App development for fintech companies-finance in blood & technology mastered

14

Remainders

App development for marketplace of loans and mutual funds do have the reminder module that notifies the customer on timely payment of installments, timely receiving the returns on investment and other required notification to the customer. On the other side, notifying the financial institutes on timely receiving a payment or timely payment of returns on investment to the money lenders.

15

Custom Notification

The app development for marketplace of loans and mutual funds include notification feature that can be customized by a user, based on each and every step of the registration like the loan/ investment application, its processing, approval, and disapproval along with the payment or the repayment process.

16

Live Chat

The user can chat with the experts, customer care officers, financial institutes and also with the co-users/co-customers using the online marketplace of loans and mutual funds.

The financial institutes can chat with the experts, existing customers and new customer applying for a loan or mutual funds.

17

Status of Loan

App development for marketplace of loans and mutual funds is integrated with the system to know the loan application status and the stage on which the processing of the loan is.

01

Type of Applications

There exist two sub-apps in an app development for marketplace of loans and mutual funds.

Agent App: It is for the financial institutions to offer and trade on the loans, mutual funds, credit facilities, underwriting and much more.
User App: It is for the customers willing to get loans, invest in mutual funds or to get a stake in the financials.

02

Products on Display

Through the Agent app, the financial institutions or bank can offer varied loans, mutual funds and much more while the customers can search and manage the loans, mutual funds, and other financials through the User app.

03

Linking Bank Account

The users have to grant access and provide their required bank account details to invest or make a purchase of financial products/ services. One can credit the loan amount, debit the investment amount, perform money transfer and manage the e-wallet.

04

Identity Proofs

Authenticate the user’s citizenship, age, and their capacity to repay, invest or mortgage is what the other party can verify. This also involves searching for a legitimate financial institute and avoid being a victim of a financial fraud.

05

Check Eligibility

It is one of the main features to verify whether the customer falls under the predefined eligibility criteria or not. The app has extensions that calculate the loan or investment limits that the user is capable to hold or invest.

06

Monthly installment

Online marketplace of loans Calculate the monthly, quarterly, half yearly or yearly loan installments that the user is bound to pay.

Online marketplace of mutual funds Calculate the amount to invest monthly, quarterly, half yearly or yearly along with the amount of return on investment for the same.

07

Categorizing and Filtering

Through this type of app development for FinTech companies, the financial institutes can categorize and showcase offered schemes for the mutual fund and loan while the customers can filter their search through selecting the loan type or purpose of saving in the mutual funds.

08

Digital Application Form

The digital form is generated as the user selects the category of a loan or mutual fund which asks for details like mode of payment, time duration, rate of interest, returns on investment and much more. Accordingly, the form is processed and approved by the financial institutes or bank.

09

Processing

Once the digital application form is approved by the financial institute, processing of the loan or investment is initiated. The necessary documents are to be uploaded online by the user followed by the verification of documents by the company officials.

10

Human Connect

A customer care service is available for the users to sort out their queries regarding the loans, mutual funds or other financial product or services. It also proves best for the financial institutes to cross check the fed details by the debtor or investor through simply calling the customer.

11

Money Transaction

After full authentication, the amount is credited to or debited from the account which is mentioned at the time of registering on the marketplace app of loans and mutual funds or at the time of filling the digital application form.

12

Settlement & NOC

It is pretty strict when anyone fails to pay back the loan installments on or before the due date. This will update the user with a proper bifurcation of the interest to be paid on the amount that they failed to pay on time. After the due amount is paid, a NOC (Non-objection certificate) is generated and mailed to the user.

13

Disapprovals

The users are updated on the disapproval of their application for getting a loan or investing in mutual funds. A detailed information on the reasons of disapproval by the financial institution and related rectifications required is sent to the user.

14

Remainders

App development for marketplace of loans and mutual funds do have the reminder module that notifies the customer on timely payment of installments, timely receiving the returns on investment and other required notification to the customer. On the other side, notifying the financial institutes on timely receiving a payment or timely payment of returns on investment to the money lenders.

15

Custom Notification

The app development for marketplace of loans and mutual funds include notification feature that can be customized by a user, based on each and every step of the registration like the loan/ investment application, its processing, approval, and disapproval along with the payment or the repayment process.

16

Live Chat

The user can chat with the experts, customer care officers, financial institutes and also with the co-users/co-customers using the online marketplace of loans and mutual funds.

The financial institutes can chat with the experts, existing customers and new customer applying for a loan or mutual funds.

17

Status of Loan

App development for marketplace of loans and mutual funds is integrated with the system to know the loan application status and the stage on which the processing of the loan is.