TrustLOS – Loan Origination System

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Overview

Today, the Banks are having ample funds for lending BUT the biggest challenge is to find a genuine loan customer. The financial position of bank is greatly affected by turning of loans into bad loans. The inability of bank to screen out bad customers is mostly due to un-organised and non-automated loan approval process followed at the bank.

In almost all of the Banks, Lending Process (in its Banking Software) starts with Loan Account Opening. A good ‘Loan Origination System’ with end-to-end automation solution to automate the Loan Origination Process for Loan Approvals in very much need of the hour for the banks.

About TrustLOS Solution

  • Completed Browser Based, Web-Based Interface.
  • Available on SaaS (Software-as-a-Service) model as well as License Purchase (In-Premise) Model.
  • Configurable UI; Multi-lingual Interface
  • Online Real-Time tracking of Loan Applications by Bank’s Decision Makers, Bank’s Management, Bank’s Consultants, Loan Applicants
  • Supports Open-Architecture; API Based Integration with CBS.
  • Quick ROI

Key Functionality

  • Automation of Credit Department Process; Correct documentation of every loan case.
  • Online & centralized access to Core Teams with Graphical User Interface and Dashboards.
  • Calculation of Credit score for each loan application.
  • Quick responses to loan applications for approvals.
  • Uniform credit appraisal techniques and processes across all credit officers.
  • Centralised configuration of Loan Schemes And checklists of documents.
  • Scanning, storage and quick retrieval of Loan Case related documents.
  • Online role based access to external agencies like valuer, lawyer, architect for quick responses.
  • If Loans are approved with exceptions, the exceptions are documented.
  • Complete work flow of hierarchical authorisations.
  • Online Integration with CIBIL system and e-Kyc system for identifying online credit score and online KYC of the applicant.
  • Uniformity in applying of the Loan Appraisal related Charges
  • Loan Applicant can track the Loan Application Online on PC or Smartphone.
  • Standardisation of Templates for Sanction Letter, Agreements.
  • MIS, Dashboards to management for the Product wise status of loan applications.

Benefits

  • Reduced TAT (Turn Around Time) which is essential for acquiring better loan applicants
  • Reduced risk of bad loans and better recovery prospects.
  • Useful for appointing dealerships with online access for dealership to Bank's LOS system
  • Online Access to Loan Appraisal History with easy retrival of Appraisal Documents and remarks

To know more on TrustLOS features and Integration Feasibility with your CBS, please click here.