Lending Software Development

Get the most out of your app with our custom loan software development services. Create business-oriented solutions that meet users’ needs and expectations.

Book a meeting

Custom Features to Add

Loan application

Allow users to apply for a loan by providing basic personal and financial information. Create a short form with an opportunity to add documents and bank statements.

Credit scoring

Evaluate the user's creditworthiness by checking their credit score and analyzing their financial history. Look through the reports and make sure the customer is able to pay the loan.

Loan calculator

Help users estimate the amount of money they can borrow and the interest rate they will pay. Show customers the possible amount of money they can get without additional approvals.

Loan repayment schedule

Provide a schedule of payments, including the amount and due date for each payment. Send automatic reminders to the users when it’s time to pay for the loan – monthly or weekly.

Payment option

Offer users various payment options such as bank transfers, credit card payments, and eWallets. Set up automatic payments each month from the chosen payment option.

Loan management

Help users manage their loans, including tracking payments. Loan management software development also allows for updating personal information and requesting changes to loan terms.

Loan tracking

Provide users an opportunity to track their loan application status and receive updates on the progress of their application. Send automatic emails with successful payments and loan schedules.

Referral program

Offer customers to refer friends and family to the lending app and earn rewards for successful referrals. Add the ‘Share’ button, so customers can send a link to your app in a few clicks.

Ready to start lending software development? Fill in a short form and get a free consultation with our team within 24 hours.

Book a call

Why Security Is a Key to Your Success

Loan software development requires following security standards and protocols since it is crucial to protect sensitive financial and personal information for a lending app.

01

Integrate strong encryption

All data stored and transmitted by the app should be encrypted using the latest encryption methods to prevent unauthorized access.

02

Implement multi-factor authentication

Multi-factor authentication allows ensuring that only authorized users can access the app.

03

Payment data encryption

Protect your business information from being stolen with payment data encryption. Use different tools to achieve the highest results.

04

Ensure server security

Protect the servers that you use to store and process data are secure and protected with firewalls and intrusion detection systems.

05

Limit access to data

Consider data access rules and regulations. Implement different information access levels and show sensitive data to only those who need it.

06

Customer data retention and deletion policies

Customers’ data will be deleted once the retention time frame is achieved.

Industry regulations to follow

Being a lending software development company, we consider all the necessary regulations, standards, and protocols to ensure the security and quality of the software solutions we build.

Lending legislation standards

Lending legislation standards

  • Disclosure requirements
  • Interest rate caps
  • Consumer protection
  • Credit reporting
  • Fair lending practices
  • Collection practices

Security standards

Security standards

  • PCI DSS (SDP, CISP, AIS)
  • GDPR
  • PA-DSS
  • ePrivacy

Industry methods and workflows

Industry methods and workflows

  • Central Limit Order Book (CLOB)
  • IOI/RFQ/Quote (Negotiation)
  • EMV

Digital signature regulations

Digital signature regulations

  • SES
  • QES
  • AES
  • eIDAS
  • SEPA
  • PAdES
  • AES-XTS
  • NIST

Financial legislation

Financial legislation

  • AMLD
  • MiFID II
  • PSD2
  • MiFIR
  • AML/CFT

Software Development Services We Offer

Loan origination

We can assist you in developing loan origination software that is used to create a new loan agreement between a lender and a borrower. Loan origination software development helps automate and streamline the loan origination process, customizing it to meet the specific needs of different lenders and borrowers, depending on various factors such as the type of loan, the lending criteria, and the regulatory requirements.

  • Application Processing
  • Credit Assessment
  • Underwriting
  • Document Preparation
  • Funding

Loan servicing

Loan servicing through software means using platforms or software solutions to manage the ongoing administration of loans after they have been originated. Our development team creates loan servicing software that automates a lot of tasks such as billing and collections, payment processing, customer service, and regulatory compliance.

  • Payment Processing
  • Escrow Management
  • Customer Service
  • Reporting
  • Compliance Management

Collections management

We focus on lending software development since it requires integrating various features that help collect and manage customers’ information. This also includes automated payment reminders, delinquency tracking, and collections workflows. As a result, lenders can get data and analytics to help them manage their lending operations more effectively.

  • Cataloging
  • Database Management
  • Image Management
  • Loan Tracking
  • Reporting

Credit scoring software

Our team is experienced in credit scoring software development. It requires expertise in machine learning, data analysis, software development, and financial risk management. This software solution gathers information from various sources, such as credit bureaus, banks, and other financial institutions.

  • Data collection
  • Machine learning models
  • Data transformation
  • Information analyzing
  • Creditworthiness prediction

Fraud detection

At Devox Software, we can assist it in developing tools to identify and prevent fraudulent activities. There are a lot of forms of fraud, including financial fraud, identity theft, insurance fraud, and cybercrime. Ongoing monitoring helps ensure the system is effective in identifying and preventing fraudulent activities.

  • Data preprocessing
  • Machine learning models
  • Information analysis
  • Fraudulent activity prediction
  • Risk management

Portfolio management

Our development team is skilled in creating software solutions that allow lenders to manage their loan portfolios. During loan software development, it’s necessary to integrate various features to streamline lending operations and improve portfolio management capabilities, minimizing risks and making better-informed decisions.

  • Loan origination
  • Portfolio collection
  • Payment management
  • Risk assessment
  • Performance tracking

Interest rate calculation

We can assist in making an interest rate calculation software solution that allows lenders to calculate their interest on loans. It provides an opportunity to improve lending operations and increase accuracy.

  • Amortization
  • Interest calculation
  • Payment tracking
  • Reporting
  • Data analyzing

Want to create a lending app? Our team offers a free consultation within 24 hours.

Write us

We Take Lending Software Development Process Off Your Shoulders

We follow the Software Development Lifecycle (SDLC) to ensure development flexibility. The step-by-step process allows for setting clear goals and deadlines and delivering a superior-quality product quickly.

Validate

  • Clearing out the project ideas
  • Defining project requirements
  • Complying with industry regulations
  • Getting the rough estimate

Plan

  • Conducting a risk assessment
  • Figuring out the development time
  • Setting deadlines
  • Getting the detailed estimate

Design

  • Analyzing the competitors’ solutions
  • Creating the visual concept
  • Preparing the brand book
  • Creating the design app screens

Develop and Test

  • Building an app architecture
  • Integrating required features
  • Finding and fixing bugs
  • Ensuring the app meets requirements

Assess Security

  • Checking app compliance
  • Testing multi-factor authentication
  • Undergoing penetration testing
  • Examining data protection

Deploy and Maintain

  • Publishing the app
  • Delivering software
  • Supporting the product
  • Improving software

Our Clients

Technologies we Use

  • Front-end technologies
  • Back-end technologies
  • DevOps technologies
JavaScript
React.js
Angular
Bootstrap
PHP
.Net
Java
C#
Python
Django
MongoDB
PostgreSQL
Flask
Oracle
SignalR
Kafka
GraphQL
RabbitMQ
MS Dynamics
Google Cloud
Docker
Kubernetes
MS Azure
AWS

Case Studies

Function4

Event Management Platform, USA

Function4 is a USA-based professional event ecosystem that offers a simple, user-friendly discovery venue for the financial services sector. The enterprise event management software features a single, real-time dashboard with zero setup for event attendees, hosts, and sponsors. Function4 also provides discovery, data, and tools to help the right people discover the right events.

View case

ActivePlace

Wellness social network and media platform with a marketplace feature, Australia

ActivePlace is a social platform dedicated to health, fitness, and an active lifestyle. It is a three-sided network that connects people with like-minded individuals, mentors, and businesses – all related to physical activity and healthy living. The company approached the development team to create a wellness app that would cater to different categories of users and provide personalized functionality to each member group. The main goal was to build a unique project from scratch that combined social media and marketplace features.

View case

ILVE

Multifunctional showroom assistant for world known kitchen appliances manufacturer, Australia.

ILVE is a global manufacturer of gas and electric household cooking appliances with a reach across 40 countries worldwide. Since 1975, the company has been known as a niche brand specializing in developing an extensive range of built-in ovens and cookers for both commercial and domestic use. ILVE was looking to create a showroom assistant to increase the level of sales and make it smooth for the end client. Besides the end client-facing part, a variety of managerial dashboards were created to allow sales consultants and business managers to execute their functions and have everything controlled in one place.

View case
Browse more

Testimonials Client

Carl-Fredrik Linné Tech Lead at CURE Media

The solutions they’re providing is helping our business run more smoothly. We’ve been able to make quick developments with them, meeting our product vision within the timeline we set up. 

Listen to them because they can give strong advice about how to build good products.

https://www.curemedia.com/
Darrin Lipscomb CEO, Founder at Ferretly

We are a software startup and using Devox allowed us to get an MVP to market faster and less cost than trying to build and fund an R&D team initially. Communication was excellent with Devox. This is a top notch firm.

https://www.ferretly.com/
Daniel Bertuccio Marketing Manager at Eurolinx

Their level of understanding, detail, and work ethic was great. We had 2 designers, 2 developers, PM and QA specialist. I am extremely satisfied with the end deliverables. Devox Software was always on time during the process.

https://www.eurolinx.com.au/
Trent Allan CTO, Co-founder at Active Place

We get great satisfaction working with them. They help us produce a product we’re happy with as co-founders. The feedback we got from customers was really great, too. Customers get what we do and we feel like we’re really reaching our target market.

https://fx1.io/
Andy Morrey Managing Director at Magma Trading

I’m blown up with the level of professionalism that’s been shown, as well as the welcoming nature and the social aspects.

Devox Software is really on the ball technically.

Vadim Ivanenko COO at Optherium

Great job! We met the deadlines and brought happiness to our customers. Communication was perfect. Quick response. No problems with anything during the project. Their experienced team and perfect communication offer the best mix of quality and rates.

https://optherium.com/
Jason Leffakis Founder, CEO at Function4

The project continues to be a success. As an early-stage company, we're continuously iterating to find product success. Devox has been quick and effective at iterating alongside us. I'm happy with the team, their responsiveness, and their output.

https://www.f4.events/
John Boman Product Manager at Lexplore

We hired the Devox team for a complicated (unusual interaction) UX/UI assignment. The team managed the project well both for initial time estimates and also weekly follow-ups throughout delivery. Overall, efficient work with a nice professional team.

https://www.lexplore.com/
Tamas Pataky Head of Product at Stromcore

Their intuition about the product and their willingness to try new approaches and show them to our team as alternatives to our set course were impressive. The Devox team makes it incredibly easy to work with, and their ability to manage our team and set expectations was outstanding.

https://www.stromcore.com/
Stan Sadokov Product Lead at Multilogin

Devox is a team of exepctional talent and responsible executives. All of the talent we outstaffed from the company were experts in their fields and delivered quality work. They also take full ownership to what they deliver to you. If you work with Devox you will get actual results and you can rest assured that the result will procude value.

https://multilogin.com/
Mark Lamb Technical Director at M3 Network Limited

The work that the team has done on our project has been nothing short of incredible – it has surpassed all expectations I had and really is something I could only have dreamt of finding. Team is hard working, dedicated, personable and passionate.

I have worked with people literally all over the world both in business and as freelancer, and people from Devox Software are 1 in a million.

https://m3networks.co.uk/
1 /

Questions You May Have

What are the features of lending software?

Loan software development includes a lot of features. Below we’ve listed the most popular:

  • Loan application
  • Credit scoring
  • Loan calculator
  • Loan repayment schedule
  • Payment option
  • Loan management 
  • Loan tracking
  • Referral program

What are the features of a loan management system?

Loan management helps users manage their loans, including tracking payments. Loan management software development also allows for updating personal information and requesting changes to loan terms.

What are the 4 steps in the loan application process?

The process can vary, depending on the financial institution’s requirements. However, there are a few similar steps to create a new loan agreement between a lender and a borrower. Loan origination software development helps automate and streamline the loan origination process, customizing it to meet the specific needs of different lenders and borrowers, depending on various factors such as the type of loan, the lending criteria, and the regulatory requirements. 

  • Application Processing
  • Credit Assessment
  • Underwriting
  • Document Preparation
  • Funding

How much does lending software development cost?

Lending software development cost depends on various factors – mostly on the app’s requirements and the development team’s location. Lending software developers need time to create each feature and add each integration. Additionally, you should also consider design and testing.

How long does it take to build lending software?

The lending software development time depends on the features and app complexity. It’s better to share your idea with an experienced development team to get a rough estimate of the time required to build your tax software solution.

Which tech stack can you offer for my lending app?

We follow a single-page application approach and RESTful services. Our key technologies are Angular, React, and Vue.js for front-end development; .NET, Node.js, and Java are used for back-end solutions. But each business is unique and if you need any custom solution, we’d be glad to discuss it with you.

Is the lending software scalable to accommodate business growth?

As a lending app software development company, we gear our production to be scalable from the very beginning. The software is capable of handling an increasing number of loans, users, and transactions without compromising on performance or security. The software architecture employs cloud-based solutions and modern database management systems that ensure high availability and scalability. This means as your customer base grows and your loan portfolio expands, the software can effortlessly scale up to meet the increased demand. We also continuously monitor system performance and conduct regular optimizations to ensure the software not only meets but anticipates your growing business needs.

How does the software handle loan repayment and collection?

The software features an advanced loan repayment and collection module. It automates the calculation of monthly installments, interest accruals, and penalty fees for late payments. The system can be configured to issue automated reminders via email or SMS prior to due dates, enhancing the timeliness of repayments. For collections, the software offers a comprehensive dashboard that displays real-time data on payment statuses, delinquency rates, and collection efforts. It also supports various payment gateways and methods, making it convenient for borrowers to make payments. In addition, the software can integrate with third-party collection agencies, providing them with necessary data while maintaining borrower privacy and compliance standards.

How does lending software ensure compliance with financial regulations?

Our lending software development is conducted in a way to adhere to the stringent standards set by financial regulatory bodies. The software by Devox integrates features that ensure compliance with both local and international regulations, such as GDPR for data protection, the Dodd-Frank Act in the U.S., and other relevant anti-money laundering (AML) and Know Your Customer (KYC) directives. The software is regularly updated to reflect the latest legal changes. We also offer the option to customize compliance features based on the specific requirements of different geographical locations, ensuring that lenders operate within the legal framework of their respective regions.

Do you offer the post-launch maintenance of a lending software?

Do you offer the post-launch maintenance of a lending software?

Yes, we offer comprehensive post-launch maintenance services for our lending software. Our commitment extends beyond the initial deployment, ensuring that your software remains efficient, secure, and up-to-date. Our maintenance package includes:

  • Regular Software Updates: To keep your software current with the latest features, security enhancements, and regulatory compliance updates.
  • Dedicated Technical Support: Our experienced support team is available to assist with any technical queries or issues, ensuring minimal downtime and smooth operations.
  • Performance Monitoring: We continuously monitor your software’s performance to identify and rectify any potential issues, ensuring optimal functionality.
  • Data Backup and Recovery: Regular data backups and a robust disaster recovery strategy are in place to safeguard your critical financial data.
  • User Training and Resources: As the software evolves, we provide updated training and resources to help your team leverage new features and capabilities.
  • Compliance and Security Audits: We conduct regular audits to ensure that your software adheres to the latest financial regulations and maintains high security standards.
  • Scalability Support: Our software is designed to grow with your business, and we provide the necessary support to scale up your operations seamlessly as needed.

Tell us
about your project

Share your project idea and get a free consultation with our development team. We’ll contact your back within 24 hours. It’s free!

Your interest
Thank you for contacting us! You will get answer within the next 24 hours.
Contact us