Finflux Reviews & Product Details

Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

1. Custom reports are instantly available

2. Non availability of Support on any holiday is known in advance

3. The core LMS functionalities are easy to understand

4. Top tier of the team is always approachable

5. Constant upgrade Review collected by and hosted on G2.com.

What do you dislike?

1. User documentations are old

2. They may need to increase their Support team strength. Except for Critical issues, fix / enhancements for other issues could be done sooner

3. Most of the tool tip texts are not helpful

4. Patches for bugs should be available in the current version in addition to an upgraded version Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Finflux is our core LMS. Through the tech enhancements, we can now do a basic credit check right at the time of sourcing. This has a right-then-and-there feedback for the customer. This has also helped us in reducing the risk and improving the productivity.

Finflux is also integrated with our other tech applications through which our various departments can manage the loans as per our own business logic. Review collected by and hosted on G2.com.

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Finflux Overview

What is Finflux?

Finflux is SaaS based lending platform that offers all-in-one solutions for needs of loan origination, loan management, financial accounting, marketplace integration, app based lending, alternative data based credit scoring, dashboards & reporting and analytics. At present we are serving about 4+ million borrowers with active loan portfolio of $3.2 billion. FinFlux is a fast-growing lending platform which offers classic and bespoke solutions. We can serve myriad institutions ranging from who serve the bottom of the pyramid (BOP) to nuanced (non)-banking/financial institutions. Microfinance, SACCOs, Banks, FIs, evolving Fintechs, Business Correspondents, Aggregators in origination process, Agent networks and many more. Finflux breaks the transactional input model to outcomes based model to achieve competitive advantage. Digitization, authoring underwriting rules, rules-based automation in workflows, tiered maker-checker and approvals offers differentiated customer experience and digital journey. It's cloud-first and then mobile-first empowering the field force. The platform comes with many must-have integrations and marketplace nexus to improve the time to market. Purely a SaaS-based model, aimed truly at impeccable architecture fine-tuned for performance benefits (API round trip times < 2 seconds), banking grade security & compliance and scale on demand.

Finflux Details
Website
Languages Supported
Arabic, English, Esperanto, French, Hindi, Portuguese, Thai, Vietnamese, Chinese (Simplified)
Product Description

Finflux is SaaS based banking platform that offers all banking needs at one place, needs like loan origination, loan management, collection module, financial accounting, marketplace integration, app based lending, alternative data based credit scoring, reporting and analytics and many more. At present we are serving about 4+ million borrowers with active loan portfolio of $3.2billion.


Seller Details
Seller
Conflux Technologies Pvt Ltd
Company Website
Year Founded
2010
HQ Location
Bangalore, Karnataka
LinkedIn® Page
www.linkedin.com
39 employees on LinkedIn®

Overview Provided by:
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Finflux Reviews

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Quality Analyst
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The development happening within the Organization and efforts to ramp up the product and open approach towards connecting different Digital flatform is great things Review collected by and hosted on G2.com.

What do you dislike?

The Production development phase needs to be faster as the Banking industry needs are growing fast, and quick TAT is the need for today Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Good Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Having MIFOS flatform as a base, matured product features suites best to JLG and NBFC industry

Having LMS and LOS in a single platform, the addition of Android-based collection module helped us to do a quick adaption of Android-based collection process with increased flexibility having offline collection module which is added advantage

The Rule engines and Risk criteria based underwriting module, helped us to adapt workflow-based decision making for dynamic Products helped us to take decision much faster

PAYMENT API's, CIC's Integration helped us to complete the Loan disbursal process faster and Aadhar Data Vault and CKYC integration helped us to meet compliance requirements better Review collected by and hosted on G2.com.

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Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Finflux is continually working to improve their products and provide new features to align with business requirements. Finflux comes with the complete suite of operational tools and reports to support needs ranging from loan origination and management to analytics and mobility solution. We use financial accounting module for our NBFC as well as a variety of 3rd party integrations for our NBFC and business correspondence. The staff is considerate and supportive. Their product road map is ambitious and well defined. Review collected by and hosted on G2.com.

What do you dislike?

With highly customizable configurations and workflows instigates initial time and effort for beginners, tutorials could have come in handy. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

1. The productivity of operations team has improved significantly

2. Ease of beneficiary validation

3. Eligibility check for individual loan applications is quick and reliable Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Finflux has enabled role and function appropriate access to the organisation, which in turn has improved productivities and decision-making. The team at Finflux is responsive and knowledgeable and have provided flexibility for our independent needs. Review collected by and hosted on G2.com.

What do you dislike?

Some functions are repetitive and time consuming, for example, a SELECT ALL option when closing offices. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We have worked with the Finflux team from inception and there is a good understanding of the organisation and its requirements. We have been able to rollout mobile devices to field staff which have improved productivity both within the field and the head office admin team.

We are currently working with Finflux to enable additional tasks to be performed in the field at source - we believe that this will continue to improve productivity while also improving data accuracy Review collected by and hosted on G2.com.

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Software Support Lead
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from G2
What do you like best?

This is a next fen technology for banking and finace industry whoch enables the Credit or money lending platform with automation and Mobility. Giving cross platform efficiency with API interface. Review collected by and hosted on G2.com.

What do you dislike?

Having And optimistic approach while work voids issues still The cost could become a barrier when needed in finance and Time os also a constraint. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

recommended!! Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

While working on thi have understood automation drives the business and enabling custom interface with user enahnces growth. Review collected by and hosted on G2.com.

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Executive Director
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Ease of use, simple and clean user interface.

A. Mobile app for field officers, quick on-boarding of groups and clients.

B. Reporting and Analytics, powerful tool to detect early warnings, frauds and trends

C. Effective collection module, helps field officers get the collections on time

D. Loan Mitra, Digamber's private agent banking network Review collected by and hosted on G2.com.

What do you dislike?

Notification system, email notification, sms and app based notification need more user friendly Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

1. Growth: Digamber was able grow almost 100% YoY

2. Paper less and Cashless: With help of FInflux mobility and digital solution, we are able to achieve 100% cashless and paper less

3. During demonetisation, Finflux helped with cashless collection

4. Effective monitoring of the operation (Risk, Frauds, Quality of the portfolio) Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Clean, well defined and documented banking APIs, compliance with Open banking specifications and developer-friendly. Timeliness of the vendor response for our project office was exemplary. We took the time to make our platform ready but when it came to integrating with Finflux, it was as if done already. With the right technology experts in-house, it was a smooth and pleasantly surprising deployment. Review collected by and hosted on G2.com.

What do you dislike?

Advanced configurations can be challenging and require a steep learning curve. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Return of Investment reduced TCO. We did not want to reinvent the wheel. It just suited us nicely. Review collected by and hosted on G2.com.

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Head Of Project Management Office
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Ease of integration using their APIs and tools. We have done multiple integrations and timely deployment. Integrate easily from core system with external marketplace requirements.

Finflux's business agility is commendable. Finflux is a robust platform that allows us to handle large volumes transactions. Review collected by and hosted on G2.com.

What do you dislike?

We had some teething issues, but Finflux engineering and delivery always rose to the occasion. Better resource allocations. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Finflux gave us the platform and jumping board to be early adopters in the digital lending wave in India. Helped with the swift turnaround times and excellent mid and back-office integrations. These vary from KYC/Fraud detection solutions to payment gateways. Which in turn, offered a competitive advantage. Review collected by and hosted on G2.com.

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AB
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The way the system is designed. It can solve all the problems that we could think of. Including the accounting piece.Everything seems to be tailor made to our operational requirements. The system is highly configurable , proved to be a boon for us.But, one needs to be very careful here. Review collected by and hosted on G2.com.

What do you dislike?

One time setup is a bit complicated. One needs to put a lot of effort and sit with FINFLUX team to setup the system.But, i feel this would be with every banking solution. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are using FINFLUX as our Loan Management System. The benefits of this system is it helps us save a lot of time by doing financial reporting, automating the disbursals directly to bank accounts, automating the credit bureau reports and hard rejecting the customers. The hard rejection of customers through negative profiling is a very usable feature which reduces the chances of manual errors and helps keep the Risk in check. Review collected by and hosted on G2.com.

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UF
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

As I work in MIS department, every day playing with data is my job.

Some of the features I like most are

1. Rich set of standard reports, analysis friendly format

2. Unlike other banking software, Finflux is highly responsive and fast

3. Finflux analytics module, easy to slice and dice the data for analysis Review collected by and hosted on G2.com.

What do you dislike?

At this point no major dislikes, If they can publish the road map upfront, very useful Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Using FInflux analytics module we were able achieve below objectives

1. Identify the process bottle necks and addresses them on-time, this resulted in faster TaT for loan disbursement

2. Fraud detections, using various limit indicators and patter recognition, we were able to detect most of the frauds on-time and prevent most of them.

3. PAR tracking and helping field staff for ontime collection

4. Data exchange between various stokeholders was completely automated, reduce TAT and minimal data exchange errors. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Ability to understand our organization's needs. They realize each customer is unique. Experienced installation team and aligned partnership. Finflux took us to the market quickly along with required customizations and technology adoption. They understand the business they are in and are able to match the requirements in an agile way and deliver fast. Review collected by and hosted on G2.com.

What do you dislike?

We do not have any dislikes at this point Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Finflux implementation helped our goal of reducing time to market for our products.

Also, helped with co-lending and tranche based disbursements. Meet the regulatory compliance needs (RBI, GST, TDS) Review collected by and hosted on G2.com.

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Relationship Manager- Inclusive Finance Institutions
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Quickest integrations with the third-party system, Some of our NBFC partners use Finflux, Finflux has out of the box integration with RBL Banking APIs.

On-time customer service makes them my choice. Most customer-friendly company. Review collected by and hosted on G2.com.

What do you dislike?

User manuals are not up to date, need video tutorials Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Finflux helps our NBFC & Microfinance partners for API Banking integrations, such as disbursement, beneficiary validation. Review collected by and hosted on G2.com.

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IF
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Conflux team having depth understanding in Business requirements/Partner needs. They are focus on the client end goals. Review collected by and hosted on G2.com.

What do you dislike?

Expecting reduce TAT and Quick delivery based on the Business requirements Review collected by and hosted on G2.com.

Recommendations to others considering the product:

User Friendly software, You can grow your Business as you expected Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

They supported in many enhancements in our current system, We able to manage transparency in customer loan track, Able to Disburse loans in less time (reduced TAT), Accuracy in Loan Management system , helped us for Preparation of Customized schedules as per our business requirement, Customized calader for center meeting JLG Model Review collected by and hosted on G2.com.

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