Current process:
The document collection process is manual in nature and messages are generated from Loan IQ using tickler functionality and sent to internal contacts to submit the required Loan documents. At times these messages are ignored or missed and documents are reported as past due.
Proposed process:
Along with the above messages A secured hyper link to be sent to both internal and external contacts to upload the requested documents. If there is no change in the document requirement between two periods, an option to be created to confirm if current document itself is suffice. Upon receipt of any document using secured hyper link, Loan IQ Document tracking status to be updated with a new status ‘Document received and pending for review’ using Finastra APIs for sanity check. A workflow to be defined in Loan IQ for both internal and external contacts with appropriate escalation matrix for past due document follow-up - a. Internal Contact: Use user profile contact information b. External Contact: while adding the contact, define the purpose as ‘Escalation point of contact’. The above workflow would be enabled using SDK or equivalent.
Built With
- api
- sdk
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