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Also serving Calicut
Lending in Kozhikode runs from gold loans and kuri funds to traders' advances to growers; loan management software gives each its schedule, its security record and its overdue list.
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Photo: Keerikkadanjose · CC BY-SA 4.0, cropped · via Wikimedia Commons
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Interest recalculated by hand after every part-payment, and a borrower who spots the mistake first.
A schedule that recalculates itself after each receipt and prints a statement for the customer on the spot.
Gold packets and title deeds located by asking the senior clerk who remembers where they went.
Every security recorded against its loan with location and release status, found in seconds at closure.
Overdue accounts discovered when someone scans the register at month end.
A daily overdue list by branch and collection agent, with reminders sent when an account first slips.
Credit has always been part of commerce in Malabar. Finance firms and co-operative societies from Koduvally to Balussery lend against gold, vehicles and property. Arecanut traders on Nut Street in Vadakara and spice dealers in the city advance money to growers and agents ahead of the harvest. Furniture and appliance sellers offer instalment schemes to salaried customers. The amounts are modest and the volume is high, and much of it is still tracked in registers and spreadsheets.
Our loan and lending software, built on ERPNext, manages the full cycle: loan products with their interest and charge rules, applications and KYC documents, sanction workflows, disbursal, repayment schedules, interest and penalty accrual, security and collateral records, field collections through a mobile app and overdue and NPA reporting, all posting to the accounts.
Case studies
Adventure Sports Cover 360 (ASC360)
ASC360 — ERPNext + Mobile App Cut Policy Issuance Time 70%
MultiWealth Capital
MultiWealth Capital — ERPNext Cut Loan Processing Time by 60%
Dumas Bakes N Meals Private Limited
Dumas Bakes N Meals — ERPNext Lifted On-Time Deliveries by Over 40%
An example
A customer walks into a finance firm's branch in Koduvally to close a gold loan taken before the school season. The clerk opens the account; interest to today is already computed, last month's part-payment is reflected, and the receipt prints. The pledged packet is located from its recorded shelf, checked against the photograph on file and released with a signature captured on screen. Across the counter a spice dealer's agent asks for an advance against pepper that a grower in the hills will deliver after the harvest; the loan is created under the grower-advance product with its own terms, to be adjusted against produce delivered. In the afternoon the collection agent's app shows three accounts near Balussery that slipped this week. Head office in the city sees all of it before the branch closes.
Lending systems carry compliance weight, so we begin by understanding your products, rules and reporting obligations in meetings at your Kozhikode premises, with your auditor present if you wish. Configuration and data migration are handled from Kochi and verified loan by loan on a sample. Branch staff and collection agents are trained in person before go-live.
Discovery. Your loan products, interest methods, collection routine and reporting.
Blueprint and fixed scope. A clear plan, the deliverables and the timeline, agreed in writing before configuration starts.
Configuration. Loan products, schedules, disbursement, repayment, collections and the books behind them.
Data migration. Borrowers and running loans with their schedules and outstanding balances.
Training, go-live and support. Your team tests on real data, we stand beside you at launch, then support continues under a plan.
The scope and timeline are agreed in writing before work starts.
Spices and coffee trading
Advances to growers and agents recorded as loans with agreed terms, adjusted against produce delivered, so the dealer knows his exposure to each supplier before committing further money.
Wholesale and retail trade
Instalment sales of furniture, electronics and appliances managed with proper schedules, post-dated instrument tracking and reminders, kept apart from ordinary trade receivables.
Co-operative societies and finance firms
Multiple loan products, member-wise exposure, branch-level operations with central oversight, and the statutory and audit reports that regulators and the society's board require.
Yes. Active loans are migrated with their outstanding principal, accrued interest and remaining schedule, and balances are verified against your current records before going live. Closed loans can be kept as reference data if required.
Collection agents travelling to interior parts of Kozhikode and neighbouring hill areas will meet weak coverage. The mobile app is designed for field use, and we test how it behaves on your actual routes during the pilot, before agents depend on it.
Yes. A single-branch firm uses the same loan, security and accounting features without the multi-branch layer. ERPNext has no per-user licence fee, so the system can grow to further branches without a change of platform.
After a first conversation about your loan products, branches and the volume of running loans, we agree the scope and send you a written quotation. The price, the deliverables and the timeline are fixed against that scope before any work starts, so nothing grows without your sign-off.
You speak to someone who does this work, not a call centre. They ask about your loan products, how collections run and what you use today. If it looks like a fit, we agree the scope and put it in writing, with the timeline, before any work starts. If it does not, we tell you.
Nut Street, Vadakaramarket
collection and distribution centre for coconut and arecanut, dried, packed and sent to other states
Where coconut and arecanut are collected, dried and dispatched to other states; traders here advance money to growers and agents ahead of the season, and each advance needs a schedule and a record.
Source: en.wikipedia.orgBalussery Block Panchayatlocal body
A rural block in the district's interior where co-operative societies and finance branches lend against gold and land; collection agents ride these roads and need the app to cope with weak signal.
Source: kozhikode.nic.inKoduvally Municipalitylocal body
A municipality on the road towards the Wayanad ghat with a busy trading centre; a single branch here is the typical first site for a small finance firm's system.
Source: kozhikode.nic.inPlaces and organisations are named for local context only. Acube Innovations is not affiliated with or endorsed by them.
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Kochi (Kadavanthra & Infopark) · Thiruvananthapuram · across India & overseas · In business since 2011