August 1, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Biz2X launches API-based loan management system to speed up loan cycle

Biz2X, a Noida-based digital-lending platform that enables financial institutions to provide a customised online loan servicing experience for their small- and mid-size business customers, has announced the launch of Biz2X LMS (Loan Management System), an end-to-end API-based platform for loan management, servicing, and collections.

A company release says the LMS is an advanced and comprehensive bank loan management system that automates the entire loan lifecycle for achieving cost savings and enhanced customer experience. It is accessible from REST API and can be integrated with any downstream or upstream system, including core banking systems, accounting software, and consumer-facing apps.

The release says it is a highly configurable platform that can be configured with over 500 different parameters. With an in-built reporting and analytics module, banks and financial institutions can extract, transform and analyse the LMS data.

With REST APIs banks/financial institutions/ NBFCs can also pull the data to their portfolio. With Biz2X API-based LMS, banks and financial institutions can automate all their manual activities by integrating the systems to a single centralised platform.

Vineet Tyagi, Global CTO, Biz2X, claimed in the release that the LMS lies at the heart of some of the largest Indian banking, Financial Institutions and NBFCs. The solution is seamless without any manual intervention by integrating the systems to a single centralized platform, solving one of the most crucial problems of the lending industry. Moreover, this has highly flexible product configuration and easy integration to external /3rd party services and payment gateway integrations”

Biz2X LMS can help banks, financial institutions and NBFCs to get future-ready with an integrated post-loan disbursement monitoring system. It provides a comprehensive view of the borrower’s risk profile and underlying opportunities to enhance the future lending prospects.

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