🛡️ Control your operational risks and prevent fraud with withdrawal approval workflows

Hello there! 👋

Happy new month and welcome to March! 

As we step into a new month, we’re excited to bring you more tools and updates to help you scale your lending business seamlessly. From improved workflows to smarter decision-making, we’re constantly innovating to make lending easier, faster, efficient, and more profitable for you.

Here’s what we’ve been working on and why it matters! 👇

What’s New

🛡️ Control your operational risks and prevent fraud with withdrawal approval workflows

Here’s a scenario that concerns every lender: a customer initiates a large withdrawal that deviates from their usual behavior, or there is a subtle but suspicious pattern of activity that could indicate account compromise. Without the right controls in place, these transactions can be processed automatically, leaving little room to intervene before potential fraud or operational errors occur.

Our new withdrawal approval workflows are designed as an operational risk and fraud control mechanism, not a restriction on customer access to funds. You can configure approval requirements based on your institution’s risk appetite. For example, withdrawals above a specified amount may require managerial review. This is not about creating friction or delaying legitimate transactions. It is about introducing intentional checkpoints that help detect fraud, prevent account takeovers, and reduce operational errors before funds leave the system.

This feature has already helped lenders identify compromised accounts, flag suspicious withdrawal attempts, and avoid costly processing mistakes. It also creates a clear audit trail that supports compliance, internal reviews, and investigations when needed.

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💬 Communicate with your customers faster using our new messaging feature

Ever needed to send a quick clarification on a loan and found yourself switching between emails, calls, and internal notes? That back and forth slows decisions and creates room for miscommunication. With our new public messaging feature, you can now communicate directly with customers inside their loan or loan request. Simply add a public note from your admin console, and it becomes instantly visible on the customer’s web app. They can reply in the same thread, keeping everything structured and in context.

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📊 Automated credit bureau reporting

This is a reminder that automated credit bureau reporting is available to you.

Credit bureau reporting is a core part of responsible lending, but when handled manually it can quickly become time consuming and prone to errors. Delayed uploads, inconsistent records, and reconciliation gaps can quietly expose your business to regulatory risk and weaken your credit decisioning.

With our existing integrations to FirstCentral 🆖, CRC Credit Bureau 🆖, CreditRegistry 🆖, and TransUnion 🇷🇼, reporting can be fully embedded into your workflow. Loan data flows directly from your system to the bureaus without spreadsheets, manual exports, or last minute reconciliations.

If you are not currently using automated reporting, this is a good time to revisit it. Enabling it helps ensure consistency, improves turnaround time, strengthens compliance posture, and supports better credit decisioning across your portfolio.

What’s Better?

💰 Our savings feature is now better than ever

To make savings more flexible and easier to manage for both you and your customers, we have introduced powerful new configurations that give you full control over how returns are structured. You can now choose your preferred interest computation method, whether simple or compound, so your products align perfectly with your business model and target market. Beyond that, you can decide how often interest is applied, daily, weekly, monthly, or at the end of the period, depending on the experience you want to create. You also have the option to define how a month is calculated, either as a fixed 30 days or based on the actual calendar month.

These improvements mean fewer workarounds, clearer expectations for customers, and more precision in how your savings products perform. Whether you are building short term plans or long term wealth products, you now have the flexibility to design them your way.

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🔔 A new UI to manage your notifications on the admin console

We have refreshed the notification settings page to make it cleaner, clearer, and easier to navigate, while keeping all existing functionality intact.

This update does not change how notifications work. You can still configure triggers for email, SMS, and push notifications exactly as before. What has improved is the experience of managing them. The layout is now more structured, with better grouping of settings, reduced visual clutter, and clearer labeling so it is easier to find and edit what you need.

The goal of this update is simple: reduce friction for admins, improve clarity when reviewing notification rules, and make everyday configuration tasks more straightforward.

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⚙️ Control how loans are booked and assigned

You now have more control over how loans are booked within your organization.

You can decide whether selecting an account manager and office is mandatory during loan booking. This helps enforce internal workflow standards, ensures clear loan ownership, and reduces the risk of unassigned or incorrectly assigned loans.

You can also control which loan products are visible during the booking process. This allows you to limit product visibility based on your operational structure, simplify the interface for staff, and reduce booking errors by ensuring teams only see products relevant to them.

These controls help you standardize your internal processes, improve accountability, and reduce operational mistakes at the point of loan creation.

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What’s Cooking?

✏️ Edit the template of messages sent to customers

We are building a user friendly interface that will allow you to edit the actual content of notifications sent to your customers. Instead of relying on static templates or technical updates, you will soon be able to adjust message wording, tone, and structure directly from the admin console. This gives your team more control over customer communication while making it easier to keep messages relevant, clear, and aligned with your brand voice.

📉 Configure your penalties and fees to meet regulatory requirements

You will soon be able to configure your system to automatically cap penalty charges so they never exceed the loan principal.

Uncontrolled penalty accumulation can create regulatory exposure, increase repayment friction, and damage customer relationships. By setting a cap, you ensure charges remain proportionate and aligned with fair lending expectations.

This control helps you reduce compliance risk, prevent excessive customer debt burdens, and maintain a more balanced and transparent repayment structure, without requiring manual monitoring.

🤝 Referral system for team members and account managers

The referral system is being extended to help streamline how customers are assigned within your organization. When a customer signs up using a team member or account manager’s referral code, the system can automatically associate the customer with the same branch and assign the referring team member as the customer’s account manager once the account setup is completed. This removes the need for manual reassignment, improves customer mapping accuracy, and helps teams track the customers they bring into the system. It is a simple but powerful way to connect acquisition activity directly to operational ownership.

For more information about these features and updates, please reach out to us at growth@lendsqr.com and we’ll be more than happy to help. Remember, your satisfaction fuels our commitment to excellence.