Question 1

What is Scolend?

Accepted Answer

Scolend is a comprehensive and integrated solution for both Lending and co-lending.

It is an integrated LOS, LMS and Co-lending solution.
 • Loan Origination Software (LOS) 
 • Loan Management Software (LMS)
 • Co-lending (CLM-1 Ready)

Scolend comes with never-before-seen features like Lending Process Designer Engine (LPDE) which enables organizations to configure the processes from the front-end without having to code or involve the vendor.

Scolend comes with a customer facing mobile application where customers can seamlessly apply for loans without the bank having to waste time and resources on the application process.

The system is powered by various microservices like document manager, credit & scoring engine and collection management etc. It can seamlessly tie in DSAs and other partners like due diligence and collection agents.

Question 2

Is Scolend for Lending or Co-Lending?

Accepted Answer

Scolend is a state-of-the-art application for both lending and co-lending.

It helps originators and co-lenders manage the lifecycle of the loans in compliance with regulatory requirements. Scolend enables co-origination of loans by two organizations with the approval process happening simultaneously (CLM-1).

It can accommodate multiple interest rates of the organizations and enables to service the customer as one. Scolend maintains identical databases between both organizations with respect to their co-lending business and it also maintains a separate database for each arrangement.

Apart from this, Scolend can also be used as a regular LOS as used by organizations today for their lending business.  It supports all types of products.

Question 3

What is the need for Scolend in retail lending?

Accepted Answer

Retail Lending is at its all-time high and is only going to increase with the increase in people’s standard of living. Financial institutions are continuously having to innovate and create new products to ensure capture of market share and retention of customers. In the last 10 years, many new types of unorthodox loans have been launched which previously seemed unimaginable.

The Indian banking system has many aging retail lending solutions which are an anachronism from the period when technology was just being adopted. It is unlikely to be able to cater to the demands of the market and potentially slow down the scaling capabilities of the bank. Fun fact, the current LOS used by most banks was hand-coded by Dr. Deepak, Founder and MD of SimSol. This is LOS 4.0 designed for decades to come.

With technology changing ever so often, it is vital that organizations move to newer technologies to ensure security, scalability and time-relevance.

Question 4

What is the need for a Co-lending solution?

Accepted Answer

Co-lending solutions are essential for businesses that want to streamline their lending processes, increase efficiency, and reduce risk. Co-Lending will be one of the most sought-after products in the lending space. Complexities in doing this business require continuous collaboration between the originator and the co-lender, offering transparency to the borrowers. Not surprisingly, the pace of growth of co-lending has been slow due to a lack of in-depth integration between the parties.

Scolend, by SimSol has been designed keeping these complexities in mind. It will empower organizations technologically to ensure co-lending can be done easily, with transparency and in a compliant manner. Scolend provides a platform for financial institutions to join forces and share the risks and rewards of lending. By leveraging the capabilities of Scolend, lenders can diversify their portfolios, access larger deals, and expand their reach without increasing their individual risk exposure. This solution is ideal for financial institutions looking to optimize their lending operations, stay competitive, and drive sustainable growth in a rapidly evolving industry.

Question 5

What happens in the Demo session?

Accepted Answer

Our team of experts will give you a free demo of our product(s) as well as discuss how our solutions can be configured specifically to your business requirements.

Question 6

Can we get a Proof of Concept (POC)?

Accepted Answer

SimSol does accept POCs for a charge. This charge is based on the actual effort that will go into the POC based on its scope. However, on success of the POC, when the organization places an order for the solution, this amount already paid will be reduced from the license/subscription cost.

LOS + LMS + Co-lending

3-in-1 Loan Origination System (LOS), Loan Management System (LMS) and co-lending suite to empower banks and NBFCs to lend and co-lend to borrowers

3-in-1
lending and co-lending suite

*Bundle or use as individual modules

Loan Origination System (LOS)

The loan origination module handles the entire process of receiving, evaluating, and processing loan applications

It is designed to accelerate your loan origination process and ensure compliance with regulatory requirements

Use Scolend for lending as a stand-alone LOS or bundle with our LMS or co-lending modules

Loan Management System (LMS)

The loan management module handles all post-origination activities including servicing, payment processing, modifications, colllateral management, collections and reporting

Use Scolend for lending as a stand-alone LMS or bundle with our LOS or co-lending modules

Optimize loan management processes, improve risk management, and gain valuable insights into your loan portfolio, empowering you to deliver superior customer service and drive profitability.

Co-lending Software Solution

Scolend is a state-of-the-art application for both CLM-1 and CLM-2 co-lending business. Equipped with both LOS and LMS modules, Scolend empowers banks and NBFCs to originate and co-lend

With advanced credit decisioning capabilities, including credit scoring, risk assessment, and loan origination

Similar Solutions

Direct Assignment

SimSmart helps Banks and NBFCs overcome challenges with their Direct Assignment deals
(Both Buy & Sell Side)

Resources

What is Loan Underwriting?

How is AI reshaping lending software?

How do lending software requirements differ between banks and NBFCs?

About Us

Information Security Policy

SimSol Code of Conduct

Loan Origination System (LOS)

Loan Management System (LMS)

Co-lending

LOS + LMS + Co-lending

Direct Assignment

Channel Partner Management

NACH/e-NACH Management

Document Management System (DMS)

Post-disbursal DMS

Workforce Orchestration

Procurement Management

Microservices

LOS + LMS + Co-lending

3-in-1 Loan Origination System (LOS), Loan Management System (LMS) and co-lending suite to empower banks and NBFCs to lend and co-lend to borrowers

3-in-1 lending and co-lending suite

*Bundle or use as individual modules

Loan Origination System (LOS)

The loan origination module handles the entire process of receiving, evaluating, and processing loan applications

It is designed to accelerate your loan origination process and ensure compliance with regulatory requirements

Use Scolend for lending as a stand-alone LOS or bundle with our LMS or co-lending modules

Loan Management System (LMS)

The loan management module handles all post-origination activities including servicing, payment processing, modifications, colllateral management, collections and reporting

Use Scolend for lending as a stand-alone LMS or bundle with our LOS or co-lending modules

Optimize loan management processes, improve risk management, and gain valuable insights into your loan portfolio, empowering you to deliver superior customer service and drive profitability.

Co-lending Software Solution

Scolend is a state-of-the-art application for both CLM-1 and CLM-2 co-lending business. Equipped with both LOS and LMS modules, Scolend empowers banks and NBFCs to originate and co-lend

With advanced credit decisioning capabilities, including credit scoring, risk assessment, and loan origination

Similar Solutions

Direct Assignment

SimSmart helps Banks and NBFCs overcome challenges with their Direct Assignment deals (Both Buy & Sell Side)

Resources

What is Loan Underwriting?

How is AI reshaping lending software?

How do lending software requirements differ between banks and NBFCs?

3-in-1
lending and co-lending suite

SimSmart helps Banks and NBFCs overcome challenges with their Direct Assignment deals
(Both Buy & Sell Side)