Western Circle Ltd (WCL) said it has confirmed its release of a new loan management system in response to the new FCA regulations and the growing demand for market integrity and transparency.
The new FCA regulations have redefined the High-Cost Short Term Credit (HCSTC) market. Lenders are required to adopt better business conduct standards and integrate customer´s needs and affordability. This poses a complex technological challenge that most legacy LMS system fail to satisfy.
Packed with innovative and new technologies, the Western Circle LMS is designed to bridge clients´ interest and lenders´ business needs. The system is engineered with modules like dynamic repayment plans, breathing space, early repayments, automatic price cap, automatic interest calculations and proactive compliance supervision.
Western Circle Limited is a technology and data driven lending company. The company develops and integrates technologies to enable affordable loans online under the new FCA regulations. These technologies include underwriting expert systems, online loan intelligence analytics, and proactive compliance management systems.