For finance companies
Loans, deposits and the general ledger in one record.
For licensed finance companies, Fused checks collateral at approval and disbursement, keeps each deposit on the rate it was signed at, and closes the month from the same postings every branch made.
Book a demo| Account | Debit | Credit |
|---|---|---|
| 1110Cash in hand | 4,982,500.00 | |
| 1210Loan portfolio | 118,406,250.00 | |
| 2110Savings deposits | 36,705,937.50 | |
| 4110Interest income | 16,813,687.50 | |
| Seven other accounts | 23,410,000.00 | 93,279,125.00 |
| Totals | 146,798,750.00 | 146,798,750.00 |
Balanced. Debits equal credits.
The days you will recognise
- Collateral in a separate file
- Valuations sit in one spreadsheet and loans in another, so nobody can say how well a loan is covered at the moment it is approved.
- Receipt books with holes
- Each branch keeps its own receipt books, and every cancelled receipt leaves a gap an auditor has to be walked through.
- A month end built from exports
- The trial balance is assembled from several systems, and every correction is an edit someone has to explain.
- Rate changes that reach signed contracts
- A new rate changes figures on contracts already signed, because the product was one record that was overwritten.
How Fused handles it
Collateral with cover ratios
Vehicles, gold, property and more, with dated valuations and a haircut. Approval and disbursement refuse below the product's minimum cover ratio unless an override carries a reason and a permission.
LendingLeasing, hire purchase, pawning, factoring
Leasing, hire purchase, pawning and factoring each book as their own loan category, with their own ledger accounts and their own cycle count, and gold and vehicles are collateral types with valuations and haircuts.
LendingFixed and recurring deposits
A term with a maturity date and an instruction for it, a rollover that keeps the account number, and an early-break quote repriced at the tier the deposit actually reached.
Savings and depositsTellers at every branch
Receipts and vouchers from each branch's own gap-free yearly series, and tills counted by denomination, with only the difference posted at close.
Branch counterBank reconciliation
MT940 or CSV statements matched against the ledger, completing only when the difference is zero.
Branch counterMonth-end and year-end close
A closing checklist, period close through the approval flow, trial balance and statements derived from postings, and year-end carry-forward to retained earnings.
AccountingReporting for the board
Portfolio at risk, repayments due and officer performance built in, plus your own reports as CSV, XLSX or PDF, on a daily, weekly or monthly schedule.
ReportingQuestions institutions ask
Can it handle leasing, hire purchase and pawning?
Leasing, hire purchase, pawning and factoring each book as their own loan category, with their own ledger accounts and their own cycle count. Gold and vehicles are collateral types with valuations and haircuts.
Where is our data?
Hosted on AWS, in your institution's own database.
Can we bring our existing data?
Clients load from a CSV file with a dry run, and opening balances post on the day you go live. Moving an existing loan book is planned with you during scoping.
See it on your own products and numbers.
A walkthrough with the team that builds Fused: your loan products, your branches, your month-end.