VeriLoan Loan Origination and Servicing Solution

VeriLoan

Loan Origination and Servicing Solution

Architecture

ONLINE BANKING

TABLET BANKING

MOBILE BANKING

SMS BANKING

SELF SERVICE KIOSK / ATM

SOCIAL BANKING

DEALER

REAL ESTATE AGENT TELE-SALES DIRECT-SALES

BRANCH

CALL CENTER

Personal Loan

Credit Card

Auto Loan

Mortgage

Customer Search & Deduplication

Eligibility Calculator

Provisional Offer Letter

Repayment Schedule Generation

Single Customer View

Credit Scoring

Document Template & Form Generation

Credit Policy Automation

Loan Booking & Disbursement

Products Pricing & Document Packages

Central Bank, WorldCheck and emCredit Checks

Collateral Management

SALES CREDIT RISK OPERATIONS HR COMPLIANCE

VeriLoan is a web based lending automation for financial institutions. It automates the complete loan origination process from pre-application to application, from systems check to deviations, from underwriting to financial approvals to operational steps, while strictly enforcing products' credit policy rules throughout the process.

Sales Unit

Start

Eligibility Calculation

Application Creation Client ID Reservation

De-dup Check

Application Printing

Document Verification and Checklist Control

Centralize Scanning & Data Entry

Document Scanning

Data Entry

Data Entry Verification

Credit Unit

External Systems Checks

Contact Point Verification

Credit Analysis

Deviation & Finance Approval

Operations Unit

Finance Booking

Customer Communication

End

VeriLoan brings about taster turnaround time with its focus on paperless processes. In this manner, loan applications processes are generally finalized in four hours. Powerful deduplication logic enables early detection of both existing customers and previous applicants early in the process to prevent costly rejections by detecting previously rejected prospects at the initial stage.

Generic and Flexible Product Definition Framework

Products are defined through a combination of packages. End users can define any package and build a product by combining any of the following packages:

Document Package

Pricing Package

Credit Package

Expense Package

Payment Plan Package

Collateral Package

Wide range of Interest Rates, Payment Plans, and Flexible Pricing:

Payment plan options Increasing/Decreasing Installments Increasing/Decreasing Interest Rate Flexible Payment Plan (Regular/Irregular repayments) Teaser Rates/Buy Down Options Reset Option Equal Principle Decreasing Balance

Interest rate options Fixed Interest Rate Variable Interest Rate Fixed and Variable Interest Rate Increasing/Decreasing Rate HELOC

Product Details

Documents

Vade

Instalment (USD)

Principal (USD)

1

615,09

602,96

2

615,09

436,99

3

615,09

440,18

4

615,09

443,39

5

615,09

446,63

6

615,09

449,89

7

615,09

453,18

8

615,09

456,48

9

615,09

459,83

Fees

Payment Plan

Interest (USD)

Remaining Debt(USD)

12,13

24.397,04

178,10

23.960,05

174,91

23.519,87

171,70

23.076,48

168,46

22.629,85

165,20

22.179,96

161,91

21.726,69

158,61

21.270,30

155,37

20.810,48

Payment Date

14.01.2014 14.02.2014 14.03.2014 14.04.2014 14.05.2014 14.06.2014 14.07.2014 14.08.2014 14.09.2014

RUSF

0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00

BITT

0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00

VeriLoan - Loan Origination and Servicing Solution



Rule Engine Based Eligibility

Each product has its own credit policy. These policies are defined in a rule engine and enforced at early stages of an application in eligibility calculators. The rule engine allows definition of rules on age, income, and occupation restrictions, as well as calculations of customer's eligibility, debt burden ratio, and limits. Applications are automatically validated against the policy, with an indication of required approvals.

The rule engine provides end users the possibility to immediately change existing rules and add new ones as necessary, with effective dates, versioning, audit trail, and publishing functionality.

Servicing Features

No Objection Restructuring Early Closure Letters

Collection Features

Collection Strategy

Workflows

Proactive Actions

Re-financing

Payment Deferral

Settlement

Activity

Dashboards

Management

VeriLoan gathers proven technology, processes and people under the framework of a holistic solution resulting in reduced costs, a single 360?

customer view and defragmented channels.

VeriLoan - Loan Origination and Servicing Solution



Key Features

Eligibility Calculators

Policy Based Calculators Web, Call Center, CRM Interfaces Black List Checks Dedup Warnings Employer Listing Based

CRM Integration

Deduplication Application History Eligibility Check at Call Center Lead Capture at Call Center

Loan Work flows

Origination Sales Documentation Blacklist Processing Appraisal

Lien Underwriting Disbursement Closing Post Closing Servicing

MIS Dashboard

Queue Performance Report TAT Report Ageing Applications Report

Rule Engine

System Parameters Definition Rule Definitions Eligibility Analysis Escalation Rules Scoring Logic

Back Office

Security Commissions Reporting Provider Management

Systems Check

Internal Black List World Check Central Bank Checks Credit Bureau Scoring

Integration Module

Central Credit Integration Core Banking Integration Certificate of Identification Authentication Integration Local Address Database System Integration Earthquake Hazard Database Integration

Servicing

Early Payment Early Closure Restructure Refinance Payment Deferral Collections

About VeriPark

VeriPark is a software house specialized in providing software solutions to financial institutions. VeriPark is a Gold Partner for Microsoft Dynamics CRM and has offices in Istanbul, Dubai, Riyadh and Cairo.

VeriPark finance sector solution offerings

VeriBranch

Omni Channel Delivery Solution

Internet Banking Call-Center Kiosk Branch Teller SMS Banking Mobile Banking

VeriTouch

CRM Solution for Banking and Insurance

Contact Center 360 Degree Customer View Complaint Management Marketing New Customer Enrollment Sales Lead Capturing Sales Force Automation

VeriLoan

Loan Origination Solution

Personal Loans Credit Card Auto Loans Mortgage Loans Servicing and Application Processes

VeriLoan - Loan Origination and Servicing Solution



 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download