Use Case: PDL Online Lending Software
Euro Groshi sources direct investments from the EU for individual clients all across the Ukraine. Through its stated mission to make the lending process in the Ukraine more straightforward, transparent, and time-efficient, the microfinance organisation offers its customers quick and easy access to online payday loans.
Without any physical branches or servicing locations, Euro Groshi’s efforts are focused on perfecting the online lending experience and delivering the vital personal touch.
Euro Groshi needed to implement and comply with European money lending standards. The company was planning to operate online without any physical branches and was looking for a field-proven technology solution for payday loan management. HES not only fulfilled all functional requirements expected behind the scenes, but also created a comfortable UI experience for Euro Groshi clients. The delivered solution handles multiple loan workflows in a single automated environment.
The HES MFI solution gives Euro Groshi a competitive edge by allowing it to issue quick underwriting responses and design customised loyalty programmes. Borrowers benefit from the stress-free application process and quick funding decisions. The credit application process for new customers can be done within 15 minutes, with an additional 30 minutes for loan approval. Repeat customers receive loan decisions within 5 to 10 minutes. Approved loans are automatically transferred to customer’s bank cards (Visa or MasterCard).
We were looking for a solution to launch a payday lending company in Ukraine and one that could be deployed quickly. The idea behind our business is to bring best international practices of online retail lending to Ukraine’s emerging market and ensure compliance with the EU standards. As a mature loan pipeline solution, HES platform fitted these needs. It took us 10 weeks to go live and start originating hundreds of quality loans per day.