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Intellect Consumer Finance
Functionality |
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| This solution automates
the entire loan lifecycle including Loan origination,
disbursal, maintenance, repayment schedule tracking,
accounting, prepayment processing, delinquency
and receivables tracking, non-accrual and charge-
off processing, foreclosure, top-up, roll over,
bad debt recovery, collections and collateral
management.
The loan processing is intelligently
handled by these, be it
- Stand-alone scoring based on income document
criteria or
- Consolidated scoring by linking to an external
scoring agency or
- Flexible and inheritable product features
like event based charging of fees and commission
or
- Prioritized repayment adjustment based on
delinquency status or
- Weighted average based interest/index linking
or
- Strategy driven collection queues etc.
Intellect Consumer Finance includes the following
offerings:
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Credit Origination
Intellect
Credit Origination system is a highly
evolved sourcing and credit evaluation
model which has been envisaged to support
Credit origination process through the
entire cycle including Lead Management,
Application processing, Contact Point
verification, Automated Credit Decision,
Underwriting, Risk and related functions.
It is an
integrated rule based parameterized system
capable of Straight Through Processing
with exception based manual intervention.
It has the capability to integrate Bank
users with their agencies and their systems.
Workflow
can be configured with help of Business
Rule Engine to decide the flow of the
application that should pass through various
stages & processes and triggers credit
scoring mechanism at each stage. This
invokes the automatic credit decisioning
and Loan processing.
Salient Features
- Configurable workflow based transaction
processing
- Processing system which will service
the following: Lead Management, Application
- Processing, Contact Point Verification,
Underwriting, Risk and other related
functions
- Configurable business rules
- Online Real-time Rules Execution
- Configurable Letter generation &
reporting modules
Lead Management enables sales
users to manage and track their leads and organize
their work in order to close sales calls. The
user can configure the data capture elements
based on various product and customer characteristics.
Activities to be undertaken at the various stages
of the application process can be flexibly defined.
Functions such as activity management, lead
correspondence, pre-screening of prospects and
appropriate reporting improve the efficiency
of the sales team.
Apart from helping the Credit
Officer take informed decisions, Intellect Origination
can also suggest Cross-sell and Up-sell opportunities.
Rules can be formulated and qualifying products
can be defined in the system to expand the bank's
relationship with its customers at an early
stage.
The Business Rule Engine is a
powerful tool that simplifies the credit decision-making
process through a flexible rule based definition.
It consists of customer segment information,
credit evaluation strategy definition, scoring
cards, policy validations and formula definitions.
Its user-configurable integration tool helps
banks to interface with external Credit Bureaus
for credit evaluation.
Intellect Origination's Image
Flow combines the modern technologies of imaging
and workflow to help re-engineer the origination
process. Imaging attaches scanned documents
(categorized and indexed) along with the transaction
details. The user views the scanned application
for data entry or store the scanned documents
submitted by the applicants in a repository.
Workflow is a user-defined, rule-based engine.
It helps to define the business process flow
using a user-friendly drag-and-drop approach.
Image Flow is an effective enabler for both
business process outsourcing and business process
management and leads to significant gains in
productivity.
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Loan Servicing
The Intellect platform
handles the entire loan servicing and
enables Banks to offer a consistently
superior customer experience across
different lines of business. It handles
the Loan processing, Flexible repayment
schedules, Disbursal, Customer repayments,
Partial prepayments, Prepayments, Loan
Rescheduling, Delinquency tracking,
Top-up and Rollover of Loans.
Accounting entries are
defined in the Intellect Lending system,
which would give handoff to the GL system
at the end of the day.
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Highly
parameterized product definition functions,
which provides multi-product support.
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The
system has the ability to define various
interest types, interest computation
methods, accrual methods principal
balance types, complex and structured
repayment options.
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Event
based fee definition
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Automated
delinquency tracking
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Customer
information is centrally managed in
Intellect Lending suite.
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Centralized
Collateral Management
With highly parameterized
product definition functions, the system
acts as a single platform for loan products
across different business lines. The
system has the ability to define various
interest rate types, interest computation
methods, accrual methods, principal
balance types, complex and structured
repayment options and other aspects
required to define an asset product.
Intellect Lending thus makes it easier
to launch new products and respond to
changing market conditions and customer
needs instantly.
Customer Information is
centrally managed in Intellect Lending.
Created once, all customer activities,
business, history and contacts are based
on the unique customer profile. This
enables the institution to have an online,
real-time and complete view of the customer
at all times, with product view of customer
activity, holding and credit exposure.
Intellect Lending facilitates
all activities from the creation of
a Loan to disbursal, maintenance, repayment
schedule tracking, accounting, prepayment
processing, delinquency, non-accrual
and charge-off processing. Features
like prepayment processing, early settlement,
top-up, automated delinquency monitoring
and user-definable payment knock-off
sequence are provided across product
lines. The rich set of advanced functions
that the system contains, helps banks
improve their operational efficiency
and manage risks better.
Defining the asset types
and asset sub-types, capturing full
details of the collateral asset, collateral
coverage ratio maintenance, revelation
and replacement of assets are some of
the highlights of the collateral system.
Intellect Lending integrates
easily with multiple general ledger
solutions by virtue of its configurable
and event-driven accounting. Its customizable
data feeds also facilitate integration
with existing legacy and external products.
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Receivables Management
The solution has a very
well developed delinquency management
capability. This helps manage delinquencies
efficiently through a combination of
proactive action and closer supervision.
It facilitates customer centric collection
across different products such as mortgage
loans and credit card accounts, enabling
collectors to holistically deal with
a defaulting customer.
The system has the unique
capability of providing SMS alerts to
customers with imminent loan maturity,
thereby ensuring proactive management
of potential delinquency. It also offers
a versatile review module that helps
supervisors proactively manage resource
allocation, balance loads and monitor
collector performance.
The system's intelligent
worklist organiser automatically prompts
collectors the accounts that they have
to follow up for the day based on predetermined
conditions. This not only provides collectors
with a clear customer priority list,
but also improves the collection probability
and the total amount collected.
It provides automated
tracking of delinquent customers. While
automated reminders help keep track
of customer follow-ups, the system also
aids the collection team in tracing
the history of broken promises and initiating
appropriate recovery measures.
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