Loan Application Processing System | Financial Product


Today's Financial Institutions face competitive challenges that were unheard of a few short years ago. Loan departments are often working manually or with a systems which are slow, inefficient, or both. APSIS is aware that successful competitors need top quality tools, and we have responded by developing LAPS which is our Loan Application Processing System. Our technical analysts spent time carefully observing and documenting the loan-processing workflow. Based on input from functional experts in the banking industry we have incorporated many new and innovative features into this exceptional loan-processing product. The system is based on a number of basic criteria from technological, functional, statutory and legal perspective.



Reduced Risk:
LAPS provides a comprehensive depth analysis and recommendation for the decision maker. This eliminates human error and reduces the risk of providing loans which can later turn out to be Bad debts. Personal Risk Management facility evaluates applicants for Liquidity, Collateral and Credit History. Commercial Risk Assessment assists users in analyzing financial data, financial ratios and comparing them with industry standards, lender standards and loan product standards.


Optimized Processing Time:

LAPS enables the flow of loan applications through various stages seamlessly within time frames provided for each flow point. This workflow integrated with Standardized and up-to-date application forms, smart links to policies and procedures, management control tools, Document Scanning, risk analysis and recommendation reports enable at least 70% reduction in processing time.


Mobility of Users:
Users can interact with the system even staying outside the office through getting task alert, SMS, Email in handheld.


Reduced Lending Cost: :
The decrease in processing time and making it a paperless solution reduces labor cost, paper and printing cost, telephone cost etc.


Management Control: :
LAPS assists the management team to monitor and control Loan Service Operations, Customer Performance, Business Quality (branch performance, staff performance, loan product and Renewal Management). LAPS provides outstanding reporting capabilities which facilitate performance review of loans & personnel across various levels & structures of the organization.


Customer Satisfaction: :
Customers dealing with lending institutions using LAPS are guaranteed quick quotes, faster processing time, better customer service, easier to apply as a repeat customer and can be guaranteed of better one to one experience.



Agreement Management
Product life cycle starts with an agreement registration. LAPS supports different financial products like Leasing, Term Finance, Hire Purchase, Sale & Lease Back etc. Various products with structured payment schedule, multiple IDCP rate, delinquent charging and Grace Period options are available. Agreement Documentation checking, security checking for receipt of PDC, Sanction Amount and etc are included as well.


Application Form For Loans
The application form captures all the details typically collected regarding the loan product, interest rate, amount requested and other items such as the duration of the loan, principal loan amount, and the financial standards against which the borrowers standing will be compared.


Risk Assessment
This module is designed to capture the required financial data in detail of current assets, fixed assets, current liabilities and long-term liabilities to enable the system to perform a thorough risk analysis of the borrower against preset ratios and deliver to the reviewer a comprehensive picture, which leads to a well-informed decision.


Loan Pricing
The loan pricing module provides a comprehensive and detailed analysis of each loan. LAPS will recommend pricing based on the lender's management policies for each loan type or classification. The system presents a comprehensive analysis of cost and revenue components, such as: Minimum Return, Cost of Borrowing, Borrower Risk Rating, Lending Personnel Cost, Overhead Cost, Debt Recovery Losses and Cost of Unused Funds. All these components are used to make a timely and informed decision for pricing Commercial Loans. Interest rates can be determined either manually or with the pricing module.


Work Flow
The most critical feature of LAPS is its Workflow management tool, which allows an application to be initiated, routed to the appropriate staff in a pre-defined sequence, processed, tracked, and eventually completed and filed. This module facilitates electronic processing of the loan application between several "work flow points" which can be set up to meet the unique needs of every organization depending on their size, structure and review/approval methodology. The system assures that there are no delays in the processing of the loan. Efficiency reports can be generated to reveal any recurring delays at specific "flow points" so that corrective action can be taken.


Document Archiving/Management
This module gives lending institutions the ability to digitally capture and store various documents that may be required as part of the loan package. It becomes easier to transfer the loan package to the next point in the process without the need for stacks of paper work to accompany the application.


Loan Committee
The Loan Committee Module can efficiently control information flow to decision makers for loan approvals. Loan Committee members can be in different locations, but still be able to view all or any part of the complete loan documentation. This module will allow the lender to assign multiple committees based on loan amount or loan classification.


This module uses the amortization schedule of the loan and compares it to actual remittances. It is also designed to generate alerts in the event a payment is not made on time or for the appropriate amount.


One very valuable feature of LAPS is the number and variety of data and reports that can be generated for review and analysis. From product popularity and processing efficiency, to application status, there are large numbers of reports available for each level of the organization. These reports enable different types of analysis for strategic management and presentation of data for review by senior management.