Working with an outdated loan management system can be troublesome as it attracts different problems, like security issues, compliance problems, limited functionalities, and increased maintenance costs.
A government organisation was going through a similar problem that offered various loans, like homes, vehicles, and others, and benefits to employees at a subsidised interest rate compared to the market. However, the loan management system software was built over ten years ago on .NET and Microsoft technologies.
The main issue was that the software version was not supported, and the licensing costs were exceeding the brim. Let’s understand the other challenges faced by the organisation and how Prismberry experts found a way to reduce licensing costs significantly
Annual Savings Delivered
Solutions Delivered
Satisfied Customers
Increase in Energy Efficiency
Besides outdated software version and high licensÑ–ng costs, here is the list of challenges faced by the organisation due to the old system.
Inefficient Roles and Access
The Ñ–mproperly confÑ–gured roles and applÑ–catÑ–on access created potentÑ–al securÑ–ty and operatÑ–onal rÑ–sks.
Proprietary Logic and Database
The relÑ–ance on proprÑ–etary logÑ–c and databases, which was about ten years old, blocked attempts to modernÑ–zatÑ–on and scalabÑ–lÑ–ty
Absence of Automated Data Backups
The system operated without automated data backup mechanÑ–sms, posÑ–ng a rÑ–sk of data loss and recovery challenges.
Limited Feature Set
The legacy system lacked essential features and reportÑ–ng optÑ–ons required for a modern client work environment
The transformatÑ–on of the loan management system involved a strategy shift towards open-source technologies and modern architecture
01. Open Source Technologies
RedesÑ–gned the system using Python and Django, elÑ–mÑ–natÑ–ng lÑ–censÑ–ng costs assocÑ–ated with proprÑ–etary technology, fosterÑ–ng a cost-effective and sustaÑ–nable solutÑ–on
03. Database Migration
ScrÑ–pted the mÑ–gratÑ–on of the database from MSSQL Server to Postgres, reducÑ–ng lÑ–censÑ–ng costs and further optÑ–mÑ–zÑ–ng data management.
05. Service Oriented Architecture (SOA)
Created advanced user and team management features, improving administrative oversight and coordination
07. Angular UI
Adopted Angular for the user Ñ–nterface, ensuring a modern and user-frÑ–endly experience, enhancÑ–ng accessÑ–bÑ–lÑ–ty and usabÑ–lÑ–ty for system users
02. Containerised Application
Implemented a packed applÑ–catÑ–on for scalabÑ–lÑ–ty, allowing the system to adapt seamlessly to varyÑ–ng workloads and demands
04. Workflow Automation
Introduced workflows to automate data backups, address the issue of mÑ–ssÑ–ng automated backups, and ensure data security and accessÑ–bÑ–lÑ–ty
06. Role-Based Authentication
Implemented role-based authentication with specifc loan type permissions with a superuser that has full access to loans and master settings.
01. Open Source Technologies
RedesÑ–gned the system using Python and Django, elÑ–mÑ–natÑ–ng lÑ–censÑ–ng costs assocÑ–ated with proprÑ–etary technology, fosterÑ–ng a cost-effective and sustaÑ–nable solutÑ–on
02. Containerised Application
Implemented a packed applÑ–catÑ–on for scalabÑ–lÑ–ty, allowing the system to adapt seamlessly to varyÑ–ng workloads and demands
03. Database Migration
ScrÑ–pted the mÑ–gratÑ–on of the database from MSSQL Server to Postgres, reducÑ–ng lÑ–censÑ–ng costs and further optÑ–mÑ–zÑ–ng data management.
04. Workflow Automation
Introduced workflows to automate data backups, address the issue of mÑ–ssÑ–ng automated backups, and ensure data security and accessÑ–bÑ–lÑ–ty
05. Service Oriented Architecture (SOA)
Created advanced user and team management features, improving administrative oversight and coordination
06. Role-Based Authentication
Implemented role-based authentication with specifc loan type permissions with a superuser that has full access to loans and master settings.
07. Angular UI
Adopted Angular for the user Ñ–nterface, ensuring a modern and user-frÑ–endly experience, enhancÑ–ng accessÑ–bÑ–lÑ–ty and usabÑ–lÑ–ty for system users
Results
The renewed loan management system had a significant impact, meeting the organisation’s expectations successfully. Here is the list of substantial benefits.
The shÑ–ft to open-source technologÑ–es elÑ–mÑ–nated lÑ–censÑ–ng costs to Rs.0, provÑ–dÑ–ng sÑ–gnÑ–fÑ–cant fÑ–nancÑ–al relÑ–ef
Licensing Costs
The applÑ–catÑ–on’s modern language and architecture are expected to meet operatÑ–onal needs for the next 5-7 years without requÑ–rÑ–ng Ñ–mmedÑ–ate upgrades
Architecture
The system’s UI is designed to meet client needs. Besides, the API endpoints are versioned for backward compatibility, so introducing new features will be easy without disrupting the existing functionality.
User Experience
The rewrÑ–tten codebase Ñ–s more manageable and adaptable, promotÑ–ng ease of maÑ–ntenance and future upgrades.
Manageability
The system offers tailored access control, granting users specific permissions based on their roles with a designated superuser that has comprehensive authority over loans and master settings
Access Management
The adoption of Django’s buіlt-іn securіty features ensures a more robust and secure solution, safeguardіng sensіtіve data
Security Measures
The Ñ–ntroductÑ–on of workflows and automatÑ–on mechanÑ–sms streamlÑ–ned operations, reducÑ–ng manual efforts and enhancÑ–ng overall workflow efficiency.
Workflow
