Loan Origination
Streamline your lending process from initial application to swift disbursement with eBanqr’s advanced Loan Origination module. Designed for efficiency and accuracy, this module empowers your institution to process more loans, faster, while maintaining stringent credit risk assessments. Say goodbye to manual paperwork and hello to a fully digitized, automated, and intelligent origination workflow.
Accelerate Lending with eBanqr Loan Origination
Benefits:
- Reduced processing time, leading to faster loan disbursements.
- Improved accuracy and reduced human error.
- Enhanced compliance with automated checks.
- Better customer experience with quick decision-making.
- Increased operational efficiency and loan volume capacity.
Loan Origination Features
- Configurable Loan Products: Supports a wide array of customizable loan products (e.g., SME, Agricultural, Personal, Bullet Loans) with options for amortization, interest rate methods (flat, declining balance), interest calculation periods, payment application logic, grace periods, and product mix rules.
- Comprehensive Loan Application Process:
- Detailed Data Collection: Requires loan purpose, personal information (residence, employment, income), and nearest relative contact.
- Documentation: Allows update of various document related to the loan application.
- Guarantor Management: Allows for guarantors if income is insufficient; guarantors may be existing clients or individuals, whose relevant data can be captured.
- Individual and Group Loan Features:
- A loan account can be owned by a single client or a group.
- Group Loan Account: A single loan account shared by all group members, who are jointly responsible for repayment. The financial institution treats the group as a single entity.
- JLG (Joint Liability Group) Loan Account: Belongs to an individual client who is part of a group. The individual is primarily responsible, but the group guarantees the loan.
- Bulk JLG Loan Account: Allows applying a JLG loan to multiple clients within a group simultaneously, functioning like a JLG loan at the client level.
- eBanqr supports the creation of group loan accounts and processing bulk JLG loan applications.
- Structured Loan Processing Procedure: Follows a workflow including reviewing applications, accessing client accounts, initiating new loans, verifying information, assigning loan officers, uploading documentation (application packet, approval worksheet), and notifying the loan officer for review and approval.
- Integrated Credit Scoring: Provides tools to track client behaviours and score credit based on organizational criteria.
- Internal Models: Allows use of integrated credit scoring that comes out of the box.
- External Integration: Seamlessly integrates with external machine-learning and algorithm-based credit analysis engines via web hooks and APIs.
- Hybrid Model Advantage: Offers flexibility to start with simpler internal models and integrate with advanced external solutions as needs evolve, optimizing risk assessment and expanding credit access.
- Portfolio Quality: Comprehensive application data collection (income, employment, debt, KYC) enables thorough assessment of financial health and repayment capacity, mitigating potential defaults and ensuring portfolio quality from inception.
- Secure Loan Approval Workflows:
- Lifecycle Statuses: Loan accounts progress through Pending Approval, Approved, and Active statuses, with specific actions triggering transitions.
- Granular Permissions: Implements role-based permissions, grouping action-related permissions into roles assigned to specific users.
- Maker/Checker (4 Eyes Principle): Requires a second verification for critical operations to enhance internal control and reduce errors or fraud.
- Bulk Processing: Supports bulk loan approval and disbursement, and bulk client creation, approval, and disbursement via a task inbox.