Luminous, a boutique innovation company that focuses on baking, recently unveiled an improved version of its BankFiling solution. The latest release aims to considerably decrease the risks associated with lending for the banks. The solution will assist banks in processing comprehensive customer data in real-time, thereby allowing them to track the current financial health of their customers. Bank employees will also receive a system produced report detailing possible risk and qualification levels.

In a statement, Andrew Buchanan, global head of sales at Luminous, said, “When it comes to lending we are seeing two issues, firstly from customers who are worried that if they apply for a loan and are refused it will damage their credit rating and from banks who are being pressured to lend more money while reducing risk.”

Customers will also be able to upload important information incognito using BankFiling. This will help customers to establish their eligibility for a business loan. Potential clients will therefore be persuaded to apply for loans without spoiling their credit rating.

Business customers can upload their financial information from any accounting package to the bank using the Web-based self-service solution, BankFiling. All the data is stored centrally and can be accessed easily by any authorized bank employee. The banks are offered improved lucidity for compliance with loan contracts and any related penalty charges as the solution computerizes the collection and capture processes. Luminous is able to enhance banking processes and deliver ground-breaking products, by leveraging its expertise and field experience.

Several advances in the banking arena have been unveiled by Luminous. Banks are able to deliver best-in-class ROI and decreases expenses with the help of Luminous' exceptional business case driven approach. Luminous has offices in London, New York, Johannesburg and Brisbane.