Learn more about loan origination

Citeck EcoS Loan Origination

Advanced repayment of credit

Advanced repayment of credit- is one the most commonly used business process in lending. Process automation will help bank officers to decrease time spending of preparation and conduct approvement and operations connected with this process.

The Citeck EcoS advanced repayment of credit consists of two processes:

  1. Full advanced repayment of credit
  2. Partial advanced repayment of credit

Processes scheme

Full advanced repayment

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This process contains several basic steps: depositing funds by borrower into account, writing an application for advanced repayment of the credit, registration and sending of application and deposit order to resolution, approvement and check of documents by bank officers. As a result, if the sum on the account is sufficient  and all the documents are correct, the borrower’s credit gets an extinguished status.

Partial advanced repayment

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The process of partial advanced repayment of credit has some differences in the home stretch. The new payment schedule will be formed after depositing a part of amount and approval with all responsible members. After that it’ll be approved by a head officer (or other bank officer) and copy will be returned to the borrower. All changes according sum and documents are entered in the client card.

Functionality:

Access to all application documents in a single window

All application documents are displayed in a single window. At this stage the bank officer at any time, without any effort can find necessary documents. Also, all the information about the borrower, the history of the event, the stages of the application review and decision-makers are available on a separate tab.

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Verification of  obligation of the required documents

In the Citeck Ecos the  protection is implemented that will not allow the process move to the next stage until all the necessary documents will be loaded. Required documents for this stage are highlighted in red in the “Documents” tab. You can use drag’n’drop to uploaded it.

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Automatic creation of the case documents by templates.

There are many templates in the system for various standard documents. Therefore, it helps to decrease an errors risk while filling documents and to normalize document flow. If necessary, the templates can be easily modified.

The ability to create applications for the advanced repayment of the credit from the application case in the «active credit» status

You can directly create an application on advanced repayment from an application with the status “Active credit”.

Autofill of the borrower data during creation of the application for repayment of the credit.

When you create an application for advanced repayment, the borrower and loan details are filled in automatically using predefined templates. It allows you to avoid errors and increase the speed of processing of the loan.

Easily customizable process of coordination and approval with predefined certain persons.

The process of application approvement is usually determined in advance. But it can be easily changed if necessary. The system administrator are able to do it without involving programmers and developing of the new routes.

Integration with ABS and other information bank systems

Citeck EcoS can be integrated with ABS and other banking and external systems, such as CRB, FICO.