Alternative Lending Software

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Alternative lending software

Andersen is a Fintech software development company that offers custom development of any financial vehicle for business or personal use, outside of traditional loans. This includes loans from non-bank sources, like private lenders or online crowdfunding platforms, and a variety of funding vehicles that are not loans.

Mobile lending apps

Andersen's Fintech app developers help to drive business growth with modern and integrated alternative lending solutions. The most common features are:

  • Instant loan app development

  • Loan calculator

  • Personal data encryption

  • AI-based analytics

  • Crowd lending mobile apps

  • Digital verification

  • Admin panel development, user management, partner management

An opportunity to offer financing services to borrowers with low credit scores, structure loan plans to meet the needs and repayment capacity of customers, and refinance or renew mortgages and credit history by encouraging prompt payment.

Automated underwriting systems

Loan servicing software helps in every step of process automation for things like collections, payments, and mass communication. The most common features are:

  • ML-engine development for underwriting

  • Credit history bureau integration, blacklist integration

  • Financial modeling software

  • Generation of real-time loan decisions via API

  • Underwriting and verification workflow design

  • Customization and connection to Applied Epic, QuoteRush, PL Rating, Applied Rater, and BriteCore

  • Risk pricing management

Improves your decision-making when determining a loan's eligibility and pricing. Information on the creditworthiness and payment behavior of customers and options for rule-based process support allows for control of a client's portfolio.

P2P lending software

Digital lending software connects borrowers and loan investors in real-time. Mobile lending apps help alternative lenders meet their goals by expanding the parameters to include specific loans. The most common features are:

  • KYC/AML verification

  • Integration of credit scoring solutions

  • Loan calculation

  • Loan life-cycle automation

  • Payment API integration

  • SME lending software

P2P lending solutions streamline fund allocation by enabling lenders to predetermine approval criteria (amount, terms, and duration) based on the type of loan, credit risk, region, and lifetime value.

Marketplace lending platforms

Use online platforms to connect borrowers with investors willing to provide loans. These platforms offer both new loans and refinancing, allowing individuals or SMEs to provide loans to other borrowers. The most common features are:

  • Loan origination tracking

  • Loan rates and repayment management

  • 360-degree borrower's view

  • Loan comparison solutions

  • Loan term customization

  • Loan calculation solutions

  • Lender partner management

Applicants prove income and creditworthiness through tax or bank records or provide a forward-looking business plan. Or, lenders make decisions based entirely on the borrower’s self-declared statement. Balance-sheet lending is another form of platform lending.

Microfinance software development

This type of software provides microfinance institutions with a flexible environment that improves distribution, offers faster product definition, and includes better risk insight and financial reporting software solutions. The most common features are:

  • Product catalog, product factory

  • Debt collection software

  • Customizable dashboards

  • Insurance API integration

  • Loan processing tracking

  • Loan disbursement and recovery

  • Financial analysis software

  • Risk management and reporting solutions

  • Liquidity and fund management

When FinTech software development is outsourced, the team develops procedures and powerful reporting functionality that optimizes the workflow to meet the demanding requirements of a microfinance software institution and simplify the sophisticated loan process.

POS lending solutions

Merchant onboarding and scaling pose significant challenges for POS lenders. It’s time-consuming to cultivate technology relationships and complete integrations. Lenders are looking for faster and easier ways to onboard new merchants and more flexible ways to provide their customers with a better user experience. The most common features are:

  • Virtual card issuance

  • Document flow management

  • Chat via text or video with lenders

  • Jit (just-in-time) funding

  • Online loan application processing

  • Loan status tracking

  • eSignature integration

Lending software development for POS systems provides lenders with an easy way to leverage automation by offering relevant pricing, quotes, and products via desktop and mobile devices.

Contact us for a free financial services IT consultation

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What happens next?

Our expert contacts you shortly after having analyzed your business requirements

When required by you, we sign an NDA to ensure the highest privacy level

Our pre-sales manager submits a comprehensive project proposal. It may include estimates, timelines, lists of CVs, etc., for a particular situation

The team assembled for your IT project can start delivering within ten business days