pennApps Lending Factory… propel your Lending portfolio to greater heights…

  • Increasing globalization with the rising needs of retail banking services and products necessitating financial institutions always finely “tuned-in” to current market conditions to remain both customer-centric and profitable. Financial Institutions must be able to continually deliver innovative products and services exploring and leveraging technological advancements that offer operational efficiencies, true time-to-market advantage, and improve customers’ banking experience, whilst minimizing costs to establish and reinforce their competitive edge in the industry.

    pennApps Lending Factory is a full suite of comprehensive enterprise lending management solution, modular in nature and provides financial institutions with the capability of complete loan management system to effectively streamline the loan processing from lead to post-close, offers the perfect combination of intelligent processing automation, designed and built on agile next-generation, sophisticated technology architecture.

    pennApps Lending Factory Loan Management: A new approach 

    pennApps Lending factory (PLF) is the comprehensive and complete lending platform addresses conventional lending requirements as well as more specialized areas such as Islamic Finance.

    PLF is built on Pennant’s next-generation Application Framework (PAF) with a unique concept of functional factories and business process driven execution engines to deliver the required modularity, flexibility and componentization. Entire loan management is centered and driven by the client defined business processes executing the appropriate functional factory component by the execution engine at the various stages of the workflow as defined.

    Feature rich functionality enables clients to effectively service and manage the lending covering product definition, loan origination process, Credit processing,  approval, disbursements and after sale transactions  utilizing the highly configurable Fee & Charges and bank definable accounting factories.

    Functional factories are independent application modules powered by the rule builders and query builders offering high-level of flexibility to clients to define multitude of products, eligibility checks, scoring models, dedupe rules, fee and charges, accounting sets as per business and regulatory/compliance requirements. In addition a separate set of functional factories are made available to define multitude of checklist items and agreements and contracts to assist the frontline users in processing the requests.

    PLF’s highly flexible business process editor enables clients to define the business processes mapping appropriate functional factory component at the required stage of the workflow. Execution engines ensure the execution of the defined functional factory component at each stage of the workflow to achieve the required result.

  • PLF’s highly flexible business process editor enables clients to define the business processes mapping appropriate functional factory component at the required stage of the workflow. Execution engines ensure the execution of the defined functional factory component at each stage of the workflow to achieve the required result.

    The core features of the Lending Factory includes:

    Product Definition
    Define flexible products for bank needs
    Configure Pricing and Rates
    Define Controls for management

    Comprehensive Rules
    Innovative Configurable Business Rules
    Flexible Eligibility Checks

    Customer Acquisition
    Easy Customer Data Capture
    Duplication Checks
    Workflow based Approvals
    What If Calculations
    Customer Documents Generation
    Dashboard for monitoring TAT

    Flexible Accounting
    Configurable Accounting
    Formula based Accounting Entries
    Event based postings to Accounts

    Integration
    Multi Channel Servicing
    SOA Based Integration
    Wide Range Notification

    Total Risk Control
    Rules Based Scoring
    Credit Bureau Integration Feasibility
    Configurable Dedupe Fields
    Black Listing and Negative Checking

    Intelligent Lending Management
    Retail and Corporate
    Fixed, Floating and Term
    Complete Loan Life Cycle Management
    Multiple Disbursements
    Easy Profit Rate Management
    System Driven Settlements
    Transparent Profit Calculation
    Customer Driven Billing Cycles
    Daily Accrual
    Flexible Rule based Fee Management
    Penalty Management
    Delinquency Management

    Flexible Reports
    Dashboards
    Drilldown Reports
    Alerts and Escalations
    Documented Data model

     

  • Business Process Driven Execution Engines
    Novel concept of business process driven execution engines with multitude of functional factories at its disposal allows you to define, deploy and manage the business processes without any dependence on vendor. Business users can set up processes across channels, users, departments and products with minimal IT support and with the requisite controls and history tracking to safely implement changes.

    Accelerate Time to Market – Product Packaging
    Offer Innovative Products with true time-to-market advantage: With the versatile and flexible factory configuration concept and features that PLF offers, your creativity meets the reality for any new product planning or packaging. Lending factory enables you to offer innovative and customized products to meet market demands.

    Improved Operational Efficiencies
    Streamline Business Process: Business process centricity enables you to define, review and improve your process by reconfiguring the workflows as and when desired, effectively utilizing the numerous functional factories and execution engines available in the solution, thereby streamlining your operations and ensures better visibility and transparency of the process.

    Comprehensive Reporting & Dashboards
    Various management or operational reports and interactive dashboards assists you in monitoring the turnaround statistics of all the stages of Loan servicing and provides insights on the root causes of any delays enabling you to respond in timely manner.

    Complete Automation
    End-to-end Business process automation right from data capture to credit processing, approval to disbursal with built-in validations including functionalities like dedupe and blacklist will enable your team to achieve higher level of productivity.

    Improved risk management and risk assessment
    Know your Customer and portfolio: Lending factory enables you to define additional customer details as functional factories and link these to the business process at the required stage of the Lending processing to capture any additional information business demands.

    Policy Checks: PLF enables you to define multiple policies with minimum/ mandatory/ exceptions/ review gateways in various PLF factories and plug-in to workflow process as per your requirements.

    In addition, Checklists functional factory available as part of the PLF enables you to define numerous checklists to meet the internal compliance or risk management requirements. Capability of linking these checklists at various stages of the Lending servicing assists your frontline or processing team to comply with the process requirements.

    Configurable Lending Management
    Fee, Charges and Accounting: Accounting for various Lending servicing events are fully configurable as per your internal and regulatory requirement with no limit to the accounting options.

    Flexible factory concept enables you to define separate functional factories for Fee & Charges in relation to Overdue payment, Early payment, Early settlement, etc., in terms of days/ amount slabs. This can be configured based on the customer and Lending categories like customer type, nationality, past history etc., to define the fee & charges.

    Accounting sets can be defined in the accounting factory for all of the servicing events whether it be disbursal or after sale transactions which gets triggered by the execution engine as defined in the respective process.

    In simple terms you can incorporate rules by one or combination of any characteristics with simple arithmetic formulae.