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Gold loans, cooperative society credit and private finance are part of everyday life in Malappuram, and lenders here still track instalments in registers that no auditor enjoys.
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Interest and penal charges are worked out on a calculator when the borrower arrives, and two clerks get two answers.
Accrual by product rules gives the same figure every time and prints a statement the borrower takes home.
Pledged ornaments are entered in a bound register and matched to packets in the strong room during audit.
Collateral records with weight, purity, valuation and release history make pledge verification a report.
Overdues are noticed when an account is months behind and the field staff go out with a list from memory.
Daily ageing, automatic reminders and a collection app with on-the-spot receipts act at the first missed instalment.
Credit in Malappuram moves through many hands: service cooperatives in each of the district's 94 grama panchayats, gold loan counters in every town, private financiers funding vehicles and consumer goods, and microfinance groups. Repayments bunch around Gulf salary dates and slip when a job there is lost. Lenders need to see their book clearly, and few do.
Acube implements loan and lending management on ERPNext. Loan products carry interest method, repayment frequency, charges and collateral rules. The system covers application and KYC, sanction workflow, disbursal, repayment schedules, part-payment and foreclosure, interest and penalty accrual, collateral records, mobile field collections and NPA reporting, with every transaction posted to the ledger.
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An example
A vehicle and consumer finance firm at the Kuttippuram junction sends four collectors out on the fifth of the month, the day after most Gulf salaries land. Each man's phone holds his route, with accounts sorted by days overdue and the last visit note. At a house near Valanchery the collector takes a part payment, prints a receipt from a pocket printer, and the account updates before he starts the bike. A borrower in Tirurangadi asks for a foreclosure figure; the collector reads it from the screen instead of phoning the office. By evening the manager sees which routes collected, which accounts need a second visit, and the day's cash reconciled.
Lending systems carry compliance weight, so discovery is thorough. We visit your main branch and a sample counter in Malappuram to document products, interest rules, registers and audit expectations. Existing loans are migrated with balances verified account by account. Setup is handled from Kochi, and we are on site for go-live and the first month-end closing.
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.
Gold loan lenders
Pledge details on every loan, scheme-wise interest, renewal and part-release handling, overdue tracking and branch-wise portfolio reports for firms with counters in Kottakkal, Tirurangadi and the other highway towns.
Cooperative societies and private financiers
Multiple loan products for members, surety and collateral records, sanction committees mapped as approval workflows, and NPA classification with provisioning reports prepared for audit.
Retail and vehicle finance
Instalment credit for two-wheelers, consumer durables and furniture bought from local dealers, with EMI schedules, dealer-wise disbursal and field collection routes around Kuttippuram and Manjeri.
Yes. Each active loan is migrated with its original terms, amount disbursed, repayments received, accrued interest and outstanding balance on the cut-over date. We reconcile totals with your ledger before go-live. Closed loans can be loaded as history or left behind.
Yes. The same configuration serves a single counter or a multi-branch lender. A small firm gains most from automated interest, clean statements and a ledger that ties to the loan book. Field collection apps can be added when the book grows.
The system produces NPA classification, ageing, provisioning and portfolio reports, configured to the formats your auditor or regulator asks for. We are software implementers, not compliance advisers, so requirements are confirmed with your auditor and built to that specification.
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.
Kuttippurammarket
commercial junction on NH 66 and the Bharathapuzha with public-sector industry
A commercial junction on NH 66 and the Bharathapuzha, where vehicle and consumer finance counters serve borrowers from both banks of the river.
Source: en.wikipedia.orgKottakkal Municipalitylocal body
A highway commercial centre thick with gold loan counters, where pledge records and daily rate-based valuations are the core of the lending book.
Source: malappuram.nic.inTirurangadi Municipalitylocal body
A municipality of remittance households where repayment dates follow Gulf salary cycles, and a lender's ageing report has to read that rhythm.
Source: malappuram.nic.inPlaces and organisations are named for local context only. Acube Innovations is not affiliated with or endorsed by them.
Get a clear plan, an honest timeline, and a fixed scope. Talk to a real expert today — whether or not you work with us.
or write to info@acube.co
Kochi (Kadavanthra & Infopark) · Thiruvananthapuram · across India & overseas · In business since 2011