Use Case: Offline Microfinance Platform
With offices located all across southern Russia, Prime Zaim offers its customers instant payday loans. Loans are available online and offline through the Prime Zaim branch network and are provided without a security check or extensive credit checks. Loan repayments can be made in cash at local offices or through other electronic methods. Prime Zaim – already the biggest offline MFI in southern Russia – plans to grow by extending its branch network and adding new product offerings.
Prime Zaim was looking to shift away from its legacy offline software and embrace new technologies and business opportunities. It required a solution that would reduce manual tasks related to loan origination, underwriting and servicing, focusing on the offline channel. HES provided the necessary tools to lend with confidence through automated software.
HES developed a solution for Prime Zaim based on the HES microfinance platform framework, utilizing its offline loan management capabilities. The offline functionality allows Prime Zaim to automatically generate credit documents and keep a detailed record of relevant cash operations. Specific reporting capabilities aid in retrieving necessary data, which leads to lower government auditing costs and regulatory compliance. Offline loan applications can be processed within five minutes. Loan decisions can be made within ten minutes and coordinated over the phone, after which cash advances become available for pickup at any local branches.In addition to revamping the outdated offline loan solutions, HES also helped Prime Zaim tackle loans issued online as well. With just two clicks users can originate loans which can be paid out to their credit card within an hour of application.
With offices located all across southern Russia, Prime Zaim offers its customers instant payday loans to help them buy something they have long been saving for or regain control over their personal finances.