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Who are we?

Where it began

Vector FinSoft is a Fintech software company that specialises in an end-to-end loan management platform called LAMS. Based in the UK, it owes its origin to the parent company, Vector Capital, an established finance lender that attributes its success to software that was developed in-house. Inspired by the radical change in their business from using their own loan management platform, Vector FinSoft was created to offer businesses the same winning platform in a commercial package.

Understanding lenders

Vector FinSoft developed LAMS with the understanding that small to medium size lending businesses are required to be more efficient than ever before, with a critical focus on improving workflows, account transparency and cash flow status. Their ability to effectively manage financial processes, communicate with stakeholders and mitigate errors is crucial. Lending businesses migrating from paper and spreadsheet workflows to newer fintech software is prevalent in the fast paced industry and for many, choosing the right software can be the factor of succeeding or closing their doors.

The Solution

FoxHub core module is a powerful loan application management software that is cloud based and processes transactions in real-time. In addition CRM, Portal and Accounts modules help scale up and support business growth.

Loan management workflow

  • Provides comprehensive management of a loan application from initial submission to redemption
  • Quickly generate or modify products to offer brokers/borrowers
  • Second charge lending can be setup and offered quickly
  • Full line of sight to all accounts transactions, reducing premature taxation payments
  • Missed payments are tracked and lender alerted to allow fast remedial action
  • Reduced application hold up with progress auto-prompts and prompted approval stages
  • Pre-built and customised email templates can be used within the softwares own mail merge
  • All communication is logged and files can be uploaded for case archives

Financial management workflow

  • Bespoke full reporting saves hours in reconciling
  • All stakeholders (broker, clients, investors solicitors, against and networks) can be logged in to the system with line of sight to progress of each loan, including general updates, communication history and tasks completed.
  • Accounts module provides the ability to defer postings
  • Error correction is built in on related accounting entries, increase efficiency

Reporting

  • Advanced reporting tool for custom reports (remote multi level access included)
  • Generate full auditing reports with ease

Licencing

  • One-time low cost install and setup

Fintech software market

With so many developers in software, VectorFinSoft holds a unique position of being born from its success in the parent finance company. During the finance company’s journey of growing their Loan Book, it was recognised the need for a platform that provided value and innovation in loan management.
In contrast to competitors, LAMS has been created from real-world use and therefore a smart fit for businesses looking to software that will drive their business forward. They understand the market and business needs, because that is where they come from.

Technology

Businesses who are new to cloud technology will be comforted to know that having real-time access to multiple users provides accurate synchronous workflows. Users can work remotely from the office and other external stakeholders can connect with custom privileges.

While from the front end, users will be pleased to see an intuitive dashboard that can be customised to reveal information they require. Further, the interface colours can be customised to make the look your own, with the option to white label.

Support is also available with plenty of training videos to assist navigate through the software and understand the tools available.

When it comes to security, LAMS was developed within the Microsoft dotNET environment using tough Azure server infrastructure. VectorFinSoft employs servers in the UK which come with high failover safeguards and a 99.99% SLA rating to ensure data is always available and protected.

What’s more, LAMS is constantly updated from the cloud service side, with scheduled software updates to improve user experience and any security vulnerabilities.

When it comes time for a business to grow, LAMS can accommodate with expansion of modules and API assistance for other third party accounting software, including Sage, Xero and Quickbooks.