back Back

CLPS announces new generation of loan management for banks

By Leandra Monteiro

July 08, 2022

  • Clps
  • Digital Lending
  • FinTech
Share

CLPS incorporation, Asia Pacific, Philippines, China, digital transformation, FinTechCLPS Incorporation, announced the development of a new generation of loan management system, a product intended for small and medium-sized banking institutions. CLPS plans to launch the loan management system in Hong Kong and Southeast Asia region in 2023.

In a preliminary market research conducted by CLPS, it determined the eminent demand for a loan management system among its banking clients in Hong Kong and Southeast Asia. With the promising result, CLPS has been optimising its loan management system by integrating its mature products with innovative technology such as blockchain, robotic process automation (RPA), optical character recognition (OCR), and facial recognition.

The goal of the optimisation is to achieve a more comprehensive and streamlined loan process flow, including in mortgage application, credit checking, and drawdown, among others, ensuring the privacy and security of information transmission while effectively shortening the processing time. As a result, customers can apply for a loan conveniently anytime, anywhere, reducing banking institutions’ operating costs and gaining a wider range of new business opportunities.

In the current market, bank loan management systems that adopt FinTech-based technology are mostly designed for personal consumer loans and P2P lending. This situation has led CLPS to develop a new system that can support complex scenarios such as mortgage loans, thus expanding the application scope of the product and filling in the market gap.

To shorten product launch cycle, the new system also consists of parametric configuration which will allow banks to customize the design based on their respective credit rules and target customers. In addition, the secure and efficient integration interface allows it to be freely assembled and disassembled as functional components. Further, it can be integrated seamlessly with a bank’s existing core banking system and with other legacy systems in order to adapt to rapidly changing business needs.

Jackson Yuen, Product Manager of the loan management system of CLPS, said, “From a high-level design perspective, we leverage our expertise in innovative technology and our achievements in fintech to optimize our new product, creating a new generation of loan management system that will reduce costs and increase efficiency among banks.”

“Digital products and services offered by traditional banks should be improved in Hong Kong, as it actively promotes technological innovation in the banking sector,” said Raymond Lin, Chief Executive Officer of CLPS. “We hope to take this as an entry point to further invest in product development and help our clients in building distinctive businesses to remain competitive in the future of digital transformation.”

Previous Article

July 07, 2022

4 FinTechs based out of Sweden

Read More
Next Article

July 08, 2022

Worldline partners with manager.one to manage expense policies on corporate cards

Read More






IBSi Daily News Analysis

Data privacy

June 19, 2024

Clps

EMEA faces $85bn annual financial crime compliance costs, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 19, 2024

Dineo Crédito taps Mambu to bolster lending capabilities in Spain

Read More

June 19, 2024

Ant International unveils ‘bettr’, a global SME digital lending service

Read More

June 18, 2024

4 FinTech startups driving Financial Inclusion for Indian Enterprises

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023