OpenCBS was selected by FundAccess, a social lender in Barbados providing loans, enterprise training and technical assistance to local entrepreneurs, with the aim of creating new employment opportunities for Barbadians!
The OpenCBS team has just completed an on-site mission to FundAccess in order to perform Business Analysis of FundAccess' requirements. The client will start using the Cloud version of OpenCBS later this year.
Improvements to OpenCBS
Flexible fees registration system. Users can now create new fees separately in a more flexible way, OpenCBS can charge standard fees for each loan product or let an authorised user adapt the fee at the time of loan approval or disbursement.
Registration system for custom repayment methods. The repayment methods can be registered separately, allowing the creation of an unlimited number of repayment methods, which can be linked to bank account or grouped by branch.
Registration of payees. A separate menu was introduced, allowing users to register individuals or companies in order to track payments to/from those payees inside the accounting system.
Discover our new products
Tablet application. Our Android Tablet Application can be used to conduct a fully digital client appraisal. Loan Applications can be received directly on a tablet, taking pictures of client or client's documents. Additional relevant data can be collected on the tablet based on the appraisal procedures of the financial institution. Cash-flows can be defined by Client Officer or loaded based on standard score-cards related to the economic activity of the client. Depending on available network connectivity, the Tablet Application can synchronise with OpenCBS for an immediate credit decision, or once the Client Officer is back in office.
The system is designed to work seamlessly with our Loan Origination solution. In the future, the following functionalities will be added to the Tablet Application: Customer Relationship Management, KYC and collection of Social Performance Indicators.
Loan Origination solution. Our Loan Origination Solution manages loan application, underwriting and approval based on the workflows of our clients. Depending on product, loan amount, client type, application channel or other factors, the loan application can be routed through a specific workflow, and be approved by the relevant persons or Credit Committee.
Checks with Anti-Money Laundering blacklists or Credit Bureau can be set-up, and the solution be linked to a scoring system in order to automate partly or fully the credit decisioning process.
A task management interface allows the user to follow loans that are pending, sent for re-work or rejected, and have a clear view of the loans in the pipeline.
Combined with our Tablet Application, our Loan Origination Solution allows a complete digitisation of the Loan application and underwriting process, integrated with OpenCBS or a third-party Core Banking System.
OpenCBS Web - coming late 2017! OpenCBS is currently developing a Web version, which will have all the features of OpenCBS Desktop application but offer a beautiful web-based interface. Depending on client's preferences and local regulations, OpenCBS Web will be able to run as a web-based application on the client's local infrastructure, or directly in the cloud for a convenient Software as a service experience.
Discover OpenCBS at the following conferences
We are delighted to announce that OpenCBS will be present at the Asia-Pacific Financial Inclusion Summit in Hanoi, Vietnam on March 21st & 22nd, and at the FinTechStage Inclusion Forum on March 23rd & 24th. Our CEO, Mr. Alexis LEBEL, will be happy to organise meetings with potential clients and partners. Feel free to contact us by email!