Mobile & Web-based System; Ensure Checks, Credit Scoring & Quick Turnaround
LOS Solution empowers BFSI with an online interface on its website to facilitate the acquisition of loan applications. This system connects online loan applicants who use the internet and smartphones and prefer to submit loan applications and documents online.
LOS allows BFSI to launch its loan schemes online, with self-service interfaces for EMI calculators, ready reckoners for loan eligibility, and document checklists. This facilitates loan application acquisition and appraisal processes around the clock.
Pre-configured workflows for credit scoring, document checklists, and approvals help reduce turnaround time by up to 50%. LOS also provides mobile-based access to applicants and bank management for status tracking.
LOS provides end-to-end automation solutions for loan origination. The solution offers comprehensive features including:
- Pre-configured workflows for retail and corporate loans.
- Configurable and parameterized to specific practices of BFSI.
- Ready reckoners for eligibility and EMI calculations.
- Document checklist and management.
- KYC check, credit bureau check, and credit rating.
- Notifications and dashboard.
- System for origination processes by the credit section in branches and head office.
- Amount-based approval workflow for officers, managers, and management.
- Configurable fees/charges engine with activity-based auto charges posting.
- Agency-based loans.
- Third-party integrations such as PAN verification, credit bureau, and core banking.
- Round-the-clock online access for loan applications, status tracking, and document uploads.
- Automation of credit department processes with the correct documentation for every loan case.
- Computation of applicant credit score and eligibility based on uploaded documents.
- Document management system for storage and retrieval of documents uploaded by branches or online applicants.
- Uniform credit appraisal techniques and processes across all loan products and credit officers.
- Configurable charges engine with automated posting of service charges.
- Simple GUI and secure solution.
- Online role-based access to external agencies such as valuation, legal, and architectural firms for quick responses.
- Complete workflow of hierarchical authorizations by credit officers, committees, and management.
- Online integration with credit bureau systems and e-KYC systems for identifying online credit scores and KYC details.
- MIS and dashboards for management to track the product-wise status of loan applications and turnaround times.
- Loan approvals with exceptions and recording of those exceptions.
- Standardized templates for sanction letters and agreements.
- Uniform platform with seamless integration with other modules in the TrustBankCBS Suite.
- Reduced turnaround time, essential for acquiring good and secure loan applicants, and excelling in competition with other BFSI organizations.
- Sound credit appraisals and documentation minimize the risk of bad loans.
- Transparent evaluation through set rules improves the overall process.
- Correct and uniform documentation of security and agreements ensures better recovery.
- Consistent software and platform for LOS operations across branches, central credit sections, and agencies.
- Round-the-clock real-time system for online customer acquisition.
- Increased business opportunities and reduced operational costs.
