Software’s that are used by the company
- Name of the Software: FINFLUX
- Logo of the Software: Image of logo is attached herewith.
- Brief introduction of software and benefits of it:
In sync with the ‘Digital India’ initiative, Conflux Technologies is enabling the usage of cashless economy. Its flagship product FINFLUX works seamlessly to help the customers to automate loan origination in a completely paperless fashion.
DCL has a long-standing partnership with Bangalore-based Technology Company “Conflux Technologies” for providing technology and infrastructure for the efficient management of DCL’s portfolio.
DCL uses “FINFLUX”, a Core Banking system on a Saas model that provides high scalability and security. Our data is hosted in a secure Amazon Web Services VPN environment featuring restricted access controls with all sensitive data being encrypted before storage.
FINFLUX features intuitive workflows for data entry, robust process controls and integrations with credit bureaus like Highmark which enables Digamber to accurately model and track their operational processes within the system. FINFLUX dashboards and reports provide both operational and management insight into group/client on-boarding and disbursements and collections.
The FINFLUX Android App is being piloted at branches so that field officers are enabled with the latest technology and field-level collections and data capture is reflected at HO and branches in real time.
FINFLUX ships with the facility to avoid paper-based records at each of these processes and sub-processes. These include:
- Aadhaar enabled e-KYC
- Online Credit Checks with CIBIL, Equifax and Highmark etc
- Electronic KYC document management
- Electronic loan document vault for sharing documents between branches or agencies
- Workflow based loan origination to route loan application through different roles and teams and locations
- Rule based risk assessment, customer profiling and eligibility checks
- Cashless disbursements and repayments – with optional maker-checker facility
- SMS confirmation for sanctions and disbursements and Instant SMS receipts for repayments.
DCL plans to leverage the newer FINFLUX features this financial year to attain better operational efficiencies. These features include:
- Aadhaar-based on-boarding of customers for improved accuracy of data
- Aadhaar-based authentication for security
- Workflow-based Loan Origination to improve automated routing of loan applications
- SMS integration for disbursals and repayments for confirmation to clients and added security
- Rule based risk evaluation to reduce manual steps and aid decision making
- Other Credit Bureau integrations including Equifax and CIBIL
- Cashless disbursements via seamless interface with Banks and NPCI
- Cashless collections via ACH to reduce handling of cash
- Advanced accounting module featuring recurring journals, budgeting, asset management and depreciation