Margill Solutions: Ushering Flexibility in Loan Servicing

Marc Gelinas, President & CEO, Margill SolutionsMarc Gelinas, President & CEO
Loan management in companies can be a tricky business if not conducted in an organized and efficient fashion. While servicing loans, too many non-traditional financial institutions commit rampant errors and interest is often overlooked, leading to a fissure in their accounts. “Non-core lenders tend to rely on cumbersome solutions such as spreadsheets, failing to realize the missed fines and even end-of month accrued interest—millions of dollars are improperly accounted for due to the lack of automation in their systems,” emphasizes Marc Gelinas, President and CEO, Margill Solutions. A lawyer and veteran in the financial software sector, Gelinas explains how the Margill Loan Manager is bridging the market gap of a modern, technologically advanced loan servicing system powered by automation. Designed specifically for the non-traditional core and non-core lending organizations, the Loan Manager reaches out to solve the issues that core banking software solutions are unable to address.

“What makes the Loan Manager second to none is its sophisticated mathematics, user customization and automation, coupled with a very visual interface for complex payment schedules,” says Gelinas. Having experienced a constant evolution since almost two decades, the mathematical engine behind the solution possesses the capability to calculate complex mathematical situations accurately and provide instant access to right information, thereby extenuating the risks of exorbitant errors while also reducing the time consumed in servicing simple and complex loans, mortgages, lines of credit, receivables, judgments, and leases. The Loan Manager reminds the unmindful, subprime customers of the payment by sending them automated emails, leading to a significant 10- 20 percent reduction of payment bounce rates. The Loan Manager also eliminates obsolete spreadsheets and manual processes in different payment scenarios—regular and irregular payments, fixed principal, interest-only and lump sum payments or even a combination of several methods.

With its customization features and unparalleled mathematical muscle, the solution supports credit managers all the way from loan creation, payment posting, to the production of invoices and statements and accounting reports with utmost flexibility.

What makes the Loan Manager second to none is its sophisticated mathematics, user customization and automation, coupled with a very visual interface for complex payment schedules

Besides, the solution’s unique visual user interface equips organizations with a comprehensive and organized view of all the data to align their loan strategy in accordance with the unusual scenarios.

Catering to Fortune-500 companies who deal with inter-company loans, governments and non-traditional lenders looking for specific needs in order to manage their assets, the company observes a plug-and-play onboarding process for its clients via spreadsheets. Margill offers a customized reporting feature which enables users to create their own reports with more than 1000 fields to choose from and extract the financial data according to their requirements.

Gelinasunderscores how banks function in regard to seasonal loans similar to farm loans. Margill Loan Manager allows prime and subprime lenders to lend money with a payment structure based on their client’s unusual cash flow. For instance, organizations can levy the first six months as interest-only payments, followed by lump sum payments in the harvesting season and lower payments during the off-season.

Elaborating more on the company’s ventures, Gelinas states how one of the lenders with a few thousand loans in the Caribbean region immensely benefitted from the Margill Loan Manager platform. The lender maintained no true structure in terms of granting loans to borrowers, which made it difficult for them to tackle odd case scenarios. As per reports generated within a few seconds with Margill Loan Manager, it was discovered that loan amount to women surpassed that of the male borrowers by over 10 percent. This type of socio-economic analysis has since allowed the lender to adjust its lending practices.

With an active footprint in the US, Canada, Europe, Africa, Australia, and the Caribbean countries, “We aim to strengthen our client base in terms of sophistication by offering a constantly evolving platform,” concludes Gelinas.