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Need to restructure a loan without disrupting it? With the 𝗤𝗨𝗔𝗟𝗖𝗢 𝗟𝗼𝗮𝗻 𝗠𝗮𝗻𝗮𝗴𝗲𝗿 𝗠𝗼𝗱𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗲𝗮𝘁𝘂𝗿𝗲, you can automatically update balances, repayment plans, and interest terms, all in one centralised platform. And the most important part? ⚠️ Every change is fully traceable, with a complete modification history that gives you full visibility and control.
Watch how it works 👇
#QUALCO#QLM#LoanManagementSoftware#Credit#Lending
At Qualco, we know loan restructuring is complex. Aligning data across accounts, updating balances, revising repayment plans and interest rates. The modifications feature of QLM brings everything together seamlessly and aligned with your needs. The modification structure links the modification umbrella, the related accounts, and applied events, each shaping balances, and the final repayment plan. In QLM, a modification is the central container for all data used in processing and reporting. It is uniquely identified and includes the approved amount, portfolio, solution, and approval information. Two critical elements are the category, defining the purpose of the modification, and account handling, determining source and target accounts use. Accounts fall into two types: source, the existing loans to be modified; and target, created as a result of the modification. The source accounts can be either QLM accounts or external. There are four options. Single account: one source remains open with no target. Old to new account: one source is closed and one target is opened. Debt consolidation: multiple sources are closed, replaced by a single new target. Multiple accounts: several source and target accounts are involved, with source either remaining open or closing. During the modification process, events are applied to the related accounts to adjust balances and reshape repayment plans, executed in limbo without impacting the live system until the modification is implemented. Available modification events include down payment, charge billing, overdues capitalization, debt forgiveness, warehouse setup, adjustments, term change, approved amount change, transfer settle, transfer open, payoff, plan modification or initialization, payment codes transfer, and more. The list is fully expandable based on customer needs. Users can search using filters related to modifications, accounts, or parties. The panel shows key details like category, account handling, effective date, the related source, and target accounts. The modification page displays basics, application info, and key characteristics. Selecting an account reveals initial balances, applied events, and the resulting balances, all separate from the live system. In lending, clarity, transparency, and integration are essential. With QLM, every modification is connected, traceable, and built for smarter decisions today and tomorrow.
