© 2019 by NLS Banking Solutions

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Credit Management Solution

(Tera CMS)

The TeraCMS is a credit management solution, an innovative enterprise solution specially designed to address and support the loan processing needs of financial institutions. The solution employs a detailed workflow technology to control and monitor the various work steps employed during loan processing thereby reducing the delays and inefficiencies in handling paper documents.

The solution provides an end to end approach to loan origination, with a holistic approach during the entire loan life cycle. It provides a structured work flow and supports multiple loan products with different origination channels. The solution easily integrates with other existing systems and offers a robust credit scoring engine and archiving for various loan application related documents.

Solution consist of the following Modules:

  • Lead management

  • Loan origination

  • Disbursement

  • Collateral Management

  • Collection

  • Defaulter Reporting

  • Alerts & Notifications

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Features

Supported Loan Products

The Tera CMS allows easy addition of new loan products to existing portfolio. A financial institution can quickly customize a new loan product in order to create a competitive advantage. A new loan product can be defined by specifying the following customizable parameters:

  • Loan types and default constraints

  • Score card

  • Lending authority list

  • Supporting documents checklist

  • Compliance checklist

  • Disbursement checklist

  • Workflow driven

 

This is the most essential feature of the Tera CMS. The solution allows monitoring of each loan application, from the time it is entered into the system, and tracked through the various work steps of credit review and approval process. Tera CMS allows these work steps to be performed in different locations while maintaining control of the flow and making sure that no steps are missed.

Typical work steps in the application work flow include:

  • Application origination

  • Duplication Check and watch list check

  • Credit Scoring

  • Internal credit check/Financial assessment

  • External credit check/Risk assessment

  • Application review

  • Management Approval

  • Offer letter generation and printing/sending

  • Credit Scoring

 

The Tera CMS uses a robust credit scoring engine that automatically calculates the score of an application based on the information entered and the score card used. Score card parameters can easily be changed with the built-in score card maintenance interface. Multiple score cards for different loan types are supported in the system.

  •  Letters and Forms Management

Letters and forms are automatically generated in the system upon completion of certain task, e.g. loan approved or rejected. The solution integrates application data with pre-defined letter templates to automatically generate the letter. Letter templates can be prepared and easily changed in common word processors. Tera CMS forms help improve quality by reducing errors and better control by use of validation.

  • Common Tables and Parameters

Tera CMS provides flexibility through a set of user-defined tables and parameters. Frequently changed variables are centrally kept in common tables and can only be modified by authorized users, thus ensuring control and enhancing security.

 

  • Internal Credit Checking

The solution is designed to interface to the bank’s internal system thereby facilitating retrieval of existing customers’ information e.g. customer information file, credit card, loans system etc. When a user calls up the registration module and fills in the applicant’s details, the Tera CMS retrieves the customer information from the back-end system, if the applicant is an existing bank customer, and then populates this on the screen immediately. Information updated can also be uploaded to the back-end system.

  • Simple Application Status Enquiry

Tera CMS provides an integrated search criteria interface that allows users to make application enquiries. Using this feature, the solution provides information on which work step the application is pending at the moment, e.g. waiting for certain supporting document or waiting for loan approval.

In addition, the solution provides a work history and audit trail associated with each application. All the activities done on the application starting from when an application first enters the workflow until the end of processing are recorded thereby increasing transparency and accountability of the system.

  • Latest Technology

The System allows implementation of new business solutions faster by employing the latest software development approach of 3-tier architecture i.e. the graphical presentation, the application logic with the workflow engine and the database functions, all of which can separately run on different machines. The solution is Java based and works with any relational database management system which is JDBC compatible.​

  • Third party Integration

Tera CMS  can easily be integrated with other third party applications for purposes such as credit rating and fraud analysis e.g. integration with CRB applications to get credit negative check. It easily integrates with other applications by synching the data from those applications and reusing it.

  • Comprehensive Reporting

Tera CMS provides a set of comprehensive reports such as loan progress reports, workflow statistics reports etc. In addition, the Tera CMS allows users a filter functionality that allows them to create reports that meet their own unique requirements. The solution can also work with third-party report writer tools to provide end-user definable reporting.

Tera CMS Business Benefits for Financial Institution

  • Lower costs, improved efficiency and productivity

Besides the inherent advantages directly derived by implementing the solution, Tera CMS delivers improved self-service tools for financial management by directly empowering the users and enabling efficient utilization of bank resources. The detailed workflows ensure instant approvals and reduced turnaround times. The solution’s flexible, future-ready architecture assures seamless integration with different back-end hosts, so your bank invests in reduced integration, testing and deployment effort.

  • Reduced time to market and total cost of ownership

The solution covers essential loan origination services and ensures your bank launches the same, with minimal upfront investment in time, effort, and resources. Shorter time to market is guaranteed through a flexible architecture that facilitates growth and changing market dynamics through easily customizable products and seamless integration with multiple host systems.

  • Differentiation and Competitive Presence

In response to changing business practices and strategies, it is inevitable that banks and financial institutions adapt automated loan origination systems in order to streamline their lending processes. The System allows financial institutions to establish a competitive presence, while extending convenience of their financial services. This is achieved through:

  • increased loyalty with existing client base while enabling retention and attraction of profitable customers

  • Scalable design that accommodates any future expansions and product addition or customization.

What’s more, the solution is ubiquitous across platforms and easily integrates with 3rd party applications thereby leveraging an organization’s competitive edge.

  • Increased customer satisfaction

Today, financial institutions continue to adapt new and flexible business models that increase customers’ levels through transparency and instantaneous provision of information and services. Tera CMS enhances this through faster loan processing and thereby rapid response to client requests.

Solution General Benefits

The System provides a crucial bridge between providing an automated workflow for capturing and processing the customer’s loan application. It offers a variety of benefits such as:

  • Centralized loan processing – by providing a single origination system for all loan products thereby allowing the bank to maintain all the loan application data in a single location.

  • In- built document management system – for capturing and maintaining the list of documents required for processing loans.

  • Cost- effectiveness – Tera CMS has an agile infrastructure that can easily grow and change in response to market forces.

  • Reduced Risk- through enforcement of credit terms and conditions. This is further enhanced through elimination of inconsistent and redundant information as well elimination of disparate systems.

  • Consolidation – Tera CMS reduces the need for multiple processes and interfaces and also reduced staffing requirements as fewer systems need to be managed.

  • Competitive advantage – An automated credit management system enhances a bank’s competitive advantage by facilitating development of easily customizable loan products hence allowing rapid response to market dynamics.

  • Security- Tera Platform provides authentication services with different access levels to data in order to protect sensitive data. This is further enhanced through full log of user activities and audit trails.

  • Customization – The solution is easily customizable into process flows that meet the specific requirements of the bank. This way, it offers many advantages over standard, off-the-shelf software as it can be tailored to fit in exactly with the bank’s requirements.

  • Ease of use – The customized solution is built based on the user inputs and current processes. There would hence be no requirement to change any processes not required by the Bank. As a result, users would need very little time to familiarize themselves with the solution.