Use Case: Microfinance Lending Software
Kredit24 is the first fintech startup in Kazakhstan, which took the local credit industry by storm. The company offers short-term payday loans to borrowers who find themselves facing unexpected expenses.
Kredit24 works entirely online, accepting loan applications around the clock. The HES loan platform enables Kredit24 to grant loan approvals within an hour and send cash to users' bank accounts in under 2 hours.
Kredit24 operates without physical branches and requires a high level of process automation. The existing workflows subject to automation include borrower registration, underwriting, loan payout and repayment, payment monitoring, report generation, credit history storage, loan product management and customer servicing. An additional project objective was to create an online loan application form requiring borrowers to upload a scanned copy of their ID in order to minimise the risk of fraud.
The HES team successfully designed and implemented the solution, meeting all of Kredit24’s requirements. Additionally, HES was sure to address all issues concerning security and fraud, while integrating the system with credit bureau data and expanded on the original concept with additional customization.
The HES MFI solution enables Kredit24 to significantly reduce default rates and drive revenue growth through an expansion of its customer base.
After considering several go-to-market options, we went with HES Lending Platform. We had been looking for a secure software solution to run our multiple workflows in a seamless automated manner with no manual touch. Plus, we wanted the system to be nice and easy to work with for the borrowers. The software created by HiEnd Systems has covered all of our needs - from application to reporting and dashboards.