Biz2X, a Noida-based digital-lending SaaS 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.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.