Our team has expertise in designing solutions for loan processing system for banks and financial organizations. The solution provided includes processing of loan application, underwriting the loan after assessing the risk, servicing of the loan, which includes arriving at the payment schedule, applying penalties for the non-payment of loans, making adjustments in payments collected, bank reconciliation, forwarding of default cases to loss mitigation and if necessary for litigations. As part of the solution, asset management solution was also provided, which was used for payment rescheduling, bill generation.

Solution provided had the following salient features:

• Web-based solution - can be accessed from anywhere by providing security credential
• Processes are maintained by workflows, overall change in a process does not have any effect on the business rules that already are defined within a process
• Task manager creates tasks for appropriate departments and their users
• Tasks are assigned based upon priorities set by management and/or work rules
• Role based security is used for accessing system features Instead of reviewing/auditing every transaction, the Task Manager and workflow provide exception based- processing wherever applicable. System is configured to present exception cases to queue.
• Live Dashboards and Reporting provide tracking at every level
• Audit trail of key activities performed during the processing, which establishes control in the overall process.