Front-end for Two Stand-Alone Solutions to Organize Customized Mortgages
USA
- 1 year +
Client and Business Goals
Our client, a US-based IT company developing solutions for the financial industry, selected our company to build a flexible platform for mortgage loans arrangement. The idea was to create an easy-to-navigate and user-friendly system, which would ensure loyalty from both parties — lenders and borrowers.
The ultimate goal was to automate and speed up the processing of loan applications. The system is aimed to embrace the entire American market, which allows borrowers to apply for loans with no binding to the place of residence.
Extensive experience in the fintech domain and successfully completed loan management projects left no doubt that Symfa would be the best partner for the idea realization.
Solution
The client undertook the back-end part of the project, while creation of the front-end component from the ground up and API configuration were our responsibilities. The task was to develop a single client-facing part for two stand-alone applications — one intended for borrowers, the other for lenders. To enable flawless data exchange in real-time mode between the two apps, we proceeded with communication configuration through WebSync.
The working principle of a given application is based on the data a borrower provides. The more information the user is ready to make available to potential lenders, the more customized and beneficial deals banks will be able to offer.
System capabilities for borrowers
- Remote loan application with no binding to the place of residence
- Possibility to see calculations and track application status
- All the information entered in the system is editable on later stages
- The data obtained from the borrower is processed and stored in the database
- Upon logging in, a borrower can proceed from the last incomplete step
- The percentage level of form completion is displayed
System capabilities for lenders
- System automatically processes data provided by borrowers and manages application forms to generate loan offers
- Competitive environment is created since each lender provides own offer, and a borrower chooses the most suitable one
- Certain data points are provided to lenders subscribed to the service
Technologies
Results
The client highly appreciated our contribution in project development. We completely met the requirements outlined by the client, and also provided our suggestions on the design improvements.
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