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finpower connect lending software

finPOWER Connect - Loan Finance Software Dealer by Intersoft

Loan Finance Companies require more features and functionality from a loan finance software package than ever before 

Intersoft Systems Ltd in Napier is a software development company that has been operating since 1981. They have developed a wide range of accounting and specialist vertical market products, in particular the finPOWER lending software system a product specifically designed for Finance Companies.

Intersoft's first loan finance software system was developed in 1982 and has since been through a number of transformations. Each transformation has been an improvement on the previous version, with new features and functionality being added.

The finPOWER Series of loan software for Finance Companies, has been developed using the latest in technologies and greatly expands on the functionality of previous versions. Intersoft Systems has recognised the need for a comprehensive series of systems in the market that are reliable, easy to use and relevant to the loan finance industry.

The finPOWER Connect Loan Finance software Series comprises of a base system and key functional areas that offer a wide number of different Loan and Deposit types. These may be enhanced by a number of optional add-ons that need only be purchased if required. This allows for changing requirements and system growth that can match that of your loan finance company. Additionally, Amtrax can extensively customise the system to meet your precise requirements.

Schedule a finPOWER loan finance software demo
Download the finPOWER loan finance software guides
To purchase finPOWER email Amtrax or telephone 64 9 263 4500


Key functional areas of finPOWER: 

Easy to Use Windows Interface

finPOWER maximises the use of the Windows(tm) Graphical User Interface (GUI) to create a friendly environment that is easy to navigate and learn.

Client File

The Client file includes information regarding contact details, past addresses, notes with action dates, a photo of the client and Loans and Deposits the client is associated with, either as the main lendee / lender, a joint name or as a guarantor.

Microsoft Office Integration

finPOWER is closely integrated to MS Office 2012, giving access to the functionality of Word, Excel and Access. Formatting features of Word can be fully incorporated, along with high-level VBA tools to enhance your documentation.

Loans

finPOWER loan finance software can calculate the following Loan finance types:

  • Hire Purchase
  • Deferred First Payment
  • Interest Free Period
  • Flat Interest Rate
  • Interest Only Loans
  • Residual / Balloon Payments
  • Three Tier Interest Rate breaks
  • Uneven Cashflows via the Instalment Schedule.

More information on loans

Depositors

Depositors tracks funds that have been deposited with the company. It handles funds that have been deposited for either a fixed term or "On Call", and at a fixed rate of interest or interest calculated on the daily balance. It can also handle a variety of automatic maturity options.

More information on Depositors

Credit Control

finPOWER can produce Overdue Letters for early detection and actioning of arrears. Letters ranging from mild reminders through to pre-possession and repossession authorities can be generated. Agreement Forms, New Loan and Thank you letters can also be created. Additionally, Penalty Interest can be calculated on Overdue Loans, including "processing fees".

Payment Schedule

Each Loan has its own Payment Schedule allowing adjustments to be made to the payment stream where a client's financial situation changes. This enables you to record payment arrangements, and from then onwards all overdue balances are based on these adjustments.

Bank Interfaces

finPOWER Connect loan finance software provides an interface facility to all major NZ Trading Banks. The interface can be used for Direct Credits (i.e. paying out deposit Interest and maturing deposits), Direct Debits and importing Bank Statement information for easy payment processing.

Transaction Wizards

finPOWER uses Transaction Wizards to guide Users through many of the advanced transactions making transaction entry in this loan finance software easy and simple.

PPSR Interface

The PPSR (Personal Property Security Register) will be the national place to register all your security interests. It will also be the central point to conduct searches on serial numbered items such as Motor Vehicles, Boats and Aircraft to see if there are any existing security interests in them. To register or conduct a search you will need to go onto the PPSR website and manually type in all the details you need, review the results, print out any necessary reports, re-enter all the information into your loan management software ..... all very labour intensive and prone to human error. This is where the PPSR B2G interface earns it's money.

The PPSR B2G is an interface that allows your systems to "talk" electronically to the PPSR if your system is so equipped. The PPSR B2G allows all your transactions to be centrally generated and processed on your system then updated to the PPSR. For example, a new Registration for a security interest in a Motor Vehicle can be entered in your system and the B2G Interface will register the security interest on the PPSR and update your data with the relevant registration details - all without human interference.

The PPSR B2G interface offers three key benefits: Speed, Accuracy and Timeliness.

To enter a new Registration or undertake a search manually on the PPSR can be a long drawn out process, especially where the information already exists in one system and needs to be manually rekeyed, whereas the PPSR B2G happens at the click of a button and is all conducted electronically.

If you are entering a motor vehicle registration into the PPSR website then you will have to key in, at the very least, the VIN number. This is a 17 character number that needs to be entered correctly or the Registration will be invalid. Then you will need to record a 16 digit Registration number and a 5 digit change number! All areas where human error can creep in whereas the B2G interface handles all these transactions with 100% accuracy.

One of the key pillars of the new Securities regime is Priority - which is the order in which Secured Parties have claim over collateral items. Priority is determined by the actual time, down to the second, of which a collateral item is registered on the PPSR and it is first registered, first in line. Compare the time a B2G transaction takes mere seconds to the minutes or even hours it will take a staff member to do the same thing once they have finished their coffee or come back from their break!

Within finPOWER Connect, the new Loan management software system from Intersoft Systems, the PPSR add-on incorporates all the functionality of a B2G interface. Functionality is included that electronically registers your Security Interests at the push of a button and receives the Collateral Registration information back from the PPSR and updates your data, all without needing to re key any information. Subsequent Amendments and Discharges are also performed through the PPSR B2G Interface, as are PPSR Searches for existing Registrations on Collateral items or Grantors.

To purchase: email Amtrax or telephone 64 9 263 4500

finPOWER Connect customisation

Amtrax specialises in creating web based modules that interface with finPOWER. As an example of our work, here is a link to an online loan application . This example will do the Centrix credit check, drivers licence ID check, Passport check, and also automate the 3 months bank statement retrieval process. We can include scoring if required and any other required features.(eg PPSR search)

For client online loan application Click here

Additionally, many finance companies require external parties, eg Dealers, to have the ability to create both clients and the loan application, but within strict limitations of what they can and cannot do. The example dealer module below allows them to see all clients, but only their own loans. Contracts are created as a pdf document. Currently we are enhancing this module to provide a turnkey process flow management system to enable all the required steps prior to approval to be recorded and monitored by the dealers themselves, thus reducing the administrative time of the back office staff.

For Client Enquiry Console Click here

This module will allow clients to login and check their balances and transactions. Additionally, they can apply for another loan, or a top up based on their pre-set credit limit. This will save you a considerable amount of administrative time.

User Name = C10012
Password = Amtrax12

For Management Console Click here

Often it’s more convenient for Managers and/or Dealers to access their clients and loans via the web, rather than accessing finPOWER directly.
With this module, your specific requirements that might be unique to you can easily be incorporated.

User Name = KEY-JK
Password = password

For Online Calculator Click here

This interfaces directly to your finPOWER Connect account type configuration, so every change you make there will automatically be reflected in the online calculator.