ARBES Technologies launches an online lending application

ARBES Technologies, a leading supplier of information systems for banking and financial markets, has completed the design and development of a brand new fintech product for the complete management and administration of monetary loans. The universal ARBES Lending system allows banking and non-banking institutions to immediately provide financial resources to clients, even remotely.

The mortgage segment reached record numbers last year. According to Hypoindex.cz statistics, banks loaned 250 billion crowns to Czechs, which is a year-on-year increase of 8%. It even surpassed records from the years 2016 and 2017. Extremely low interest rates contributed to the increased interest in mortgages. The market with personal monetary loans also recorded growth. The pandemic is the common factor, which also significantly impacts what types of loans people apply for.

“The current digital trend in lending is automation and ideally, the ability to provide financial resources completely online over the internet. In addition, there is much pressure for the optimization of costs at the branch level with regard to the current coronavirus situation, when online contact is the preferred form,” Ondřej Brojír, Senior Manager of core banking systems at ARBES Technologies explains. There will of course still exist a large group of consumers who require personal contact but still with the goal of being able to manage as much as possible online – to obtain an offer via email and in the case of mortgages, to arrange the estimate and other formalities electronically. Basically, to not have to worry about the administration and to continuously meet with someone in-person.

Consultants Obtain Rapid-fire Vetting and Loan Processing

This is why ARBES Technologies has launched the universal ARBES Lending system used for the complete management of loans while providing assistance with their onboarding and subsequent administration. This comprehensive product is designed for financial institutions such as microlenders, non-banking providers of consumer loans and banks. It is based on the trusted ARBES Core Lending and Core Integration technologies, which contain everything that is needed including more than 100 pre-prepared APIs in addition for connecting to third-party systems, such as registers, which are used more frequently. “If a company is only just starting out in lending or is thinking of an upgrade as part of modernization, we have a version ready in the form of the delivery of a complete solution according to the requirements,” Ondřej Brojír explains.

Thanks to the integration with the Schufa and Camunda partner systems, ARBES Lending also covers standard operations in decision-making processes – loan modelling including fees, RPNS calculations, payment schedule calculations, business rule definitions to define interest rates, processing, scoring, applicant credit check, refixation and refinancing as well as the option to enter an individual price exception. This fintech original will also take care of the complete management of business processes connected to providing and administering the loan – from the delivery of input data up to the moment the loan is drawn, monitoring conditions, activation of the recovery process, automatic generation of interest confirmations, information on the loan as well as notifications, reports, automated sending of email notifications and BPMN2.0 process administration for the client. ARBES Lending uses the connection to public registers (document validity, ISIR, cadastral office) as well as paid registers such as BRKI/NRKI, SOLUS, REPI etc. It also offers automated connections to the CenovaMapa.org and LUXPI services for appraisals and offers a module for external appraisers.

The Power of a Competent Product

ARBES Technologies has many years of experience with providing systems for loans. Over the last few years, it has focused not only on support in the core system including API but also mortgages. The uniqueness of ARBES Lending rests in its competence as well as in the product itself. “We offer the highest level of support even at the very beginning stages when considering the provision of loan services. Moreover, our system is so flexible and open that it can be integrated into the client’s current systems. We actively search for additional processes during implementation for partial or full automation and robotization of the organization, into which it is implemented,” Ondřej Brojír asserts.

The goal is to optimize costs and ideally operate a solution from one stable provider who has the competence needed and is able to offer services while also having experience with integration and implementation of applications related to it – processes, documents, onboarding, AML, KYC, registers etc. On the other hand, when several suppliers are involved, the provider can incur additional costs for integration and runs a potential risk with regard to quality and the delivery schedule.