How we created a startup SaaS Credit

    From order to start-up

    Hello, dear readers. Today I want to tell you how my team and I created a service for MFIs. First I want to introduce myself - my name is Bulat, I live and work in the city of Astrakhan. Recently I received a Startup subscription from Megamind - for this a huge thank you to the resource. I am the owner and director of DosLab . We are engaged in software development and IT services for business. From time to time, our team creates IT startups, investing earned money in them, and also attracting interested investors.

    The main development strategy of our company is the development of custom software, but if the project has real potential for other companies, we work at cost and, by agreement with the customer, reserve the exclusive rights to the developed product. Thus, we get: an objective assessment of customer needs, a demonstration platform and a strategy for further sales based on customer values, and the customer, in turn, is a working solution for his business. I try not to live one day, because why overstate and earn once a million, if you can make a billion in partnership with a customer. One of these products, the most technically advanced, in my opinion, was the SaaS Credit service . I would like to tell how it was created.

    From order to startup


    The origin of the idea - science and business.

    In 2014, I defended my dissertation, the theme of which was devoted to the creation of microcredit technology based on an electronic document management system. In order not to be unnecessarily distracted from research, I combined my existing order for cloud automation of MFIs with scientific work. This provided a significant plus in defending the dissertation, as I already had practically confirmed indicators and evidence of my theory. As part of the dissertation, an electronic document management system for a microfinance organization in Astrakhan was developed and introduced, taking into account the territorial distribution of the organization. This system is now successfully used by this MFI.

    Through research, I learned a lot about the microcredit business. The main discovery was that, despite the huge number of MFIs operating in Russia today, there are practically no specialized integratedIT solutions focused specifically on microcredit. Therefore, today MFIs are forced to try to adapt 1C and other software systems for themselves. At the same time, manufacturers of such software solutions often do not take into account the specifics of business processes and the operation algorithms of each MFI; the products obtained are not entirely flexible. Unnecessary functionality is often imposed on the client and, as a consequence, the complexity of the user functionality is complicated, such systems are deployed from 1 to 3 months, taking into account the ready-made database. The negative effect is still reflected in the fact that now software development is most often engineering work according to the template, it practically lacks a scientific approach, a new methodology that takes into account the interests of business. For science, this is also not very good; it remains more theoretical without practical tests.

    Realizing this, I realized that, using my knowledge and professional skills, my guys and I will be able to create a truly relevant specialized solution that will be truly in demand on the market.

    Creating a service

    Of course, I did not develop the service alone. The entire team of talented DosLab specialists joined the work. As a basis, we took my achievements on the dissertation. However, in the future, the project was developed and more and more modified. We sought to create a cloud solution that would not only allow us to automate the work of existing MFIs, but would actually allow us to create a ready-made existing business - this is the main concept of the solution in the broad sense of the word.

    As a result of our work, the SaaS Credit service was created, in which it is already difficult to recognize the electronic document management system, which served as the starting point for its development. Rather, the service is already an IT ecosystem for MFIs. The development approach itself has been fundamentally changed, now the architecture of the system itself is fully object-oriented, which allows you to get a huge scalability potential. Now we are testing the Marketplace subsystem, which will help attract free developers to create separate modules and share earnings with us. Thus, the software package will become even more powerful with minimal cost and minimal burden on our company. Of course, all modules will undergo a thorough moderation by our experts.

    SaaS Credit is a comprehensive solution for automating microfinance organizations running on a cloud server. The product is implemented on the basis of cross-platform technologies. Thanks to this, our service can be used by almost any MFI, regardless of its IT infrastructure and the operating systems used. We also provided for the possibility of using the service for any principle of microcredit organization. This can be either the issuance of cash loans by cash orders, or online lending credited to bank cards.
    We built our service on a modular basis. Now there are more than 15 modules in it, which allows you to choose the optimal configuration for any MFI and easily integrate with any third-party products, including scoring systems, BKI, 1C, client banks, etc. The modular structure also makes it possible to choose the optimal tariff plan. The complex provides automation of the work of all specialists, including the cashier, operator, underwriter, collector. Built-in scoring system, effectively eliminates potentially problematic borrowers.

    The introduction of SaaS Credit provides ample opportunities for a global financial institution. This is a significant savings, because effective integrated business automation is provided without expensive equipment, IT infrastructure and without an IT department.

    The main achievement can be considered that SaaS Credit is a turnkey solution for creating a real-time microcredit business. At the same time, the service not only allows you to automate the business, but also helps at the start. The integrated lead generation system automatically directs the flow of “hot” customers to the business. A powerful scoring system, integrated with major credit bureaus, ensures effective screening of unreliable borrowers. This significantly reduces credit risks, which is especially valuable at the initial stage. In addition, rejected applications can be sold on the lead exchange, providing additional income.

    Our service can significantly improve the results of the work of the existing microfinance organization and ensure the success of the newly created MFIs. At the same time, I believe that the process of creating SaaS Credit has not yet been completed. We regularly update our service, not only offering new features and adding new modules, but also introducing new algorithms and methodologies. Work on improving the service is being carried out, including taking into account the wishes of existing customers, as well as in parallel with the work of scientific research. Now the main part of the work is aimed specifically at assessing risks and preventing losses in the aggregate of not only automation, but also the competence and productivity of employees. We study various standards and scientific papers in the field of risk models and create new ones that will also be published in scientific journals. In terms of technology, we are now working with partners in Big Data. This will allow in advance to reduce the risks of losses and defaults, and as a result, thoughtlessly obtaining loans by our citizens. Therefore, we are confident that over time, our product will become even better and bring even more profit to our customers.

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