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VeriLoan’s fully integrated Retail Loan Servicing Solution supports all retail loan products in a single platform helping financial institutions to have access to developing digital tools that help to improve productivity and lower servicing costs.

Overview

VeriLoan's fully integrated Retail Loan Servicing Solution supports all retail loan products in a single platform helping financial institutions to have access to developing digital tools that help to improve productivity and lower servicing costs.

By providing rich and safe automation for retail loan servicing, VeriLoan reduces the interface through automation to improve usability, enables efficient transaction management and provides more flexibility for securitization.

The core loan servicing functions of VeriLoan include product building, restructuring, refinancing, early repayment and settlement. By streamlining servicing operations, VeriLoan also enables financial institutions to

  • Keep track of all loan transactions
  • Record them to post to general ledger
  • Have the features and functionality to stay competitive in the ever-changing marketplace.

Rule Engine

Powerful and transparent rule engine for automation of rules and policies

The rule engine module of VeriLoan allows the development and rapid deployment of complex business rules where the users are guided through the process steps and provide better access to data. The business rules which can be freely adjusted to the financial institutions' specific requirements help them to have more dynamic decision making power.

The database-oriented rule engine performing efficiently can be easily implemented in the database workflow. It helps to automate the rules, policies and compliances while preventing rule conflicts. It also ensures healthy robust validation and approval process for loan disbursals helping financial institutions to be ahead of changing regulations and fluctuating loan volumes. 

Document Management

Optimizing document management system through digitalization

VeriLoan provides full management and maintenance of loan documentation generating a list of documents with mandatory or not mandatory features depending on specified parameters such as product type, risk level and KYC policies. It helps to achieve operational efficiency by automating all business processes and workflows of retail loan servicing.

The document management feature helps to generate template-based documents needed throughout the process without time-consuming manual inputs and handle documents digitally from template automation to printing, document scanning to archiving.

Collection Management

Modern and digitized collection processes saving the cost of collection

The collection management feature of the VeriLoan Retail Loan Servicing provides convenient and safe collection by implementing security capability and data security control. It helps financial institutions to increase the collection efficiency while saving the cost of collection. VeriLoan Retail Loan Servicing,

  • Provides sophisticated and advanced digitized collection processes,
  • Streamlines the entire collection process,
  • Reduces write-offs and provisioning,
  • Improves cash-flow management,
  • Allows financial institutions to improve their customer relationships and facilitate future sales opportunities.