Streamlining the loan application process

Solution

• Within mobile app and web solutions, we implemented end-to-end encryption and multi-factor authentication in the backend (Node.js) and frontend (Angular) frameworks. We use MongoDB's secure data storage and conduct regular security audits to ensure adherence to the relevant compliance standards.

• Eliminated manual inefficiency by integrating third-party APIs. With eStamp and Signdesk, we accelerated the accessibility of funds for employees, simplifying the entire loan approval process. We also build a mechanism that offers instant feedback to streamline processes and reduce operational delays.

• Develop a dynamic repayment system to generate customizable loan schedules. It allows employees to select repayment plans, and MongoDB's flexible document storage allows personalized loan terms that consider employees' preferences.

• Utilized cloud infrastructure to scale the platform horizontally. We handle asynchronous processes efficiently and ensure high transaction throughput. With MongoDB's scalable NoSQL architecture, we allowed smooth data distribution and ensured smooth user interaction.

• Integrated automated risk assessment algorithms in the Node.js backend are used to evaluate employee creditworthiness in real time. Implement clear late-payment policies, ensuring users are informed of terms and conditions while tracking repayment histories and legal compliance.