IKON - Devasthan Trust Management, Pilgrim Devotee, Online Donation, Online Pooja Booking, Dengi Management

RETAIL LOAN ORIGINATION SYSTEM

NEWGEN RETAIL LENDING ORIGINATION SOLUTION

Problem Statements

  • How do you handle the burden of rigid Core Banking system?
  • How do you incorporate ever changing Policies with minimal disruption?
  • How do you ensure business with 100% Compliance knowing? “To Err is Human”
  • How do you give Loan to more number of people within same time duration?
  • In this extremely competitive Lending Landscape how do you maintain customer loyalty through your Core System.

If you find any of the above issues then please fill the Request a Demo form on the right or write to us at partners@newgen.co.in

Customer-Experience

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KEY BENEFITS

  • Import of Credit/Loan Applications: Multi/Omni channel initiation is possible using BPM based Retail Loan Origination Solution. In the era of digitization where nobody wants to travel and come to branch to apply for loan; there is a need to rethink if Core Banking System is solely sufficient for Retail Loan Origination Solution. In current scenario the origination process begins with manual collection or import of new credit applications through various channels. A loan origination system must be able to access and process applications from any inbound channel, such as web portals or front-office applications.
  • Document Management System/ Collateral Management: Loan origination systems are subject to stringent regulations for audit compliance. All such data and decision based systems must be consistently recorded and auditable at all times. Moreover, Loan process is highly document and collateral extensive. Therefore, as soon as collaterals of loan applicants are captured, they must be included in the process of credit loan process to provide visibility and to improve transparency in the loan process.
  • Risk Assessment: Banks are required to establish early warning systems for constant risk monitoring. For retail customers, credit risks have to be identified based on early warning indicators that can help in reducing loan cycle and optimizing time of bank users. For the retail segment, behavioural scorings can also be applied using robust Rule Engine provided by Newgen Retail Loan Origination Solution.
  • Flexible and Agile Workflow Engine: During loan application processing, several automated and manual decision-making processes have to be passed to get the final credit-decision. Therefore, Newgen Retail Loan Origination Solution provides the flexible and agile solution which is not rigid like Core Banking System and can be effectively designed to incorporate changes in minimum time without coding.
  • Credit Bureau Integration: The integration with external data providers (credit bureaus) is an essential part of both the new and existing business, and therefore requires an automated data acquisition and interpretation capability. Often banks need to integrate with multiple credit reporting agencies to evaluate overall rating of the applicant. Newgen Retail Loan Origination Solution provides integration connectors to integrate easily with third party and credit bureau agencies to fetch data and provide 360 degree view of the customer to the bank.
  • Unified experience to the Users: Newgen Retail Loan Origination provides seamless integration with Core Banking System by sitting on top of all legacy systems to provide unified experience to the bank users and customers. This also leads to avoiding redundant data entry.

SOLUTION HIGHLIGHTS

  • Pre-screening: Check applicant eligibility along with credit checks
  • Credit Application Management: Seamless on-boarding with configurable templates for data capture
  • Underwriting & Credit Analysis: Comprehensive credit assessment tools for underwriting and engenders score as part of internal scoring engine
  • Decision & Approvals: Rules driven matrix ensures a robust validation and approval process for loan disbursal
  • Document Management: Maintenance and segregation of documents and generation of loan packages with pre-defined bank specific templates
  • Collateral Management: Unified workflow around releasing, updating, valuing and moving collaterals and other linked processes
  • Deviation & Delegation Management: Supports event and rules-based management of exceptions as well as appropriate workflow routing
  • 360 degree dashboard: Configurable functional, operational and investigative reports & dashboards
  • Disbursement: Integration with core banking and card management systems for customer and account creation and supporting amortization schedule generation with full/partial disbursement schemes
  • Integration with Third Party Applications: Seamless integration with bank’s third party and legacy applications such as Core Banking Solutions, Rating Applications, Credit Bureau Systems etc

Newgen Software - Solutions for BPM, ECM, Case Management, DMS, Workflow Software and Business Process Automation.

Newgen Software is a leading global provider of Business Process Management (BPM), Enterprise Content Management (ECM), Customer Communication Management (CCM), Case Management, Document Management System (DMS), Workflow and Process Automation software. The company has a global footprint of 1300+ installations in over 61 countries with large, mission-critical solutions that have been deployed at the world's leading Banks, Insurance firms, BPO’s, Healthcare Organizations, Government, Telecom Companies & Shared Service Centers.

Newgen Software Inc. is a wholly owned subsidiary of Newgen Software Technologies Ltd. - Leader in ECM, BPM, CCM and Case Management space.