The InGain loan management system (LMS) enabled Simpleros to launch a new consumer loans product in Spain in 2020, and the level of automation provided by the solution has allowed the company to scale without taking on additional employees. The Simpleros fintech service offers consumers many advantages when compared to traditional lending options, including speed and convenience. LMS technology provided by InGain has helped the local Spanish company transition to a global outlook.
“Our goal was to scale our company without taking on and training a massive amount of additional employees. We customised the InGain system to help us reach a level of automation where we could achieve this goal,” says Simpleros Founder Santa Lemsa.
Simpleros required full-system automation, scoring and access to a payment gateway. The InGain LMS was able to speed up the lending process by streamlining customer onboarding, loan issuing and the debt collection processes, additionally eliminating human error and the surplus labour that would be required to keep the processes quick, precise, and convenient. Automatisation of decision making, risk-based offers, loan approval and agreement signing allows Simpleros to operate with an 18.6% approval rate for its over 82,000 registered users.
The level of scaling enabled by automation has allowed the company to set its sights on expanding business globally, with a special focus on the Asian market. Using an LMS solution, Simpleros can easily adapt the existing processes to the needs and legislation of new markets. A convenient market testing solution means less money spent and less time and resources invested in understanding new markets.
“What makes a consumer lending company stand out in a crowded market is process execution. We pride ourselves in providing an LMS that can adapt to the specific nuances in the processes for each individual business. Simpleros has made the most of this LMS customisation, and it shows in their steadily growing business,” says InGain CEO Armands Liseks.
According to a global report by the Cambridge Centre for Alternative Finance, Spain was in the top 30 countries in the world in terms of alternative finance volumes per capita in 2020. In almost two years of operations, Simpleros has issued over 12,135 loans totaling more than 1,100,000 euros. The 90% user return rate serves as confirmation of customer satisfaction with the lending product.
For over 10 years InGain has been supporting lenders, fintechs and banks with an out-of-the box, yet fully customisable loan management system. On top of the core system, the company also delivers system integration services and custom feature development. InGain has executed hundreds of projects with more than 50 global clients across a variety of sectors.
The loan management system caters to both secured and unsecured business and retail loans, including instalment loans, auto leasing, mortgages, line of credit, buy-now-pay-later, payday loans, invoice factoring and more.
Simpleros is an international company with a local focus offering easy-to-use, automated financial services. The company requires only a few minutes to analyse a loan applicant’s data, make the decision on whether to grant the loan and issue the requested amount. Simpleros provides alternative financing for any unexpected contingencies or larger planned expenses.