Loans and Mortgages
OSS (Origination and scoring system): Solution set to track the complete cycle of Mortgage & different loan Processing.
Informatics’ Origination and Tracking system covers the complete cycle of Mortgage processing from application, Prescreening, verification, scoring through approval, disbursement to collection, and associated features of reporting and documentation. As with any banking application, security is of prime concern.
Informatic Systems has implemented OSS in Barclays banks in UAE as well as in India and Africa in the areas of; loan approvals, origination system for consumers, commercial and corporate loans, Credit card management, administration and security workflow, credit scoring, and work flow documentation.
- Receipt of loan requests through various means (bank branches, Internet, mobile sales force)
- Checking the applicant for his credit worthiness by applying a suitable credit-scoring model.
- Two layers of scoring for each lead.
- Rejecting applications before the processing initiates or before the stage of approval.
- Further analysis and processing, sanctioning, or rejection of the application
- Tracing the status of approval through workflow at all stages
- Assistance for ensuring complete documentation for sanctioned loans.
- Capturing all the necessary data for each lead.
- Storage, control, and retrieval of the documents.
- Restructure of loan, write off, loan regularization.
- Reports for various purposes including MIS and statutory reports.
Work flow-There is limited controls available with in the system, manual entries through loan application. With out completing requisite required module the user will not be able to go forward with the other module.
The proposed OSS application would provide the bank with an opportunity to improve strategic efficiencies covering the following three important areas:
- Reduced cost —in terms of lower cost of processing.
- Reduced cycle time — in terms close monitoring and evaluation of the business processes.
- Increased enterprise value — in terms of better information, timely escalations, and better customer service.
Automatic Approval — Each loan application can be verified against a set of parameters and approved or rejected by the system. This greatly facilitates a very quick disposal of the application.
Client Information — All the client information can be captured in the front-end system and can be transferred to various other systems. The details of prospective customers can also be captured and used later once the proposal crystallizes.
Product Information — The system is highly parameterized and all the product information can be maintained in the workflow system.
Dedup facility-Automated Dedup and Resolution.