Brief Overview of the project
Develop a comprehensive mobile app and admin dashboard to facilitate the end-to-end loan
application process.
The primary goal is to streamline lead generation, customer onboarding, document
verification, credit scoring, and loan disbursal.
❖ Customer On boarding – Physical & Digital (Phygital)
❖ KYC validation and Verification
❖ Data Processing
❖ KYC Verification
❖ Financial Analysis and Plotting
❖ Underwriting
❖ Field Investigation – Demographics, Employer and Social
❖ Post Sanction Document Collection – Agreements, NACH
❖ Non Discrepancy Check – Post Sanction Scrutiny
❖ Disbursement
❖ Logo – GoldNoon Fintech Logo Design
❖ Colors – The design will be built around a coordinated color palette that will provide
the professional and elegant look desired by the client while maintaining the
cohesiveness of the website. 3 color template
❖ Fonts – The fonts’ family, size, and color combine to maintain a professional and
cohesive Feel.
❖ Images - The client will submit photos, graphics, and individual product images which
may be modified by the designer to meet the overall design requirements of the site
❖ Layout – The design must take into account the content that will appear on the app
to ensure its usefulness and readability. Certain elements will need to be highlighted
more so than others,
❖ Overall – Once all the elements are pulled together, the GoldNoon will determine if
the design meets our users' needs.
❖ Responsive Design –Responsive web design is the practice of building a website
suitable to work on every device and every screen size, no matter how large or small,
mobile or desktop User Side Features:
1. Efficient Lead Management:
○ Enable sales representatives to create and manage customer leads effectively
through the mobile app, ensuring accurate and timely data capture.
2. Smooth Onboarding Process:
○ Facilitate a smooth and user-friendly onboarding process for customers,
incorporating Aadhar card, PAN card, and basic personal details. 3. CIBIL
Assessment:
○ Implement a reliable credit scoring system by integrating CIBIL score checking
to assess the eligibility of customers for loans.
4. Document Verification:
○ Provide a secure and efficient platform for document verifiers to authenticate
and verify customer-uploaded documents.
5. Comprehensive Loan Management:
○ Ensure robust loan management capabilities for administrators to track loan
details, monitor repayment status, and manage any exceptions or issues that
may arise.
6. Security and Compliance:
○ Implement stringent security measures to safeguard customer data and
ensure compliance with relevant data protection and financial regulations.
7. Reporting and Analytics:
○ Provide a robust reporting and analytics system within the admin dashboard
to facilitate data-driven decision-making.
Admin Panel Specifications
Technologies
● React.js with Redux
● Tailwind CSS
● Nodejs
● Express.js
● PostgreSQL
Scope
1. Authentication & Authorization:
● Login
● Forgot Password ● Reset Password
2. Dashboard:
● Show counts of users, and customers based on their status,
● Total amount disbursed ● Total EMI received
● Today's loans disbursed
● Todays EMI received
● Total Penalty collected
● Today’s Penalty collected ● And others Reports as Required
3. User Module:
● Capture and store user information securely.
● List users with search and filter functionality
● Give role and permission to access the admin module
4. Role & Permission :
a. Implement RBAC based admin panel for logged in by different users and
perform their activity
5. Customer Module:
a. User-friendly interface to see customer details
b. Show documents status and its details in the detail page
c. Display status of customer, its applications and and ongoing loans
d. Export functionality to export customers in the csv format
6. LOS Module L1/L2/L3/L4/L5/L6 ( Two Departmental Functions)
a. Operations Department
Overview: Operations department has to take care about the documentation
part, clarity of the documentation. That is cross verifying with the different
websites from the government. For example, if it is a labor department
license, it has been renewed. Whether the dates given in this certificate and
as per the records are matching or not, these are the things that the
operations department does.
i. User-friendly interface to see loan details
ii. Show documents status and its details
iii. Document verification process auto and manually iv. Once the
operation department is okay with the documentation part and the
basic details from the customer, it will go to the credit department.
b. Credit Department
Overview: Credit department has to take care about the ratings of the
customer. Based on the parameter we have set they will feed the data and
rating calculation will take place.
i. User-friendly interface to see loan details
ii. Show documents status and its details
iii. A form to perform customer survey
iv. Once the credit department is okay with the application, Application
can push to the lenders for further process.
c. Agreement eSign:
i. Secure process for agreement e-signing for our lenders
7. LMS Module L1/L2/L3/L4….
a. User-friendly interface to see loan details
b. Show documents status and its details in the detail page
c. Display status of loan, reviewing admin user and EMIs
d. Option to calculate penalty or manually put penalty for missed EMIs
8. Collection Module:
a. Show loans under the collection part.
b. Include a dedicated dashboard within the admin panel to monitor penalty
calculations, overdue accounts, and escalation statuses.
c. Implement features for tracking the history of account escalations and
interventions by the collection department.
9. Settings Module:
a. Allow admin to provide SMTP account
b. Allow administrators to configure penalty rates, grace periods, and other
parameters through the admin panel.
c. Allow administrators to configure other 3rd party keys
10.Report and Analytics:
a. Generate reports on approval rates, rejection rates, and turnaround times.
b. Based on Total customers, how many got approval, how many got payment,
how many got penalty etc.
Mobile App Specifications
Technologies
● Dart
● Flutter
● GetX
● Nodejs
● Express.js
● PostgreSQL
General Requirements
● Compatible with iOS and Android platforms.
● Implement SMS notifications to alert customers about the onboarding process.
● Implement SMS notification for OTP verification
Sales Manager Application Scope 1.
Authentication & Authorization:
● OTP based login
2. Sales Lead Management:
a. Capture and store customer lead information securely.
b. Include fields for customer name, contact details, and initial lead details.
c. Ability to manage leads for potential customers.
3. Customer Onboarding Workflow:
a. Initiate the onboarding process for a lead by capturing essential details.
b. Integration with Aadhar & Pan card verification services for secure customer
verification.
4. Document Collection:
a. Capability to request and collect necessary documents from customers during
the onboarding process.
b. Secure document storage and management within the application.
5. Progress Tracking:
a. Real-time tracking of the onboarding progress for each customer.
b. Notifications and alerts to sales representatives for pending actions and
follow-ups.
6. Profile Update:
c. Basic profile update of sales manager
Customer Application Scope 1.
Authentication & Authorization:
● OTP based login
2. Onboarding Process:
a. User-friendly interface for customers to input Aadhar card, PAN card, and
basic personal details.
b. Adhar card verification
c. Pan card verification 3. CIBIL Score Check:
a. Integration with CIBIL or similar service for credit score checking.
b. Display the credit score to customers.
4. Document Upload:
a. Secure document upload functionality.
b. Support for various document formats.
c. Aadhar Card, Pancard and GST details verification API
5. Agreement eSign:
a. Secure process for agreement e-signing for our lenders 6. Loan
Management:
a. Show the status of the current loan
b. Display loan details
c. Display all the passed, upcoming and pending EMIs
d. Download Statement of Account in CSV format
7. Profile Management:
a. Show Basic profile information
b. Show uploaded documents, videos
c. Apply for new loan
8. ReApplication of Loan after 6 months of existing loan:
a. Basic Loan form
b. Upload required documents
9. Profile Update:
a. Basic profile update of customer
3rd Party API Specifications
1. CIBIL Score API Integration:
a. Integration with CIBIL or similar credit scoring services.
b. Ensure compatibility with other third-party services as required.
2. Aadhar Card Verification API Integration:
a. OTP based Aadhaar card verification
b. Ensure compatibility with other third-party services as required.
3. Pan Card Verification Integration:
a. Pan card Verification API integration
b. Ensure compatibility with other third-party services as required.
4. GST Verification Integration:
a. GST Verification API integration
b. Ensure compatibility with other third-party services as required.
5. SMS API Integration:
a. Send instant SMS alerts to sales representatives when a new lead is
generated through the mobile app.
b. Provide real-time SMS to send OTP for customer authentication.
c. Provide real-time SMS updates to customers regarding the status of
document verification and loan status.
6. Whats App API Integration:
a. Implement WhatsApp API integration to establish a robust notification system
for sending alerts, updates, and reminders to customers.
b. Send notifications to customers upon in-principal approval, document esign
completion, and loan disbursement.
c. Inform customers about impending penalties via Whatsapp, sms, or in-app
notifications.
7. SMTP Integration:
a. Implement SMTP for sending statements of account or loan details via email
to their registered email ids
8. Firebase push notification Integration:
a. Implement push notifications to send in-app notifications to customers.
9. Bank Account Verification API
10.ABB(Average Banking Balance) Verification
11.GST Analyser
12.ABB Analyser
13.ITR Analysis
14.Labour License verification
15.Lender API Integration
a. Implement Lender API integration to push loan application
b. Agreement e-verification
16. AI & ML integrations for further processing of Loan Parameters .
17.Other Integrations to pull data from Govt Based Data sets like https://www.data.gov.in/
resource/list-msme-registered-units-under-udyog-aadhaar-memorandum-andhra-pradesh
and others as required .
Integrations from Finbox/Setu/Scoreme
Backend Specifications
1. Credit Underwriting:
a. Develop algorithms to assess customer eligibility based on credit score,
financial history, and other predefined criteria.
b. Include adjustable parameters for customization.
2. Decision Engine and Risk Assessment:
a. Implement risk assessment models to evaluate the level of risk associated
with each loan application.
b. Create a decision engine that automates credit approval or rejection based
on predefined rules.
3. Lender Integration:
a. Establish a secure integration with the bank's systems to push loan
applications for in-principal approval.
b. Receive and process in-principal approval status from the bank.
c. Facilitate the submission of necessary documents to the bank for further
verification and approval.
4. Agreement eSign:
a. Integrate an electronic signature (eSign) solution to enable customers to sign
loan documents digitally.
b. Ensure compliance with eSign regulations and standards.
c. Implement a tracking system to monitor the status of eSigned documents.
5. Amount Disbursement:
a. Establish a workflow for the secure and automated disbursement of loan
amounts.
b. Set up communication channels with the bank to initiate the transfer of
approved loan amounts
6. Penalty Calculator:
a. Develop an automated system to calculate penalties based on predefined
rules and parameters.
b. Assign unpaid EMIs to collection departments
c. Creating multiple level of escalations for EMI collections Testing
1. Functionality Testing:
a. Loan Process, Penalty Calculation System, Document Verification Testing
etc.
2. Usability Testing:
a. Assess the overall usability of the mobile app and admin dashboard,
considering user interfaces, navigation, and user experience.
3. Performance Testing:
a. Check load time and response time
4. Error Handling:
a. Verify that the system provides clear error messages and handles exceptions
gracefully.
b. Test error scenarios to ensure the system behaves predictably and guides
users appropriately.
5. Security Testing:
a. Perform security testing to identify and address vulnerabilities in the system.
b. Validate that access controls are effective and data is protected against
unauthorized access
6. Regression Testing:
a. Conduct regression testing to ensure that new features or changes do not
adversely affect existing functionalities.
b. Confirm that bug fixes and updates do not introduce new issues.
Deployment
1. Environment Setup:
a. Define development, staging and production environments for testing and
deployment.
b. Ensure that the production environment mirrors the configuration of the tested
staging environment.
2. Continuous Integration/Continuous Deployment (CI/CD):
a. Implement CI/CD pipelines for automated testing, building, and deployment.
Enable seamless and frequent updates to the application.
3. Scalable Infrastructure:
a. Choose a scalable infrastructure to accommodate the growing user base.
b. Leverage cloud services for scalability and flexibility in resource allocation.
4. Backup and Disaster Recovery:
a. Establish regular backup procedures for critical data.
b. Develop a disaster recovery plan to minimize downtime and data loss in case
of unforeseen events.
Maintenance & Support
1. Bug Tracking and Resolution:
a. Usage of JIRA/slack/git tools
b. Outline the plan for ongoing maintenance, updates, and support related to the
penalty calculation and collection department escalation features.
2. Code Refactoring:
a. Conduct code reviews and refactoring to maintain code quality
3. Documentation:
a. Keep documentation up-to-date with the latest features, configurations, and
changes.
b. Ensure that support teams and developers have access to accurate and
current documentation.
4. Training:
a. Provide training to admin users and create documents for the same.
5. Post-project support: 1 Year of free support for any bug and scope changes
These are some functionalities for a brief Idea.
• Sales app o Lead
management
▪ Meeting setup o
Digital Application Form
▪ IMD Collection
▪ Integration with required third-party APIs
▪ E-KYC -Online validation of Aadhaar, PAN, Voter ID, Electricity bills. Auto
generation of KYC report with percentage match
▪ Co-Applicant / Guarantor - add multiple co-applicants, guarantor - follow the
same KYC process for everyone
▪ Non-Individuals - Capture non-individuals
▪ Udyam aadhaar capture
▪ Bank statement / GST / ITR analysis
▪ Property details and pictures including geo-location
▪ Document Upload
▪ Watermarking for OSV compliance o
Performance management
▪ App Dashboard
▪ Performance Tracking
• Credit app(part of sales App) o Make changes to application form in the field - add
co-applicant / swap applicants o PD Audio recording o Bureau hit through API o
Assets detail
o Banking details - statement analysis
o Obligation details and monthly expenditure
o Pending Documents o Capture reference
o Photo / Video / Geo locations capturing of home and shop, applicant /co-
applicant o Income assessment based on 50+ templates for non-income proof
customers
• LOS
o Application form review - validation by central ops team before approving the
login o Dedupe check based on multiple parameters. Dedupe works on
internal, external and LMS.
o BRE - auto check for Go / NoGo and also rule based pricing roi o Timestamp
of every touchpoint - TAT management
o Vendor management - Technical / legal vendor web based login for report
upload o Deviation management o Sanctioning
o Sanctioning/recommendation authority based on approval matrix based on
parameters, product and loan amount o OTC/PDD/LOD management o
Disbursement maker / checker
o Handling of part-payment, full payment, tranches, broken period calculations
o Auto posting of pre-defined charges
o Query management - real time coordination with the field team o System auto
generation of CIBIL post 90 days o Cancellation with rebook functionality o
Complete removal of email based approvals
o Communication on each stage - auto triggering of email to internal
stakeholders and customers
o Custom forms
• LMS
o NPA Management
▪ Asset Classification
▪ Once an NPA, will remain an NPA till the time it is regularized i.e. if 3
installments are pending and then 1 is paid post NPA - it does not
change the asset classification
▪ Bucketing requirements - SMA-0, SMA-1, SMA-2, Substandard-I,
Substandard-II, Doubtful-I, Doubtful-II, Doubtful-III, Writeoff
▪ DPD posting on daily basis
▪ Asset classification based on ageing and not on DPD only
▪ Interest accrual
▪ Post NPA, interest accrual should be posted in suspended interested
account which is a memo account
▪ Post regularization, the same needs to be auto moved to Interest Accrual
account
▪ Provisioning
▪ Provisioning norms for LAP are different from MFI
▪ SynoFin does automatic posting of provision entries
▪ Linked Loans
▪ Asset classification should be by customer and not by loan
▪ If one customer turns NPA then all its loan should be marked NPA
o Repayment management
▪ Ability to manage Pre-EMI in case of tranche disbursements
▪ Ability to generate repayment schedule as Actual / 365 but calculate EMI as per
30/360 calculations
▪ NACH and PDC management
▪ Detailed entry of PDC and SPDC
▪ Handling of presentation process along with accounting for
inprocess transactions
▪ Managing of bounces
▪ Split repayment from multiple co-applicants - multi-NACH
▪ Holding EMI presentation
▪ BBPS integrations o
Charges management
▪ Accrual accounting for loan but cash based accounting for charges -
charges hit the ledger only when they are paid by the customer
▪ IMD management - initial accounting against application and then auto
movement of IMD against loan account on successful loan disbursement
▪ Auto posting of bounce charges on receipt bounce
▪ Auto computation of charges on foreclosure
▪ Auto computation and posting of charges
▪ Granular control on receipt allocation regarding which charge / receivable to
knock-off o Collateral management
▪ Collateral dedupe
▪ CERSAI reporting
▪ LTV
▪ Top up loan on the same collateral o
Rescheduling
▪ Part payment - change in EMI amount or change in Tenor both supported
▪ Rich rescheduling capabilities - Installment change, part payment, rate
change, tenure change, due date change, moratorium o Restructuring
management
o Tranche disbursement
▪ Only interest or principal+interest configurations
o Advance EMI management
▪ 3 different modes of advance EMI o
Knock-offs
▪ Auto knock-off through excess money
▪ Receivable to payable knock-off
▪ Receivable to receivable knock-off - useful in loan cancellation
o Reversals
▪ Knockoff o
Accounting
▪ Separate interest and principal accounting
▪ IndAS accounting compliant
▪ GST Invoicing
▪ IRR computations
▪ PSL details management
▪ Handling of accounting asset classification wise o
System Generated Documents
▪ Statement of Account
▪ Welcome letter
▪ Foreclosure letter
▪ NOC (with blocking/unblocking)
▪ Rescheduling letter
▪ Received LOD o
Insurance management
▪ LAP is often lent with an insurance cover for the loan amount
o EOD/EOM Management
▪ Daily interest accrual
▪ Daily LPI accrual
▪ Daily DPD posting
▪ Daily asset classification change
▪ Installment billing
▪ Monthly provisioning and provisioning reversal
▪ Knockoff
