Loan Origination Software
AppSmart is a digital loan origination and workflow system which facilitates the on-boarding of new customer across multiple channels. AppSmart’s high degree of automation enables credit managers to become more risk intelligent.
Fast and efficient Loan Origination
Designed to deliver the most efficient loan origination process by evaluating an applicant’s expectant payment performance, thus reducing the amount of applications for referral. AppSmart processes transactions in real-time and uses an internal workflow for managing accounts. Workflow system facilitates business in developing and maintaining policies, practices and procedures that define the complex business strategies used in application originations.
WHY CHOOSE APPSMART?
Automated decisions simplify the account origination process and enable real-time application originations and risk decisions.
RISK-BASED PRICING SYSTEM
A risk-based pricing system that offers configurable price and fee set definitions by product.
INTEGRATION AND INTERFACING
Developed using industry-standard software development and database tools, languages and technology. Can be easily interfaced to any host (core) software system. Provides user-configurable and flexible scorecards, characteristic definitions and scorecard assignments.
APPLICATION FRAUD PREVENTION
Offers storage and retrieval of fraudulent information, including online capture or bulk load of fraudulent data via XML.
EXAMPLE OF A STANDARD FLOW
Check out a typical loan application process flow managed through AppSmart
AppSmart is a modular loan origination system that automates the origination and risk evaluation of credit applications captured via a web based interface. Key features include:
AUTOMATED DECISIONING based on determined strategies (driven by policy rules), application scorecards, credit bureau data and scores RISK BASED PRICING SYSTEM that offers configurable price and fee set definitions by product DATA VALIDATION RULES AND WORK QUEUES configured and defined at delivery ensure correct, useful and meaningful data PRE-CONFIGURED INDUSTRY BEST PRACTICE workflows, calculation fields, reporting and policy rules DECISION TREE ASSIGNMENT for risk-based lending enabling assessment of applications and administration of appropriate risk rating parameters combined with credit bureau scores to automatically decision applications
CREDIT SCORING integrated scoring engine with flexible scorecard assignment capabilities. An unlimited number of scorecards can be installed, each with different characteristics, attributes and values. SUPPORT OF MULTIPLE CHANNELS mobile, terminal, tablet and online FRAUD PREVENTION MODULE offering storage and retrieval of fraudulent information as well as online capture or bulk load of fraudulent data via XML SECURITY MAINTENANCE AND ACCESS LEVELS to allow for roles and permissions to be defined for individual users and user groups PRODUCT MAINTENANCE provides ability to capture product details, associated loan type, scorecards, evaluation cut-off and interest rate models per product INTERFACES WITH EXTERNAL AND INTERNAL DATA SOURCES such as account processing systems, credit bureau and fulfilment agents (e.g. letters and SMS).
A couple of the companies using AppSmart to streamline their loan origination process.
MINIMAL RELIANCE ON INFRASTRUCTURE AND IT
Web-based hosted system and ease of use put the power of implementing and executing a decision in the hands of the business
New products and policy rules can be defined, business rules and decision strategies can be modified for immediate implementation to deliver a tailored solution.
Can be used for a variety of credit products, presentation can be modified to meet specific needs.
Application workflow reduces application processing time by enabling automated decisions through a robust decision engine
Enforced through the use of configurable decision elements, such as scorecards, decision tables, and policy rules.
Reporting of all applications across workflow status, ensuring that all in progress cases are visible.