It’s always important to get reviews and what people who have used a certain product think about a certain product.
Getting a cloud based core banking system requires your attention and a sound decision.
Lets have a look at two loan management systems, Loanbook and OpenCBS
- Loan Book is free and you don’t necessarily have to contact the vendor for any clarifications on pricing but for OpenCBS you might consider getting a demo and later acquire the system.
- OpenCBS can actually handle more than Loan book making it support intensive. You definitely need training to use the system. For loan book, the system has been set up for you and all you do is start lending . It is pretty simple and zero support is required
- Due to it’s complexity, it takes time to start using OpenCBS, during the implementation period, training and UAT, for Loan book, you start using it as soon as you are done with the sign up.
- Due to it’s simplicity, most of time you won’t require any customization. It’s simple, sign up and start lending. For OpenCBS, you need to engage the developer once in a while to get the best experience.
OpenCBS offers a basic solution that includes CRM, loans, savings, reporting, accounting and more!
Loanbook serves people and organizations running simple lending operations. Simple interest loans, Reducing Balance Loans, Straight Line Loans.
Loanbook is perfect for lending companies/individuals.