Loan Management System for NBFC

Description:

A backend solution for managing loan processing for an NBFC, including borrower management, loan disbursal, repayment tracking, and compliance checks.

Tech Stack:

Java, Spring Boot, Spring Security, MySQL, Kafka, Redis, REST APIs, Quartz Scheduler.

Key Features:

Loan Application Module: Borrowers can apply for various types of loans, with applications reviewed by admins.

Borrower Management: CRUD operations for borrower information, including KYC verification using third-party services.

Loan Disbursal & Repayment: Automated processes for loan disbursal, repayment schedules, and tracking using the Quartz Scheduler for job management.

Repayment Tracking: Calculate EMI, generate schedules, and send reminders for repayments.

Integration with Kafka: Used for event-driven actions such as notifying users on loan disbursal, upcoming EMIs, etc.

Wallet Management: Implemented a wallet system to manage funds for customers, including a cap of 50,000 for wallet balances.

Change Data Capture (CDC): Integrated Debezium with Kafka and MySQL for real-time monitoring of changes in borrower and loan details.

Challenges & Solutions:

Scalability: Ensured scalability for loan and borrower data using caching (Redis) for frequently accessed information.

Transaction Management: Utilized Spring's transaction management to handle critical financial operations securely.

Compliance: Implemented compliance checks during KYC using third-party APIs to meet NBFC regulations.

Security Measures:

Implemented multi-factor authentication (OTP-based) for borrower access.

JWT-based authorization for secure API calls.