Intellect Origination system is an evolved credit appraisal solution for the Retail Loan Origination. It supports the entire Origination process life cycle, end to end starting from application initiation all the way down to the disbursal initiation. It is an integrated, parameterized and rule-based system that supports Straight Through Processing (STP).
IMPERATIVE NEED TO MAXIMIZE OPERATIONAL EFFICIENCY AND AUTOMATE RISK MANAGEMENT PROCEDURES
Retail Origination is a fiercely competitive business. Customers need, not just innovative products, but instant approvals as well. They have channel preferences. Regulators with their superior technology, are reacting faster than ever. They are constantly updating and bringing in changes for the financial good health of the economy.
Banks need to respond to these challenges with speed and prudence. Their systems have to be completely scalable to meet the innovations and the volumes.
On the other side, Underwriters perceptions are not uniform across the Origination organization. They have varying experience and expertise calling for standardizing the approach to Origination process.
As a result, banks are increasingly in need of configurable and robust Loan Origination. To ensure credit decisions are uniform across individuals and the organization, the system should balance all aspects including policies, scorecards and insights for the decision.
In Retail Lending one of the ways to reduce the processing time is to support Straight Through Processing (STP) by automating the credit decision process and interfacing with the Core Banking System for the disbursements. The system therefore must have a robust Rules Engine to support this riding on a configurable workflow Engine.
FASTER CREDIT DECISIONING, IMPROVED PRODUCTIVITY, HIGHER VOLUMES
Intellect Origination system has at its core a Workflow component, a Business Rules engine, Application Processing component, Customer Communication module, and an Imaging and Document Collection and Tracking component. Besides, there is also an Integrator for interfacing solution and a proprietary robust security kernel called Intellect Armor for security and entitlements.
The flexibility provided in the design helps the bank modify process and also introduce new products to take on competition.
- Enables quick launch of products
- Powers consistent customer communication
- Enables fast and reliable decisions from insightful information from 360-degree view of the application
- Supports Straight through processing
- Supports exception handling
- Helps to create and modify workflow to reduce turnaround time
- Helps set up score cards for various customer segments
- Identifies process bottle necks from monitoring turnaround time
- A configurable solution that helps banks lend with speed and prudence at the same time
- GUI based workflow allowing business to define their own process flows
- Configurable Business Rules Engine to set up policies and score card
PROVEN EXPERTISE SPEAKS FOR ITSELF
Intellect Retail Origination is being used by the bank across Retail Loan products. The bank is now able to provide approvals to customers in record time. The solution was delivered to the bank in less than 22 weeks replete with interfaces with the Loan Management System, Credit Card System and the country’s credit bureau.
The bank uses our Origination solution for Retail Loans and Credit Card. The solution went live in the bank less than 21 weeks.
PARTNERING FROM THE BEGINNING TO THE END – AND BEYOND
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 aid quick implementation of the system in approximately 24 weeks.
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.
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.
Intellect Origination was profiled amongst 15 Global Best Vendors in CEB Tower Group Report ‘The lending evolution: Preparing for the sustainable consumer lending growth’
Loan Origination & Debt Management