OneCore Loans App

Requirements Gathering & Analysis (1-2 weeks)

• Understanding your specific business needs

• Defining core functionalities, workflows, and user roles

• Analyzing integration points with existing systems

Project Planning & Design (1-3 weeks)

• Creating a project roadmap and timelines

• Designing user interfaces and workflows

• Planning customization and data migration strategies

Development & Customization (2-6 weeks)

• Implementing core features

• Customizing features to fit business needs

• Developing integrations with other systems (e.g., CRM, accounting)

Testing & Quality Assurance (2-4 weeks)

• Internal testing to identify bugs and issues

• User acceptance testing (UAT) with your team

• Refinements based on feedback

Deployment & Training (1-2 weeks)

• Deploying the system in your environment or cloud

• Training staff on usage and workflows

• Providing documentation

Post-Implementation Support & Maintenance

• Ongoing support to resolve issues

• Regular updates and enhancements

Flexible Workflow Configuration: Tailoring loan approval processes, credit checks, and repayment schedules.

Branding & UI Customization: Customizing logos, color schemes, and user interfaces to match your branding.

Integration Capabilities: Connecting with third-party APIs, banking systems, CRM, or accounting software.

Module Additions: Adding or removing features such as risk assessment, collections, or reporting modules.

Localization & Language Support: Adapting the system for different languages or regional settings.

Data Fields & Forms: Customizing data input fields, loan application forms, and customer onboarding processes.

Security & Compliance: Implementing specific security protocols or compliance measures based on your industry standards.

Setup Fees:

• One-time initial setup fees vary depending on customization complexity, usually ranging from $1,000 to $10,000+

Licensing & Subscription Fees:

• Monthly or annual subscription costs can range from \500 to \5,000+ depending on features, number of users, and deployment options.

Customization & Development Costs

• If extensive customization is required, hourly rates for developers typically range from $50 to $150 per hour.

Training & Onboarding:

• Training sessions and onboarding support may cost an additional 500−500−2,000+

Support & Maintenance:

• Support packages can be charged annually, often around 15-20% of the license fee, covering bug fixes, updates, and troubleshooting.

Hosting & Infrastructure Costs:

• If hosted on cloud servers, expect costs based on data storage, bandwidth, and server usage.

Onboarding & Training Programs

Initial Training Sessions: Usually conducted via live webinars, in-person sessions, or recorded videos to familiarize users with the system.

Customized Training: Tailored training based on your team’s roles (e.g., loan officers, admin staff, IT).

User Manuals & Documentation: Comprehensive guides explaining system features, workflows, and troubleshooting.

Interactive Demos: Hands-on demonstrations to walk users through core functionalities.

Support Services

Help Desk & Ticketing System: Assistance via email, phone, or ticketing platform for technical issues.

Dedicated Account Manager: For large or enterprise clients, personalized support during onboarding and ongoing.

Regular Check-ins: Periodic review meetings to address challenges and optimize system use.

Training Refreshers: Additional training sessions or updates whenever new features are launched.

Support Levels & SLA

Support is typically tiered, often including basic, premium, or enterprise plans.

Data Encryption

At Rest: Data stored in databases are encrypted using standards like AES-256.

In Transit: All data transferred between users and the system is secured via SSL/TLS protocols

User Authentication & Role Management

Multi-factor authentication (MFA)

Role-based access control (RBAC) to limit data visibility and operational permissions.

Regular Security Audits & Compliance

Periodic vulnerability assessments and penetration testing.

Compliance with relevant regulations like GDPR, PCI-DSS, or regional standards, if applicable.

Data Backup & Disaster Recovery

Automated backups stored securely.

Recovery plans to ensure data integrity in case of failures.

Audit Trails

Detailed logs of user actions for accountability and forensic analysis.

Infrastructure Security

Hosted on secure cloud environments (e.g., AWS, Azure) with robust security controls.

Firewalls, intrusion detection systems, and regular security patches.

Frequency

Many SaaS platforms release updates on a quarterly or bi-annual basis.

Minor patches, bug fixes, and security updates can occur more frequently (monthly or as needed).

.Management & Deployment

Automated Updates: Many updates are deployed automatically with minimal disruption.

Scheduled Maintenance Windows: For planned updates or major releases, maintenance windows are communicated in advance.

Change Documentation: Release notes explaining new features, improvements, and fixes provided with each update.

Impact on Users

Typically, updates are designed to be seamless.

Critical security patches may require brief downtime or notifications.

Data Ownership

Typically, the client (your organization) retains full ownership of all data entered into the system.

The vendor usually acts as a data processor, hosting and managing the data under the agreed terms.

You should confirm that the contract explicitly states that your organization owns all data and has rights to export and retrieve it at any time.

Data Portability

Most SaaS providers offer data export functions to allow clients to retrieve their data in standard formats (CSV, Excel, JSON, etc.).

Check if there are any restrictions or fees associated with data export or migration.

Flexible Contract Terms:

• Many vendors allow you to scale user licenses or features up or down with minimal notice, often with a predefined process.

• For larger scale adjustments, some providers charge prorated fees or require a notice period (e.g., 30 or 60 days).

Pricing Adjustments:

• As your organization grows or shrinks, prices typically adjust based on the number of active users or modules.

• Some vendors offer tiered pricing or volume discounts for larger deployments.

Contract Flexibility:

• Confirm if the contract allows for mid-term adjustments without penalties and what the notice periods are.

Renewal Policies

Usually, contracts are renewed automatically on an annual basis unless canceled beforehand, with renewal terms specified in the agreement.

Some providers offer renewal notifications well in advance (e.g., 60-90 days before expiry).

Renewal terms often include updates to prices, policies, or features, which should be communicated clearly.

Cancellation Policies

Cancellation often requires a written notice within a specified period before the renewal date (e.g., 30 days).

Some contracts might have early termination fees or penalties, particularly if custom development was involved.

The process should detail data retrieval procedures upon cancellation and any obligations regarding data deletion.

Refunds & Liabilities

Clarify if any refunds are available upon termination and your obligations for payment up to the point of cancellation.

GDPR: If operating within or serving clients in the EU, strict data privacy and processing standards.

ISO 27001: International standard for information security management.

PCI DSS: If handling payment data (credit card info for loan payments).

Regional Data Regulations: Such as CCPA in California, or local financial and data protection laws.

Financial Regulation Compliance: Such as KYC/AML standards, if applicable.