Moneylender 3 Beta Progress
It's been about two months so since Moneylender 3 was released in Beta. There are a few people that are actually using it to service their loans. In most cases, it's because the new capabilities allow them to better tailor the program to their loan structure.
A lot of the program is functional. A new wizard that walks you through closing a loan and zeroing out the balance is almost ready. In place of Moneylender 2's behind-the-scenes and somewhat arbitrary loan-zeroing routines, in Moneylender 3, you'll have a couple straightforward options to deal with surpluses and deficits at the end of a loan. Another major result of the new calculation engine's transparency and adaptability.
The next section of the application to get attention will be the reporting system. Reports get the testing and polishing needed to be ready to answer nearly every question a lender might ask of their loans, and provide the ability to create and customize reports to find answers to the most exotic analyses.
As reporting shapes up, the video and text documentation will commence and we should be in the big push toward production release. There are a few capabilities available in Moneylender 2 that are yet to be implemented in Moneylender 3. Most notably, Metro2 credit bureau reporting and custom fields. These will all be added into the software before Moneylender 3 is officially released.
It has been exciting to work with the many lenders who have taken on the challenge of using the new program. It is becoming ever more stable, and hopefully more people will step into the platform to broaden the scope of the beta testing period.