What is PrimeSquare?
PrimeSquare is a digital platform that enables banks and financial institutions to efficiently process real estate Approved Project Finance (APF) and Non-APF projects.
The solution simplifies workflow complexities and improves lender’s management rules and policies.
PrimeSquare’s Project Tracking System generates precise property valuations based on an accurate automated valuation model, reducing the time taken in loan processing.
Why PrimeSquare?
The real estate APF & Non-APF market in India is growing, and banks, NBFCs, and HFCs are finding it challenging to efficiently manage their operations. PrimeSoft understands the business-critical challenges faced by the industry and is excited to introduce PrimeSquare, the solution to digitize APF processes.
Our digital offering is designed to address business-critical challenges and ensure that following objectives are met:
Faster onboarding
Quicker data entry, reporting, and decision-making
Centralized project data and documentation
Proactive risk identification
Information confidentiality
Effective project progress tracking
Collaboration across agencies and users
Interface with Loan Origination and Core Banking applications
Salient Features
Digitized Workflow
A configurable digitized workflow driven by entitlements optimizes the project approval process.
Builder Scoring Model
Define your parameters, rate a builder, and auto-generate builder score as per the city’s tier.
Pincode Mapping
Map projects to their geographical presence for the project allocation to the right person for decision-making.
Duplicate Project Checks
Configure checks based on the name and location of the project/builder to avoid duplication.
Risk Identifier
Restrict users from creating projects marked as negative, and avoid risks with the ability to define certain projects as negatives.
Deviation Management
Generate exposure and fraud deviations, and route the deviations to appropriate authorities for action.
Payment Plan Configurator
Configure payment plans for structure types and map projects to the appropriate state/city.
Geography-based Document Recommender
Get insightful recommendations based on documents applicable to a specific geography.
Agency Allocation
Allocate projects to various technical and legal agencies for submitting project verification reports.
iN-Communicator
Raise queries to stakeholders about specific data sets and track resolutions’ turn-around time.
TAT & Escalation Matrix
Define turn-around time for each step and automated escalations in case of TAT breaches.
Subsequent Valuation
Trigger subsequent valuation automatically for projects by defining the time frames as per state and city.
Track Price Movement
Arrive at a scientific valuation of the property at different stages of the project completion with an ability to get a historical view of the price per square foot.
Integrate with Existing Systems
Integrate with any LOS & LMS, and track sanctioned and disbursed amounts along with an exception report.
Internet & Intranet Hosted and Cloud-Ready
Can be deployed readily on AWS Cloud, Azure Cloud, Google Cloud and on-premise servers.
See our digital property finance
product in action.
How It Works
Project Onboarding
Onboarding of builder group or individual on the project.
Users: Branch, Sales
Project Verification
Uploading project documents and verifying project details.
Users: Technical Managers
Agency Verification
Uploading/updating technical and legal reports/property photographs.
Users: Agencies
Project Data Entry
Entering property details, mapping of payment, tagging plans exposure, and mapping pre/post disbursement documents.
Users: Technical Managers
Recommendation
Generating auto deviations and tag general deviations.
Users: Regional Technical Managers
Project Approval
Activating forum-based approval process to approve/reject the project.
Users: Agencies
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