Loan management module
Episcript builds loan servicing into your loan management system: repayment schedules, payment allocation, PayNow and GIRO collections, arrears and restructures, with AI that drafts reminders and flags loans slipping into arrears.
For licensed moneylenders, financing companies, credit cooperatives and microfinance lenders in Singapore.
Features
Each loan's repayment schedule is built at disbursement from the loan principal, interest rate, tenure and frequency, with weekly, fortnightly or monthly instalments.
Interest is calculated by the method each loan product uses, flat rate or reducing balance, and every instalment is split into principal and interest.
Late fees, administrative fees and other charges post to the loan account under each product's terms, and each one shows as its own line on the statement.
Borrowers pay by PayNow, GIRO or at your counter, and each payment is matched to its loan account by reference before it is allocated.
A receipt is issued for every payment, and statements show the balance, payments, fees and arrears for any period, sent by email or WhatsApp.
Outstanding principal, interest earned, collections and arrears by product, branch or loan officer for any date range, from the loan accounts staff work in.
Repayments
Every payment is applied in the order you set for the loan product, such as fees first, then interest, then loan principal. The repayment schedule updates as each payment lands, showing what is paid, what is due and what is overdue.
Arrears
Overdue loans are grouped into ageing buckets you define, such as 1 to 30 and 31 to 60 days past due, with the amount owed in each.
Reminders go out before each due date and again after a missed payment, at intervals you set, carrying the PayNow details for that loan.
A loan moves into default by your own rule, such as a set number of missed instalments, and is flagged to the collections team and management.
Calls, messages and promises to pay are logged on the loan, with a follow-up date that returns the account to the collector's list.
Capability
Built in its own phase using information from your loan records, with staff approving every message.
AI flags loans whose payments arrive later or smaller than scheduled, so a collector can call before an instalment is missed.
AI drafts reminder and follow-up messages suited to each stage of arrears, for staff to check before they go out by WhatsApp or email.
AI reads a bank transfer slip or PayNow screenshot sent in by a borrower and matches it to the right loan for staff to confirm.
Ask which loans more than 30 days in arrears have no promise to pay, and AI answers from your own records.
Restructures
A restructure or reschedule replaces the remaining schedule with a new one on the same loan account, keeping the original schedule and every payment in its history. The revised agreement can go out for electronic signature before the new terms take effect.
How it fits
This loan repayment management system is a module of Episcript's Loan Management System. An approved application from the loan origination module becomes an active loan with its schedule already built, and every collection flows through to your accounts.
Questions
Loan companies use a loan management system with a repayment module that builds schedules, allocates payments and tracks arrears. Ours is built around your own loan products, fees and collection rules, and connected to your accounts.
A spreadsheet works for a handful of loans, but allocation rules, arrears ageing, reminders and receipts need a shared system. Your existing loan book, with balances and payment history, is imported when the system goes live.
Each payment is applied in the order set for the loan product, such as fees, then interest, then principal. A partial payment clears the earliest amounts first, and the shortfall stays in arrears on that instalment.
An early repayment is settled against a figure quoted to the payment date, with interest to that day. A restructure builds a new schedule on the same loan account, approved by a named role and kept in its history.
Reminders go out by WhatsApp, SMS or email before each due date and after a missed payment, at intervals you set. Each message carries the amount due and the PayNow details for that loan.
Management sees outstanding principal, interest earned, collections, arrears ageing, defaults and write-offs by product, branch or loan officer for any period. Each total links to the individual loans behind it.
AI features can be added in their own phase: early warning on loans slipping into arrears, drafted reminders, payment slips read and matched, and a WhatsApp agent answering balance questions, all checked by staff.
Our solutions are eligible for government grants. We explain how the schemes apply to your project and what the agency looks for, so you can budget with the full picture in front of you.
Related builds
The full system for lenders: applications, approvals, loan accounts, repayments, collections and portfolio reporting.
Read more Invoicing SoftwareInvoices, receipts and payment reminders with PayNow and GIRO, plus InvoiceNow (Peppol) e-invoicing.
Read more Custom CRM SoftwareEnquiries, follow-ups and the full contact history for every customer, connected to your loan records.
Read moreNext step
Bring two of your loan products to a demo and we will show you their schedules, payment allocation and arrears set up the same way, with reminders drafted by AI.