We have released a number of new modules recently for finPOWER Connect. These help round out the product offering for the system to a complete Loan management system for the modern finance company. It also means that many more of our existing clients can now start looking at upgrading from finPOWER.
With the release of the finPOWER Connect Revolving Credit module we can now offer the full suite of loan types that were in finPOWER. The Revolving Credit Module in finPOWER Connect offers similar functionality to what is available in finPOWER, but adds the ability to have a flexible start-up interest rate and allows interest to be charged on overdue payments rather than just the over credit limit balance.
Functionality such as flexible minimum payment calculations, definable interest and statement cycles and up to 3 credit limits are all retained but are now presented in the user friendly finPOWER Connect user interface. For more information please click here.
If you are using the finPOWER Connect Revolving Credit Module, you can now also utilise the functionality of the Rate Tables Add-On. This Add-On allows you to change interest rates in accordance with a schedule of rates.
Rate Tables are very flexible and can be used in a number of ways:
- Record a base interest rate, then have the interest rate on the account at a premium or discount to the base rate.
- Predefine interest rate changes over a period of time.
- Interest Rates can vary according to the balance of the Account by using a "Tiered" rate,.
For more information please click here.
The finPOWER Connect Advanced External Parties Add-On is available where you have the External Parties Add-On (similar to the Dealers Add-On in finPOWER but with much more functionality) and offers features from a number of finPOWER modules plus a lot more.
These include:
- Disbursements
- Commissions
- Business Development Managers
For more information please click here.
The finPOWER Connect Workflows Add-On is an exciting new module that draws on the functionality of the finPOWER Collections Manager Add-On but introduces a whole new concept of workflow management. Whether the Workflow is for Overdue Monitoring, Collections, Application Processing or Documentation checks, any process that follows a set process of rules and steps can be modeled into a workflow that can be initialised from different triggers within finPOWER Connect. The power of Workflows comes from the logical recording and definition of company processes and policies into simple, user driven steps.
When you combine the above functionality with a powerful visual interface that allows every User to easily identify their progress in processing the workflow and the success or failure of each step in the workflow; you have a very powerful tool.
For more information please click here.
