The incorporated functionality includes:

• Credit origination and application
• Flexible repayment plans
• Asset management
• Event-based document checklist
• Customer assessment and scoring
• Online real time approvals
• Configurable disbursement types
• Automated recovery of rentals/instalments
• Provision of partial rental recovery and balloon payments
• Handling of early/prematurity of contract
• Re-structuring and re-scheduling on variable rates
• Non performing loans (loan classification management) and provisioning

Credit origination and application – This feature enables the bank to enter all particulars regarding the customer ‘s requested facility type including the borrower’s basic details and generates a computer generated credit line proposal (CLP) which can be further routed for online approval.

Flexible repayment plans – Tightly coupled with the credit origination module, the system facilitates generation of repayment plans on multiple criteria for the customer. These include different repayment plan types, plans with different tenors, frequencies and many other configurable parameters. The supported types of repayment plans are:

• Deferred (diminishing balance)
• Lump sum (bullet payment)
• Staggered (as per customers cash flow)

Asset management - The module maintains complete details of all assets that are available for financing to customers including asset type, insurance details, registration details, valuation details and if required, repossession details against a particular asset can also be entered through this module.

Event-based document checklist - This feature provides system users with a pre-defined list of documentation requirements at each stage of the loan, which the customer needs to submit to the bank. The checklist can be easily configured for each stage and will vary as per as the customers type and/or legal entity.

Customer assessment and scoring - A highly configurable dynamic scoring model can be created for customer scoring where relevant customer information (name, age, dependants, financials, etc) can be entered and is evaluated. The module automatically calculates the customer’s score based upon the inputted customer information which can be referred to by the approval authority.

Online real time approvals - The system enables the bank to define and configure their approval workflow for credit line proposals based upon certain parameters e.g. loan size, facility type, branch wise, and region wise. Relevant approval committees with defined discretionary powers can be setup in the module to create a complete online and real time approval process.

Configurable disbursement types - All kind of disbursements e.g. one-time, partial, stage-based and open disbursements can be handled through the disbursement module.

Payment recoveries - The module is designed to handle all automated as well as counter re-payments from the customer. All instalment/rental recoveries are automatically handled through the module with direct debit instructions or PDCs. Additionally all types of counter payments and their relevant processing are also catered through this module including:

• Installment/rental payments
• Partial payments
• Balloon payments
• Partial termination
• Early termination
• Settlement
• Overdue charges

Re-structuring and rescheduling - Any requirement for re-structuring/rescheduling rose by the customer or through any system generated transaction is handled through this module. The system handles the following re-structuring types:

• Variable rate (KIBOR)
• Change in tenor
• Balloon payments
• Partial termination

NPL and loan classification - Enables the bank to define different classification criteria as per regulatory authority’s requirements or for their internal reviews. Loans will be automatically assessed as per the defined rules and will be marked with relevant classification type. Furthermore the respective accounting treatment for all stages of classification and subsequent provisioning will also be automatically handled and can be configured using this module.