Loan Management System for NBFC
Narinder Rana
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.
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Posted Oct 7, 2024
A backend solution for managing loan processing for an NBFC, including borrower management, loan disbursal, repayment tracking, and compliance checks.
