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Credit Technology: 5 Essentials for Lenders

Principa’s FinSmart has become the industry’s go-to solution set for end-to-end credit management.

Our credit risk management software products reduce risk and improve profitability by streamlining processes, increasing efficiency, and automating data-driven decision making across the credit lifecycle.

In this blog we take a look at five key products within our credit risk management suite and discuss how each product set works in unison to improve the efficiency and effectiveness of your credit approval, account management and collections process.

FinSmart comprises the following:

  1. AppSmart – Loans origination system
  2. Financier – Account processing platform
  3. CollectSmart– Collection management system
  4. DecisionSmart – Business rules management system
  5. BridgeSmart – Data orchestration layer

Each module allows users to manage credit matters from cradle to grave and can be deployed alone or in conjunction with the other FinSmart modules.

A brief description of each module is given below:

AppSmart – Loans origination system

AppSmart allows for the onboarding of new customers through multiple channels. The system handles the capturing of applications, the creation and management of documents, the management of communication, the calling of data and decision services, the management of products and sub-products, and the management of campaigns. AppSmart features a fully-configurable workflow, case management, queueing, and audit trails. This is all done through a modern web-based front-end.

Take a peek here inside the latest version (4) of AppSmart.

Financier – Account processing platform

Financier is a system of record and an account processing platform. One of its primary features is managing balances and the calculation of fees and interest. It also manages products and ancillary products associated with an account.

Financier is very versatile having been deployed at a host of international blue-chip retailers, banks, unsecured lenders, specialist lenders, and small to medium enterprise lenders.

To find out why Financier should be a priority for your business, read this.

CollectSmart – Collections management system

CollectSmart is a versatile collections management system. It allows for customer segmentation with the application of appropriate differentiated actions to individual customer profiles. The web-based interface is intuitive and thus easy to learn. The management portal empowers managers to configure strategy, manage collector actions, and control queues and teams. CollectSmart has been deployed at a host of clients including banks, retailers, educational institutions, unsecured lenders, vehicle finance organisations, and medical aids amongst others.

To find out more about CollectSmart click here.

DecisionSmart – Business rules management system

DecisionSmart is Principa’s proprietary business rule management system and decision engine that assists organisations in making decisions across the customer lifecycle. As such it seamlessly integrates into loans origination systems like AppSmart, account processing platforms like Financier, and collection management systems like CollectSmart.

DecisionSmart incorporates a plethora of features including modules for scoring, policy rules, decision trees, tables, matrices, and complex calculations. It enables users to seamlessly import and export strategy metaphors and their relevant components. Reports can be drawn including the ability to print out a copy of your full credit policy. Full audit trails are in place and users can automatically build testing files to test strategies.

DecisionSmart is a tried and tested decision engine and is trusted by organisations in twenty countries. It is in its fourth generation and the system is accessed via web screens.

For a full rundown of DecisionSmart click here.

BridgeSmart – data orchestration layer

BridgeSmart is Principa’s data hub and data orchestration layer. This is the module with which we build all our SOAP or Rest APIs. The product allows for both synchronous and asynchronous data calls. Several APIs are available including credit bureaux. The module can be integrated into AppSmart, Financier, and CollectSmart to facilitate integration between those systems with internal and external systems.

More detail about BridgeSmart can be found here.

If you want to find out more about how Principa’s FinSmart Universe can help your organisation, please get in touch with us here


Head of Credit and Analytics

Thomas has 18 years of experience in data science focusing in the EMEA region. His experience traverses multiple industries and disciplines covering analytics, consulting and software solutions for companies ranging from large banks and retailers to telcos and manufacturing operations. A large part of his experience comes from working with credit providers helping them harness the predictive power of data through the use of machine learning and decision tech. Thomas holds an MA in Mathematics from Edinburgh University.

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