LoanApp Micro & SME

Ingenio LoanApp Micro & SME is an application for automating retail lending for Micro companies and Small and Medium Sized Enterprises. Ingenio Software has developed this software application for streamlining the flow of approving/rejecting loan applications, minimizing the time needed for an application analysis and focusing on eliminating additional expenses.

The Ingenio integrated software solution for processing micro and SME loans includes:

• Front-end interface
• Credit process mapping
• Highly administrable features (workflows, screens available for each role, fields available for each type of client, product, guarantee etc., organization structure, products’ characteristics etc.)
• Control of approval authorities
• Automated calculations of scoring and credit rules or integration with scoring modules
• Documents and forms generation
• Online interfacing with core banking and other systems (authentication solutions, scoring software)
• Audit on changes
• Reporting module (custom-made or specialized tools such as Jasper reports)

The application manages the flows for loan granting for further client categories, respectively Sole Traders and Micro clients.
A completely editable scorecard (criteria, score, and acceptance thresholds) is associated with each industry. The credit applications must fulfill a series of eligibility criteria and, for each facility specified in the application, a score is calculated based on the associated scorecard. Also, all the necessary data may be sent via web services to external scoring modules for obtaining an automated score or decision.

Based on the obtained score, the application is accepted, rejected or sent to the main unit for supplementary analysis (if the obtained score is between the two limits: accept-reject, the decision will be made manually by a user). The time needed for an application analysis is significantly decreased, thus saving resources through the automation of the process.

LoanApp Micro & SME Advantages

• Increases productivity, both in credit-related decision-making and in the entire lending process
• Ensures consistency for the decisional process in the crediting activity
• Streamlines the loan-granting flow
• Decreases the work time needed for analyzing an application and eliminates additional costs
• Provides a system for monitoring scorecards, in order to help appreciate their efficiency, develop new versions or improve existing models.

Using the LoanApp Micro & SME application leads to important resource savings and improvements in the process of granting credits for micro companies and Small and Medium Sized Enterprises.

Credit process and approval

The credit process is briefly designed along a simple hierarchical approach. Two major workflows are implemented: one for Sole Traders, Micro and Small SMEs – with automated decision and scoring, as these are considered retail loans and one for SMEs – with human decision and analysis, since a larger activity is not easily standardized for applying a general scorecard.

Configurable functionalities

For each product, it is possible to customize the different interests and fees that are necessary.

The Documents Generator Module:

• Provides different types of documents for different types of retail loans, clients, and associated guarantees.
• Allows the dynamic extraction of the needed information from the database
• Provides quick defining of document shape and content
• Offers multiple and flexible options of implementation, personalized according to the user’s preferences
• Enables the efficient management of documents
• Facilitates operating changes on standard documents
• Offers the possibility to view the changes made to documents during a given period of time

Calculation engine

The purpose of a calculation module is to create a high autonomy from the frequent changes that appear in the banking environment. This calculation engine processes all the data input in a loan request, and performs all the necessary calculations in order to receive a complete and accurate answer (resolution) for the client.

Audit and Reporting

The audit module saves any operation performed by a user in the database. Any modification the user has done to the records is stored distinctively, so that it is possible to see what the initial information was before being modified. The application records the time and the user who made the changes.
The reporting module provides precise management information related to sales activity. It creates the possibility to retrieve any piece of information stored in the database. The Report Generator uses SQL SELECT clauses, and allows creating and saving reports which can be accessed at any time later to extract information from the database. Any report created can be assigned to appropriate users, in the User Administration module. Also, integration with Jasper reports is available, so that the bank users may implement their own necessary queries.