Hire Purchase

Simplifying Hire Purchase & Consumer Durable Loans with Automation

miFIN™ Hire Purchase & Consumer Durable Loan Platform is a comprehensive digital lending solution designed to streamline, automate, and enhance hire purchase financing. The platform enables financial institutions to efficiently manage loan origination, asset tracking, cost control, and reporting, all within a unified system.

With seamless integrations, real-time data synchronization, and automated loan processing, miFIN™ simplifies the complexities of hire purchase financing, ensuring a hassle-free experience for lenders, dealers, and customers alike.

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Key Features​

Comprehensive Asset Management

Configure asset masters to upload and manage manufacturer details, including makes, models, and product codes, ensuring efficient asset tracking.

Integrated Insurance Management

Seamlessly manage asset insurance policies, enabling automated premium amortization over the loan period for better financial planning.

Real-Time Item Tracking & Payment Monitoring

Synchronize data across dealers and service centers, allowing instant identification of unpaid assets, improving compliance and reducing financial risk.

Why Qualtech

Empowering Financial Institutions with
Smarter Hire Purchase Lending

Enhanced Efficiency in Loan Origination & Management

Automates loan processing, speeds up approvals, and optimizes repayment scheduling to improve operational efficiency.

Automated Payment Tracking & Notifications

Supports repayment scheduling, SMS reminders, and loan performance tracking, ensuring timely payments and reducing defaults.

Seamless Cross-Company Data Integration

Enables real-time data synchronization across financial institutions, dealers, and service providers, ensuring accurate records and smooth operations.

Seamless Integration with Existing Systems

Works effortlessly with your current banking and financial solutions, minimizing disruptions and enhancing scalability.

User-Friendly Back-Office Interface

Offers an intuitive and easy-to-navigate platform, simplifying operations for financial teams.

Regulatory Compliance

Ensures full adherence to NRB’s hire purchase procedures, helping lenders stay compliant and risk-free.

With miFIN™ Hire Purchase, financial institutions can enhance operational efficiency, automate processes, and provide a seamless customer experience while ensuring full compliance and risk mitigation.