FinanceMe.lk versus a custom-built loan system
Hiring a developer to build exactly what you want sounds sensible. Lenders who have done it will tell you the building is the cheap part.
| Topic | A custom system | FinanceMe.lk |
|---|---|---|
| Time to start | Months of meetings, building and testing. | Today. |
| Up-front cost | Hundreds of thousands of rupees or more. | Nothing; a monthly fee after the trial. |
| When the developer leaves | Nobody else understands the code. | A team that maintains the product for all its customers. |
| Interest and schedules | Tested on your loans only, often after a mistake is found. | Tested logic for flat, reducing, daily, weekly, monthly and harvest loans. |
| Security | Depends on one developer’s experience. | Permissions by role, hashed passwords, session protection and a full activity log. |
| Mobile app and SMS | Separate projects with separate costs. | Included. |
| Fitting your exact process | Built around you. | Configurable products and roles; Enterprise customers can ask for changes. |
When a custom system is the better choice
If your process is truly unusual and you have the budget for a permanent in-house team, building your own can make sense. Most lenders find their needs are closer to everyone else’s than they expected.
How to switch
- 1
List the reports and rules your current system handles, and check them against the features page.
- 2
Use the free trial to run a sample of real loans through FinanceMe.lk.
- 3
Talk to us about anything missing. Enterprise plans can include custom work.
Open your loan book in FinanceMe.lk today
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