Over the last 3 years, Synoriq LMS has created a solid product offering with customer first approach. Lets understand why Synoriq LMS is 2X better than the next best offering in the market.
1. Better features
In terms of we have been benchmarked against the market leading loan management systems and we are any where close to 20% to 50% better in terms of feature coverage.
For detailed feature list you can checkout https://www.synoriq.com/lms-features
2. Wider product coverage
Synoriq offers a really wide product coverage
Limit based loan products
Buy Now Pay Later
Credit line on UPI
Cash Credit
Overdraft line
Supply Chain Finance
Dropline Overdraft
Earned Wage Access
Loan against security
Wholesale working capital loans
Term loan based products
Vehicle loans
Electric vehicle
Two wheeler
Four wheeler
Commercial Vehicle
Tractor loans (with quarterly / semi-annual repayments)
Used/refinance/new variants
Business loans
Education loans
Home loans
Loan against properties
Short term loans
Gold loans
Personal loans
Equipment financing
Loan product flavours
Co-lending
Subvention
Tranche disbursement
Convert to EMI
Combined limit over TL+Line
3. Quick turn-around for innovative loan products
If you plan to bring innovation in your loan product offering, Synoriq can deliver the same within maximum of 2 months time.
Market is ripe for accepting innovative loan products and we are here to enable the same
4. Evolutionary architecture
Synoriq LMS is fundamentally architected differently to support upgrades. With this you get the advantages of
Improvements shipped every month
In the constantly improving regulatory landscape and market needs, your core lending system also needs to evolve.
With Synoriq LMS you get improvements every month !!
Monthly upgrades are seamless
Yes, our upgrades do not require elaborate testing or migration efforts by customers
Downtime is less than 5 mins
We have built large test-automation packs to ensure nothing breaks with upgrades
Stay ahead with power of compounding
Our LMS evolves at least 3X faster compared to any other LMS providers due to its evolutionary advantage
Our customers tend to stay ahead in terms of functionality and coverage
Future Proofing
Our customers don't just buy the current version of LMS but ensure that they are buying the future of LMS
5. Better integration capabilities
A loan management system is core to an enterprise. It needs to offer integration capabilities with the following
Loan origination systems (LOS)
Collection systems
Data analytics tools like power BI
Service CRM
Customer application
Communication management systems
And many more...
While most LMS offer basic integration connectivity with LOS but fail in enterprise solution connectivity compatibility.
Synoriq offers 50+ APIs to ensure that your enterprise integration needs are fulfilled.
6. Better security
We take up security seriously. Hackers have tried to break our systems through black-box testing but they couldn't break it.
How do we ensure better security
Regular VAPTs
Certifications - ISO27001 and SOC-2 Type 2
2 Factor Authentication
Password protected reports
PII encryption at rest
Strong role based access management
And much more
7. Unlimited scalability
With its micro-services based cloud native designs, Synoriq LMS can support unlimited scalability.
No matter whats your scale, we will ensure smooth operations for you.
8. Better compliances
We proactively work on regulatory notifications. We have built in modules, checks and balances to ensure high level of compliances.
We ensure customer is charged as per IRAC norms. We proactively guide our customers if there is any deviations to the same.
9. Accurate numbers all the time
Synoriq LMS is designed for high accuracy.
You can rely on the accrued interest, billing, charges, rescheduling and generated vouchers.
10. Better migration capabilities
We offer transaction level migration capabilities which is one of its kind.
Our migration tools improve the migration speeds.
On an average migrations take approx 3 months time.
11. Lower TCO (Total Cost of Ownership)
With Synoriq LMS, you get an all inclusive pricing that lowers your total TCO
Save on DB and Third party licensing - you don't need to pay separate licensing for Oracle or Microsoft databases
Save on bulky infra costs - Synoriq has optimised itself on infrastructure requirements
Save on change requests costs - You need much lesser change requests with ever improving Synoriq's LMS
50% lower TCOs considering direct costs and even lower if indirect costs are also included
12. Better support
We have setup elaborate L2 and L3 support processes to achieve time-bound SLAs (Service Layer Agreement)
Conclusion
Synoriq LMS today by far outshines the competition and is poised to take a leading position from the current challenger position.