Amount Ratio
- Ontime Payment Rate
- Number of Current Loans
- Completed Loans
- Write-off history (delinquency)
You now have more tools to help you quantify and assess risk. We will continue to add more risk management features.
4. We made several important changes and enhancements to Reports: more sensible Total Row, more filters on each report, stripped currency on exports so that you can more easily manipulate export files and we changed the behavior of the "load more" bar, Reports should be easier and more reliable for you now.
5. You can now share what you are seeing in LoanCirrus with more ease. Wherever you see the share icon, you will have some or all of the following options: Email, Export as Excel, Export as CSV or Print. The option you see will vary based on what content you are viewing.
6. We made several changes and updates at the database level to the way transactional elements are stored.
8. We added "funding source" filters for all reports. You can now track the source of your on lending capital with more precision.
9. We enhanced our loan "Top-Up" feature to automatically pull in interest, penalty and fee balances from the existing loan being topped up.
10. We added banking information at the loan level so that for each loan application you can collect banking information and the banking info will appear on the disbursal modal when "Bank Transfer" option is selected.
11. We enhanced the commenting feature so that a user cannot delete or edit another user's comment. You can do more commenting with more integrity.
12. We heard your requests for more document placeholders. We added several new placeholders to the hundreds already provided. You have more flexibility in communicating with your customers. We added:
- Employer name
- Loan Approval Date
- Fees (in words)
- Fee percentage of the principal sum
- Number of payments in words
- Number (#) of payments in (figures)
- Fee as a percentage of the loan amount
- Arrears Grace Days
- Coming Soon: The Repayment Schedule will be added as a Placeholder soon.
13. We enhanced transaction search so that you can find transactions faster. This includes system generated transactions as well as user generated ones.
14. We heard from many of you on our Collections Management feature. You said you loved it but wanted to see installment - level DUE amounts instead of overall balances. We've made this change and now you will see amounts that only relate to the DUE balances on your loans in arrears.
We hope you find these features valuable in your business and that they will help you become even more successful. If you have suggestions on how we can make LoanCirrus even better for you please send us a note email@example.com
Coming Up Next
- Custom Reports and Query builder. Long awaited and super important for you to be able to build any report you can imagine without any technical know-how.
- Website Integration. Your customers will be able to visit either your own website or one of our template sites that is customized with your content and apply for your loan product. Instantly, they will appear in LoanCirrus ready to be processed.
- Deposit Products. Create deposit products, define their parameters and sell. LoanCirrus will do the same great job of managing deposit products as it does loan products.