Overview

ITS Loan Origination is the front-end system for conventional loans creation and servicing. The Loan Origination solution is the outcome of years of collaborative effort and experience in the field of financing for banks and financial institution. ITS’ knowledge in this field has produced a solution with best practices in mind; this is in addition to flexibility, ease of use and adaptability. ITS also concentrates on providing high level of user parameterization to cover the financing requirements across various geographical regions and allows organizations who use it to innovate and focus on creating new products and services and bring them to market very quickly.

Loan Origination Module is dynamic enough to support many products such as:

• Retail Loans
• Corporate Loans
• Vehicle Loans
• Personal Loans (Cash Loans)
• Real Estate Loans
• Mortgage Loans
• Credit Cards (Next Release)
• Commercial Discounted Bills (Next Release)

Feature Options

• Define and modify business product information
• Define and modify financing terms and conditions of the product
• Define and modify non-financial terms and conditions of the product such as target clients, financing item, currency, launch date, expiry date, etc.
• Define a suitable financing model(s) for the product
• Supports pricing the financing products i.e. profit matrix and core banking rate handling
• Define default values for interest details and payment schedules. These will be inherited on the Deal creation to automate the payments details with override options
• Define more than one schedule template on the same product
• Option to inherit core banking class options and to be inherited on the deal level with override options
• Define mapping between the loan origination system and the Core banking
• Late fee margin to be provided with provision to default to class defined late fee charge in phoenix. Late fee is defined as a percentage over the current interest rate
• Define the following information on product level
  • Finance attributes (Term, period, frequency, etc.)
  • Line of business to be attached to this product
  • Client type Information (Retail, consumer, cooperate, age, gender, etc.)
  • Branches that will adopt this product
  • Grace period terms and conditions
  • Product priority definition
  • Product type definition (Iskan loan, School loan, etc.)
  • List of loan payments types allowed to be used by the product (level, interest, principle, etc.)

Asset type definition

Purpose
The purpose of this feature is to enable the bank or the financing company to define the asset types that will be attached to the business modes and products that will be produced.

Feature Options

• Define and modify asset type information
• The definition will be in form of a tree hierarchy
• Define the asset measurements units to be linked with each asst category

Services Procurement

• Service provider information management
• Deal services information
• Services payment
• Vendor information management
• Insurance company information management

Financial Tools

• What-if-Analysis
• Credit Scoring