Fintech company Lentra has announced the launch of its software-as-a-service (SaaS)-based loan management system, called 1LMS, on Google Cloud Platform (GCP). The platform utilizes microservice architecture, where features like KYC and collateral are treated as independent microsystems. This architecture allows for a more agile and nimble system compared to traditional monolithic architectures, enabling financial institutions to launch new products more efficiently.
Previously, Lentra’s loan management system was hosted on a different cloud provider. However, with its expansion into Southeast Asian markets, including Indonesia, the Philippines and Vietnam, Lentra sought to scale up its infrastructure. By partnering with Google and leveraging GCP, Lentra aims to enhance its overall system capabilities.
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The key advantage of 1LMS lies in its ability to handle high transaction volumes at a rapid speed of up to 500 transactions per second. The system’s microservice architecture enables seamless scalability and growth for businesses. Additionally, 1LMS offers a user-friendly interface that consolidates borrower information into a single screen. This streamlines loan management processes for lenders, including equated monthly installments (EMI) and non-EMI products, while ensuring operational efficiency and minimal downtime.