MSCS Software

The loan management module of the MSCS software is tailored specifically for multistate cooperative societies, providing support for a diverse range of loan products. As a top RBI-compliant solution, it oversees every stage of the loan process, from initiation to finalization. Equipped with built-in functionalities such as the CKYC module, online payment and repayment options, and more, it enables effective management and ensures adherence to regulations.

The MSCS Software caters to a wide range of loan management needs, encompassing personal loans, business loans, startup loans, and working capital loans. These loans are extended by financial institutions to self-employed individuals, salaried persons, or small businesses, typically without necessitating collateral or security.

MSCS Software provides specialized solutions for managing mortgage loans, home loans, and property loans. Mortgage loans are commonly utilized for acquiring properties like homes or land, with the property serving as collateral for the loan. Moreover, MSCS Software offers dedicated modules for managing vehicle loans, catering to both new and used vehicles. These loans are secured by the vehicle itself, ensuring full collateralization.

Key Features

• Driven by electronic processes rather than documents, ensuring paperless and calculator-free processing.
• A unified platform for seamless loan processing, encompassing application submission, document management, data collection, approval workflows, fund disbursement, monitoring, collection, reporting, and closure.
• Define and administer term loan schemes, manage interest revisions, and process fees efficiently.
• Interest revisions for each loan type can be configured to apply exclusively to new loans or to all existing loans. The interest calculation system automatically accommodates these revisions.
• Provision for Equated Daily/Weekly/Monthly Installment (EDI, EWI, EMI)
• Loan application recommendation report.
• The surety or guarantor can be either a customer, property, vehicle, income, or a combination of these factors.
• Automated calculation of interest rates, finance charges, eligible amounts, late payment charges, etc., based on predefined rules.
• For installment collection, options include setting up standing instructions for automatic EMI debits as well as facilitating online direct payments.
• Applicant and Co-applicant loan.
• Schedule for EDI, EWI and EMI.
• KYC Compliance.
• Integrated financial accounting.
• Calculating the interest amount from a specified date and determining the date when the interest was applied based on a given amount.
• Creation of a customizable asset grading system and generation of a report on non-performing assets (NPA) based on user-defined criteria.
• Displaying transaction history in a tabular format on the ledger entry screen.
• Enables processing of payments in multiple parts.
• Calculation of rebates.
• Adjusting EMI installments in response to changes in interest rates or fluctuations.
• The total liability of the borrower and any co-signers or guarantors.
• Notice generation
• Different formats of statements showing arrears or balances.