Loan Origination System
An end to end workflow technology to support loan processing
What is Smarts Loan Origination System ?
The Loan Origination System (LOS) is developed in particular to support the loan application processing of banks and financial institutions. LOS provides very user-friendly workflow technology to control and monitor end to end loan processing activities.
Features
- Application Creation and approval work flow
- Approve/Reject of defined criterion. Approval Workflow Feature allows users to approve/ reject each criterion and leave a comment for the rejected one
- Search functionality: Approval Workflow Feature allows users to search applicants by Name, CIF etc
- Define existing and new customer automatically
- Show history of approvals and assigned scores
- Calculate financial criteria automatically from balance sheets and income statements
- Manage all documents uploaded via a "See attachments" view to allow all documents to be managed in a single view
- Adjust ranking automatically in case of delay in payment via an "Overdue" field that will rank adjust automatically dependent on value of the field
- Either on-premise or cloud deployment possible
- Uses methodology accepted widely by regulators worldwide
- Consultancy and modelling provided by Smart as optional add-ons
Credit Scoring
Smart’s Score builder automatically calculates the score of a loan application based on the applicant information entered and the score card developed using score builder. A score card can be easily developed and parameters can easily be changed with the built-in score builder interface. Multiple score cards for different loan types are supported in LOS.
Application Status Information
LOS can provide information on status of loan application and where the application is pending at the moment. This is helpful for customer service representatives to manage enquiry from the customer. There is application history associated with each application. It records down all the activities completed on the application beginning from when an application first enters the workflow till processing completes.
