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The future-ready lending platform built on Dynamics 365 empowers financial institutions to offer various loan products in retail, SME and corporate segments across digital channels.

Digital Lending Solution Overview

VeriPark's digital lending solution enables financial institutions to streamline lending and offer their customers the convenience of self-service digital loan experiences. Aimed at making loan origination simple, the solution turns lending into a quick, painless process and helps to sustain customer-centric digital experiences at scale. It replaces traditional loan processes with dynamic loan application flows and increases customer conversion rates.

With a unified, flexible and efficient approach, the solution makes it possible to manage retail, commercial and corporate lending journeys across various internal and external stakeholders. The future-ready lending platform built on Dynamics 365 empowers financial institutions to offer various loan products in retail, SME and corporate segments across digital channels. Covering everything from pre-screening, onboarding, underwriting to disbursement, the solution automates the entire digital lending flow from start to finish.

6 Steps to a Seamless Digital Lending Process

​Step 1: Loan Origination

  • Using Loan Calculator to select the amount and duration of the loan to instantly find out the monthly installment amount
  • Pre-approved offers for simple, hassle-free and fast loan applications
  • Ensuring a personalized customer journey with Next Best Offer

Step 2: Application and Data Capturing

  • Online application: offering a fully-digital, customer-driven lending experience
  • Customer identification: complying with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations
  • Document checklist: handling large volumes of loan documents swiftly and accurately with Optical Character Recognition (OCR) technology
  • Digital verification for proof of customer (income and repayment capability)

 

​Step 3: Loan Processing

  • Using Microsoft 365 capabilities to define a list of pre-approved automated loan checks
  • Swift decision-making processes to facilitate pre-approved offers and instant loan approvals
  • Connecting to multiple credit checking organizations
Step 4: Underwriting
  • Integrating eligibility calculator to reduce acquisition costs
  • Approval in principle for customers with limited data

 

​Step 5: Loan Approval

  • Digitizing confirmation process to onboard the new customer
  • Robust decisioning engine for fast decisions and instant disbursement
Step 6: Disbursement
  • Simplifying loan applications with digital signature workflow
  • Handling documents digitally from template automation to printing, document scanning to archiving 
  • Cross collateralization where borrowers use one asset to back up multiple loans*
  • Connecting contracts post signature to API's and existing systems through clause templates*

*Applicable for commercial and corporate loans, ranging from construction loans to asset finance, real estate loans to term and operating loans.

Key Features

  • Straight-through loan processing — from data capture to final closing Loan origination dashboard to follow up on applications per product, review the loan applications in progress and get a view of the application pipeline and filter applications by source
  • Feeding customer data into the bank's CRM system - such as Microsoft Dynamics 365
  • Digital customer onboarding
  • Document capturing
  • Performing OCR to parse document content such as ID or Passport
  • E-signature integration with DocuSign
  • Easy document generation
  • Automated workflows and STPs
  • Rule-engine based product policy
  • Channel migration capability between in-branch and mobile

Key Benefits for Financial Institutions

  • Reduced errors, shorter time scales, greater decision-making consistency
  • Reduced cost of customer acquisition and cost of servicing
  • Less churn, increased satisfaction, higher retention
  • Mitigated risk & enhanced decisioning
  • Providing simplified lending and improving the retail, commercial and corporate loan experience
  • Offering the convenience of applying for a loan with minimal manual inputs
  • Reassigning employees to higher-value work
  • Accelerated speed to market

Key Benefits for Retail, SME and Corporate Customers

  • A smoother, less stressful digital loan origination journey
  • The convenience of being able to apply with minimal manual inputs
  • Ability to provide and sign documents digitally at any time, from any device
  • Faster loan decisioning
  • Simplified borrowing experience
  • Improved satisfaction