Empower Your Workforce with Seamless Benefits & Loan Platform
Finedge is dedicated to providing cutting-edge solutions that empower businesses to seamlessly manage employee benefits and loans, optimizing operations and enhancing workforce efficiency.
Core Modules
Works seamlessly together to streamline workforce management
Explore our best features
Discover the full potential of FInedge’s features, designed to simplify benefits and loan management
Benefits: Annual Enrollment
- Data Integration with Core HR: Relevant employee information is automatically captured from Core HR, ensuring accurate benefit selections.
- Prior Year Benefit Display: Employees can view previous year’s selections, making it easy to retain or adjust as desired.
- Flexible Selection Options: Employees can either keep their current benefits or make necessary adjustments based on individual needs.
- Group Term Life Insurance (GTLI): Management of GTLI options allows employees to update or modify life insurance plans easily.
Flexible Benefits Management
- Health Maintenance Organization (HMO) Management: Employees can display, update, and track HMO benefits with visibility into current coverage for dependents.
- Dependents’ Benefits Visibility: Provides employees with a clear view of benefits available to their dependents, improving transparency and planning.
- Personalized Selections and Amendments: Employees can make real-time adjustments to their health, life, and dependent care benefits directly through the platform.
Loan Management
Dashboard
- Current Outstanding Amount: Displays the remaining loan balance.
- Current Monthly Payment: Shows the fixed monthly payment due.
- Amount Repaid: Tracks the total repaid amount.
- Total Loan Amount: Displays the original loan amount.
- Eligible Loan Types: Lists loan options employees are eligible to apply for.
- In-App Notifications for Approvals: Sends real-time notifications within the app when a loan application is approved, keeping employees informed of their loan status instantly.
This dashboard helps employees stay updated, manage repayments, and apply for new loan options easily.
Advanced Loan Eligibility Engine
- Eligibility Configuration: Automatically determines eligibility for various loan types based on job level, department, tenure, and other employee-specific parameters.
- Maximum Loan Eligibility: Calculates the maximum loan amount an employee can qualify for, based on predefined criteria.
- Loan Tenure: Sets the appropriate loan tenure based on the employee’s profile and financial eligibility.
- Approval Workflow: Defines multi-level approval processes, ensuring the right approvals are in place for different loan types and amounts.
This intelligent engine ensures fair, consistent, and efficient loan processing, providing personalized loan options for employees while automating complex decision-making rules.
Seamless Loan Application
- Intuitive Interface: User-friendly loan application page guiding applicants through essential fields like loan term, amount, and purpose.
- Customizable Loan Options: Adjustable loan term and amount using interactive sliders to meet applicant needs, with terms ranging from 1 to 3 years.
- Automatic Eligibility Checks: Instant feedback on eligibility and semi-monthly installments, ensuring applicants stay within their financial limits.
- Clear Cost Breakdown: Real-time calculation of estimated monthly installments, including principal and interest, for transparency on repayment details.
- Role-based Information Input: Allows entry of co-maker details, such as designation and employee ID, for proper documentation and accountability.
Approver’s Dashboard for Loan Processing
- Comprehensive Status Overview: Provides a quick snapshot of all loan application statuses, including pending, approved, rejected, active, and closed loans.
- Loan Application Details: Displays essential information such as applicant name, designation, status, and loan amount, with filtering and search options.
- Detailed Payment Schedule: Offers a clear breakdown of amortization, principal, interest, and remaining balance for each loan, giving visibility into repayment obligations.
- Document Management: Allows approvers to review essential documents like personal information, credit rating, and eligibility documentation.
- Intuitive Workflow Navigation: Simplifies the approval process by enabling easy navigation between stages for review, approval, or rejection of applications.
Approver Workflow with Status Tracking and Amortization Details
- Approval Workflow Tracker: A visual progress bar tracks the loan application from submission to disbursement, offering clear visibility into each approval stage.
- Real-Time Status Updates: Each loan displays its current status, with history logs available through a “View History” link, ensuring transparency.
- Detailed Amortization Table: A breakdown of repayment dates, amounts, principal, interest, and remaining balance ensures full understanding of financial obligations.
- Downloadable PDF Summary: Approvers and applicants can download a PDF version of loan details and the amortization table for record-keeping and offline review.
- Additional Tabs for Comprehensive Review: Extra tabs like “Details,” “Documents,” and “Comments” provide access to supporting documents, personal information, and feedback throughout the approval process.
