The Challenge
The challenge for Gestion Multi-Finance (GMF) was to design a customized platform capable of not only managing loans guaranteed by other companies but also ensuring a smooth and intuitive user experience. Given the volume of transactions processed, amounting to a hundred million dollars annually, securing data and funds was imperative for the project's trust and success.
It was also crucial to implement strict controls to comply with the financial system's stringent regulations while incorporating advanced tools for calculating financial ratios, such as the debt-to-income ratio. These measures had to be tailored to meet the specific needs of clients while maintaining flawless compliance.
Customizing contracts according to different types of financial products added further complexity, requiring a flexible and scalable system. The development of detailed dashboards for GMF, allowing for an overview and efficient management of their portfolios, was crucial for providing total transparency and facilitating decision-making.
All these requirements created a complex set of technical and regulatory challenges, requiring a methodical and innovative approach to ensure the platform's success while best serving the interests of Gestion Multi-Finance clients.
The Solution
The solution implemented for Gestion Multi-Finance (GMF) was the integration of our complete suite of products offered by our flovver ecosystem, starting with our loan management software, FinX, which was significantly adapted to meet the evolving needs of GMF. FinX now allows for effective management of relationships with several external companies willing to guarantee a loan made through GMF. Additionally, FinX streamlines operations through extreme automation, saving valuable time for GMF employees.
A collection system was also established to maximize loan repayment, a critical aspect in an industry where losses can be substantial. To further reduce doubtful debts, GMF integrated our credit bureau, Kiipr, for non-institutional loans, which significantly reduced their volume of bad debts.
Finally, as part of promoting best industry practices, GMF was the first to offer its customers our new financial education application. This allows GMF borrowers to improve their financial situation, aligning GMF services with the industry's standards of excellence and responsibility.
« Over the years, flovver has played a crucial role in supporting the expansion of our business and connecting us with partners whose goals are aligned with ours. With every challenge we faced, flovver has been by our side, offering constant support and assistance. We greatly value this collaboration and express our deep gratitude for their ongoing support and dedication. This relationship has been fundamental to our growth and success. »
The Result
The success of our collaboration has enabled numerous borrowers, previously excluded from the traditional financial system, to quickly secure loans, aware that although the borrowing cost is higher, the fees are regulated by an entity committed to improving the industry. Our solution has enabled GMF to effortlessly process over 5000 loans monthly. The established platform is both robust and secure, allowing GMF to continue its expansion and ensure sustained growth of its business.
500%
Growth in lending volume
85%
Reduced effort required for managing a loan
100M+
Annual transaction volume