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 loan 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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