The Loan Module leads the activity flow after the Application Processing Module, by automatically loading loan application details and supporting the process of loan approval and disbursement through the entire repayment period.
Loans can be directly prepared and activated from the loan form, after which transactions are automatically posted in General Ledger and matched on predefined posting schemes, accordingly when the repayment process starts and payments from borrowers arrive, they are automatically tracked in the repayment plan and matched on corresponding accounts in the General Ledger.
The entire loan documentation can be predefined and categorized to follow the loan process flow and client business needs, generated from the system and allowing the borrower to receive a printable copy.
Integral part of the loan process is the Action List which automatically logs the time between every activity, status changes, also works as a Blog System for leaving comments and keeps track of the entire communication per loan, such as tasks, exchanged messages, loan’s legal activities, and other written and verbal communication, easily accessible from one location. This module supports performance of advanced operations with which the repayment plans can be modified, in order to align loan’s repayment plans with borrower’s possibilities for repayment and to provide options for restructuring loan agreements, early maturity, early restructuring, write-off and rollback on agreements activation, payments received and disbursed as well as matured installments.
Richer Loan Lifecycle Experience Fast adaptation to changes is what makes companies successful and that is why it is important to be able to modify loan conditions, in order to align with borrower’s abilities for repayment, by using the advanced operations to write-off matured amounts, mature payments and repay a loan earlier than planned.
Loan Process Control Keep complete control over your loan process and gather minimum mandatory borrower’s documentation and data for analysis on the beginning and flexibly add additional information, on the go through the loan process flow.
Effective creditworthiness analysis Ensure that borrower and loan performance are always in line with the initially made assessments, by repeatedly evaluating their creditworthiness even on loan level during loan life cycle and be able to compare results received on loan application level. By tracking borrowers more closely you can easily respond to changes that affect the repayment process.