Challenges Financial institutions face
in Education loan Industry
From the development to the repayment stage, the process of granting education loans is quite difficult from other loan products. While dealing with these education loan products, Retail and Corporate institutions face the following challenges:
Lengthy Repayment Period
As the loans are not repaid till a year after completion of the course, managing them and maintaining the records of repayments becomes a difficult task.
Scalability is a major issue
If the old systems are only used by institutions as with an increasing no. of borrowers, then it may become difficult to manipulate and scale up the solutions might become expensive.
Hard to fetch credit information
Generally it becomes burdensome to fetch the credit information of a specific borrower from a different branch. Thus updating them becomes difficult.
Streamlining is time-consuming
Managing the ever-updating database is difficult to handle. Managing the ever-updating database is difficult to handle.
Our Solutions
At Synofin, in addition to supporting student’s higher education objectives, we also assist in the development of India’s educational institutions. These are the standard education loan offerings:
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Study Loan
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Higher Education Loan
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Study Abroad Loan
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Executive Education Loan
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Education Refinance Loan
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Education Institution Loan
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Infrastructure Loan
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Construction Loan
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Land Loan
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Refinance Loan
Synofin Offerings for Education Loan
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Mobile App for Institute Onboarding
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Mobile App for the assisted customer journey
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Web portal for Lead Management
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Mobile App for Credit Assessment
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Web Portal for Video KYC
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CRM for customer and Internal Servicing
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LMS and Accounting
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Business Rule Engine
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Mobile App for Self Onboarding -Secured Loans
Offering an innovative and customizable software solution for education loan
The comprehensive loan management software solutions provided by SynoFin will successfully and efficiently operate your system. This education loan management system can be managed by SynoFin software that offers way too many capabilities.
Customer Testimonials
