Intellect leasing solution is an end to end leasing lifecycle management system that caters to Finance Lease, Operating Lease and Rental options through its flexible parameter definition. It services all the lease lifecycle events including asset procurement, supplier management, rental schedule, residual value, VAT management, leasing maintenance and lease accounting.



 

Our View
LEASE FINANCING IS INCREASINGLY VIEWED AS AN IMPORTANT FINANCING TOOL FOR BANK TO LEVERAGE ASSETS

IFRB prescribes regulatory requirements for Finance lease & Operating lease

Leasing is an important financial product and most of the banks are approaching the same to enhance their market share especially in auto finance and equipment funding. IFRS prescribes regulatory requirements for two major leasing products – Finance lease & Operating lease – that govern every bank that adopts IFRS standards.


Our Offerings
EASILY ADAPTABLE SYSTEM THAT SUPPORTS ALL VARIANTS OF VEHICLE & EQUIPMENT LEASING IN PARALLEL WITH CONVENTIONAL LOANS

Leasing solution has rich functionality around business product setup, flexible repayment options, multiple repayments modes, rescheduling, pre-closures and delinquency tracking processing. It also has a multi-lingual and multi-currency capability and supports multiple delivery channels. Leasing solution can coexist in the same system along with conventional loans with an option to create the product as lease or loan.

Multi lingual, multi currency, multi channel support

Key Features

  • Finance lease
    • Lease rental calculations with principal & interest breakup
    • Residual value calculations on lease rentals at the end of the tenor
    • VAT calculation and periodical Lease maintenance charges
    • Finance asset management
    • Income recognition as per IAS
    • Lease extension or sale of asset to customer

 

  • Operating Lease
    • Asset procurement and supplier management
    • Capitalization of incidental charges and insurance
    • Disbursal to supplier
    • Lease rentals calculation for operating lease
    • Asset depreciation based on straight line method & written down value
    • Recognition of lease rentals as income as per IAS
    • Re-lease to a different customer


Our References
PROVEN EXPERTISE SPEAKS FOR ITSELF


Our Approach
PARTNERING FROM THE BEGINNING TO THE END – AND BEYOND

iGCB believes in complete partnership, not just in being another 'vendor'

At iGCB we believe in complete partnership, not just in being another ‘vendor’. We will engage with you during the creation of the product for your line of business with the system to ensure quick ‘go to market’ strategy and provide effective and efficient workarounds for your unique functionalities / processes.

Our expert teams will also help in defining your ‘go-to’ process through pre-configured designed products. In addition to this, we provide you with near real-time scenarios to run the Business scenario simulation.

Our experts also elucidate how to bundle the multiple business products with existing re-usable components.

  • We walk you through the standard process of lease product creation and the process flow of finance & operating lease
  • Provide effective and efficient workarounds for your unique functionalities / leasing process
  • Identify the interface touch points required for all your legacy products (core banking & GL)  and explain how leasing solution will be interfaced with all your existing products
  • Provide you with near real time scenarios to run the Business scenario simulation

We aid quick implementation of the system in approximately 24 weeks:

Lending Arc


Our Technology
FULLY SCALABLE, ROBUST, SOA-COMPLIANT PLATFORM

The Intellect full-spectrum banking suite is built on Java, J2EE standards and is built from ground-up to be highly scalable, reliant with high-performance throughput with the ability to process up to 100 million transactions per day.

THE ARCHITECTURE OF LENDING ADHERES STRICTLY TO SERVICE ORIENTED ARCHITECTURE

Having been built on open standards, the products within the Intellect suite are application-server and operating-system agnostic and are capable of being deployed in both on-premise as well as hosted-modes, giving customers high-degree of flexibility while driving down TCO.

The Intellect suite is SOA-compliant and incorporates robust service-enablement and powerful integration layers, with ready-made interface cartridges supporting several well-known backend product processors.

Digital is the way forward for banks and financial services organizations. In fact, Digital encompasses everything of all types of banking. To enable them leverage digital, Intellect's design philosophy, a key differentiator in developing solutions for the transformative agendas of CXOs, ensures a dramatic shift from disjointed digital activities to strategically aligned digital outcomes. The full spectrum advanced intellect suite of products is built on iDigital, which delivers a uniquely comprehensive digital platform to financial institutions.