How Our Mobile Loan Processing App Streamlined SMEs Financing For A Financial Firm

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Success Metrics
Real results happen with Mobio Solutions

Reduction in administrative tasks

1 %

Increase in project profitability

1 %

Increase in loan approvals for SMEs

1 %

Objective

A leading financial management firm provides business loans to SMEs across industries such as renewable energy, healthcare, and agriculture. Mobio Solutions developed a real-time financial monitoring mobile application to automate and streamline loan processing, expense management, and other financial operations.

Mobio Solutions partnered with a leading financial management firm to develop a mobile loan processing app designed to help small and medium-sized enterprises (SMEs). This app significantly improved loan management automation and provided real-time insights into financial performance, including cash flow, budgeting, and expenses.

Key Challenges in Automating Loan Processing and Financial Monitoring

Lengthy Paper-Based Processes: The firm relied on manual paperwork for loan applications, leading to time-consuming administrative tasks and delays in loan approvals. This created inefficiencies in processing business loans for SMEs.
Lack of Real-Time Financial Monitoring: The company faced difficulties in tracking project budgets and expenses in real time, making it challenging to manage overall financial performance effectively.
Vendor and Customer Tracking: Managing vendor and customer relationships was inefficient due to the absence of automated tracking systems, which caused delays in project execution and payment cycles.
Complex Accounting and Credit Management: Handling multiple accounts, credits, and invoicing manually was prone to errors, creating delays in financial reporting and credit management processes.
Limited Insight into Financial Reports: The firm struggled to access essential financial insights like invoices, cash flow, and other important reports, which hampered decision-making and financial oversight.
Inefficient KYC Verification and Document Management: The KYC process was cumbersome, involving manual verification and document handling, which delayed the approval and processing of loans, impacting the client’s ability to scale operations efficiently.

Our Solutions for Loan Management Automation

Our Mobile App’s impact on loan processing provides to reduces lengthy paperwork and increases real-time monitoring of finance management. We provided the following solutions to our clients to help them streamline their processes:

Accounting and KYC Verification

Our application automates accounting processes and offers seamless supplier payments and KYC verification features using PAN and Aadhaar cards. That helped our clients manage their businesses more efficiently by saving time and ensuring secure transactions.

Loan Processing

This mobile app provides a streamlined loan processing solution for our client’s business needs. With custom loan amount options and chosen tenure and purpose, our clients’ customers can submit necessary documents such as GST data, ITR, and bank statements for efficient processing.

Loan Agreement

Once approved, clients can sign and upload the loan agreement document for verification and receive disbursement within 24 hours. This app also features a custom dashboard for clients to track loan balance and repayment options, with a closure statement and loan documentation provided upon completion of the loan term.

Budget & Expense Management

We developed features that enable SMEs to track and manage project budgets, expenses, and profitability in real-time. That helps our clients to manage their expenses and projects more efficiently.

Customer/Vendor Management

Our application offers features for efficient customer/vendor management, including budget and payable bill association alog with purchase order of customer/vendor.

Payments & Credit

We developed features that help our client improve their cash flow by enabling them to send invoices, auto-reminders, and access credit through our partners. It helps our clients manage their finances more efficiently, compete, and grow their businesses Also the mobile app tracks and manages all loan-related information in one place.

Reports

The mobile app also generates insight dashboard which shows reports for cash flow, profit/loss, and balance sheets. That helped our clients monitor their financial performance and manage payments more efficiently.

Insight Dashboards

The app provides a range of useful features for managing your finances, including an Insights Dashboard for viewing cash flow and profit loss reports, a Payable dashboard for paying vendors and creating invoices, a Transactions dashboard for viewing all kinds of transactions, and a Payment Scheduling dashboard for tracking payments.

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Business Impact: Increased Profitability and Reduced Administrative Tasks

Increased efficiency and productivity through streamlined loan processing and automation.
Improved cash flow management with better visibility into expenses, budgets, and payments.
Better loan processing for SMEs, with faster approvals and disbursements.
Enhanced profitability through better budget and expense management.
Reduced paperwork and administrative tasks, allowing for a stronger focus on core business activities.
Improved customer and vendor management, resulting in more efficient operations and on-time payments.

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What the Client said about our Services

The app lets us watch our project's budgets and expenses in real-time, saving big bucks. Managing customers and vendors is now a breeze, with fewer payment delays. The loan process is now hassle-free, freeing up precious time and applauding the app's exceptional performance!

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Technology Stack

React Native

MongoDB

Restful APIs

HTML

CSS