Platform
Web | Mobile
Industry
Financial
Country
India
Services
Fintech
Simplified loan accessibility for employees and businesses
Custom solution for end-to-end loan management with repayment-tracking capabilities
Instaclus, a fintech platform, focuses on offering streamlined processes for employees and businesses to access funds quickly. By partnering with businesses, Instaclaus offers employees smooth accessibility to funds, allowing them to manage unexpected expenses within a few hours.
They assist companies of all sizes in supporting their workforce with fast financial assistance by simplifying the loan application process with a smooth and scalable solution. The simplified lending process instantly addresses employees’ and employers’ emergency financial needs.
Client's problem statement
Creating mobile and web solutions that ease and optimize loan processes
Occasionally, in a small to mid-size organization, employees face urgent financial needs, yet the conventional personal loan process is often slow and cumbersome, involving complex documentation, lengthy approval times, and rigid eligibility criteria. So, to eliminate this friction for employees, Instaclaus wanted to build a simplified platform that offers immediate access to funds.
They needed to streamline the loan application process with an advanced tech stack while eliminating inefficiencies and employee dissatisfaction. So, we build customized app and web solutions that enable fast, hassle-free loan disbursements with minimal administrative overhead for both employees and employers. This accelerated process increased satisfaction across the lending process.
Challenges
Managing sensitive employee financial and personal data is a critical challenge, requiring compliance with financial regulations and robust security measures.
Employees require fast access to loans, but delays in inefficient manual processing and approvals hinder timely fund disbursement.
Employees need flexible repayment options that align with varying salary cycles and financial situations, yet providing this at scale is difficult to manage.
As more employees use the platform, ensuring consistent performance and quick transaction processing during peak demand periods (e.g., payroll cycles) becomes increasingly difficult.
The risk of loan defaults and non-compliance with financial regulations presents significant challenges for platform sustainability.
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.
Features
Explore the key features driving success in this project
Automated loan approval system
An automated loan approval process, assessing eligibility based on predefined criteria, reducing manual intervention, and speeding up approvals.
eStamp
A digital stamping solution that securely validates loan documents, improving trust and legal compliance in online transactions.
Signdesk
An electronic signature platform that facilitates instant, secure, and legally binding document signing, expediting loan approvals.
Customizable repayment plans
It allows employees to choose repayment schedules based on their salary cycles, offering flexibility and better financial management.
Multi-Factor Authentication (MFA)
Node.js integrates multi-factor authentication to ensure secure user access, protecting employee and employer data from unauthorized access.
Real-time loan status updates
Provides users with real-time loan status notifications, ensuring transparency and keeping employees informed throughout the application process.
Design
Explore the unique and interactive interface
Tools & Technologies
-
Node
-
Angular
-
MongoDB
Engagement Model
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