Loans Originations and Loans Management Platform

10 Steps of the Originations Process

Visualization of how loans originations is processed

1. New Application is Created

A new loan application is received in Close Origination from a web, mobile or any front office application. This can be done via a web service or HDN interfaces so intermediaries, dealers and retail partners can all service their customers in this process.

10 Steps of the Originations Process

Visualization of how loans originations is processed

2. Internal sources are consulted

Loan application is enriched with data from internal sources to execute the necessary verifications. These are for example the clients CRM systems, administration systems of intermediaries and dealers, and employee administration systems.

10 Steps of the Originations Process

Visualization of how loans originations is processed

3. Pre-score is calculated

A preliminary score is provided based on the evaluation of information from the first 2 steps.

10 Steps of the Originations Process

Visualization of how loans originations is processed

4. Consulting external sources

Loan application is enriched with data from external sources for the purpose of compliance, fraud prevention and creditworthiness evaluation. Additional sources can easily be added to the process.

10 Steps of the Originations Process

Visualization of how loans originations is processed

5. Automatic assessment.

The application is assessed based on the information retrieved from the previous steps. Maximum loan capacity, credit restriction such as the monthly installment, (theoretical) duration of the loan, credit rating and the interest rate are automatically calculated. In addition, a credit risk profile can be determined and taken into account when evaluating.

10 Steps of the Originations Process

Visualization of how loans originations is processed

6. Manual assessment.

Complex loan applications may be processed manually by the underwriter, thus the system also enables traditional underwriting processing, but in a very efficient way.

10 Steps of the Originations Process

Visualization of how loans originations is processed

7. Proposal is created

The proposal, including the corresponding stipulations list and validity of the offer/contract is generated.

10 Steps of the Originations Process

Visualization of how loans originations is processed

8. Evaluation of stipulations

Stipulations such as ID, proof of income, bank statements, proof of living costs, etc. are processed and tested of fraud and on consistency. After all information from the application, external sources and the supporting documents have been verified, the final assessment takes place.

10 Steps of the Originations Process

Visualization of how loans originations is processed

9. Loan Disbursement

Loan application is enriched with data from internal sources to execute the necessary verifications. These are for example the clients CRM systems, administration systems of intermediaries and dealers, and employee administration systems.

10 Steps of the Originations Process

Visualization of how loans originations is processed

10. New contract is sent to back-office.

Data for contract administration is collected and the whole client file is forwarded to the back-office application. Optionally, a welcome letter can be forwarded to the applicant(s), and or the intermediary.