Loan Origination System

The loan application processing phase is elaborate. It requires a lot of formalities and documentation to take the process to the next stage. Organizations dealing in micro-finance and NBFCs can derive incredible business traction with the full-scale automation, zero errors, and completely secure operations enabled by the loan origination module of CloudBankIN lending solutions. It not only boosts your customer acquisition processes, but also provides a cost-effective way to manage the huge set of loan applications received at different branches.

CloudBankIN loan origination module is a cutting-edge application offering automated solutions for both direct & indirect lending. CloudBankIN offers you customizable applications, futuristic features, and enhanced integrations enabling financial institutions to deliver instant response to applicants from any origination channel.

CloudBankIN loan origination system is designed based on your institution’s policies and tolerances. It follows your business metrics and rules. The customization option enables easy generation of credit report, collateral, ratios, and aggregates.

CloudBankIN design offers complete safety and ease to work with a host of other options:

• Create application design easily that matches the loan origination workflow per product
• Gain data access and control, allowing authorization overrides whenever needed. By limiting the changes to the status of the application you can keep the data safe.
• Add data fields whenever required on the data entry screen
• Easy navigation panel allows smooth workflow
• You can integrate the cross-selling platform to deliver specific offers, referral messages, etc., to customers or to other departments within the institute
• Automatically print forms for document processing, do electronic signing, and archive documents to your system
• The queuing system allows you to check if an application exceeded the threshold of the process time
• The interest rate management option allows you to create a custom rate table to manage all rates individually
• Get reports and analytics easily with individualized dashboard, easy access to all the data using business-friendly terms, and automatic distribution of email to respective staff within the institution

The CloudBankIN loan origination system is designed to add tremendous value to the customer acquisition process for financial institutions. The agile solution adds total convenience to all steps in the way, including acquiring a borrower, putting borrower details on the system, initiating the loan process, checking credit, assessing the documentation, approving or rejecting the loan application, and disbursing the loan.

Our proprietary loan origination system is designed to streamline these steps and alleviate the risks to generate better financial outcomes for the organization. This way we provide 100% holistic back office and front office support for loan application processing. Some of the key features of the loan origination system that enable instant and automated decisions are:

1. e-KYC Process: CloudBankIN e-KYC process streamlines the entire on-boarding procedure. It fastens the verification and keeps you aside of all the paper works that consumes more time.
2. Efficient Credit Performance
3. Credit Bureau Integrations: The loan origination system has a built-in credit scoring system. This enables a streamlined and efficient monitoring of credit performance for an application
4. Custom Rule Engine: This feature enables the collection agent to configure their own parameters and evaluate the borrowers based on it. These parameters are structured based on the Organization’s needs. It also helps them reach the rural people with ease.
5. Digital Imaging Support: Say goodbye to reams of papers accompanying a loan application. With integration of imaging and archiving, storing and retrieval of necessary data pertaining to the customer acquisition process becomes easy to handle. Human errors in paper handling can be eliminated easily with this solution.
6. Configurable Workflows: We know that no two organizations follow the same workflow for loan origination and processing. Hence, we give you the freedom to configure the workflow as per your operational model and business rules. Even Business Analysts who do not have the technology expertise can easily customize the solution and start getting immediate value
7. Holistic: All the below steps of the customer acquisition processes are taken care of by the CloudBankIN loan origination system. These include loan appraisal and approval across different stages like document verification, credit checks, eKYC, disbursement scheduling, contract preparation, loan sanction, customer on-boarding, and disbursement
8. GPS-based Location Mapping: This serves as a key feature for policy compliance and security, through which the Collection Agent can be easily tracked. This path tracker enables GPS tracking tool in their phones, thereby letting you track them with ease.
9. Mobile Application: The CloudBankIN mobile application eases the collection process. It has the offline-enabled feature, through which the Collection Agents can easily access the application and enter accurate data even at remote locations. This app is usually in sync with the database, thereby supporting the offline feature to a great extent.

The cloud-ready & responsive user interface ensures a secure, anytime–anywhere access to the different data of the loan origination process within the organization. We have built-in capabilities for document imaging and archiving.

This provides a paperless record-keeping of all data of the borrower in a systematic fashion. In addition to being environmentally conscious by saving paper, we also make it a completely hassle-free loan origination operation. Our eKYC enables faster verification process and the GPS-enabled mobile app helps you track your collection agent even if you are in a remote location. As CloudBankIN loan origination system is a One Stop lending solution, here are some major benefits of opting for it:

1. Total Automation

We have fully automated the business process involved in customer acquisition and loan processing – from eligibility calculator to pre-defined business rule engine

2. Better Operational Efficiency

Initiation of loan applications via multiple delivery channels can be integrated into the system

3. Quick Addition of New Products

New loan products can be easily added to the solution. It will be complete with the necessary rules and compliance protocols associated with the new loan product

See how your organization too can benefit from faster processing at every step of the customer acquisition process – right from lead management to closing, with CloudBankIN fully-equipped loan origination system.

To be a lender in the innovation curve, come to us, the One Stop Lending Solution – CloudBankIN Loan Origination System! To know more, we request you to sign up for a Demo with us, as you can take a thorough trip through our lending process.

Signup for Free Trial