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| Loan Processing System |
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Systems Limited, the largest state-of-the-art software house and IT enabled service provider of Pakistan, is pleased to offer its clients with an industry leading, mission critical and a web-based solution to the Loan Processing needs of the financial industry. The Loan Processing System (LPS) offers a wide-range platform for organizing and managing all the stages of loan processing. Its main modules include Loan Origination, Analysis, Risk Management, Servicing, Litigation, Push & Pull Reporting and Asset Management. |
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LPS has been designed by highly experienced professionals having extensive expertise and proven track record for developing solutions for banks and financial organizations. The system is customizable to a large extent and is based on a configurable rule-based workflow engine. Therefore, the lender can concentrate on their core business activities instead of concerning about non-business critical, compliance and regulatory issues.
Loan Origination
Loan Origination is the entry point for all types of loans. In this module, the application for a loan is Entered, Analyzed, Processed, Underwritten and Closed. Risk Assessment and Management is an integral part of Processing that includes credit risk rating, credit risk calculator, collateral management system and Market & Operational Risks (based on standardized approach).
Automated Loan Servicing
This module provides the opening point for loan servicing; where payment schedules are developed, revised, collected and posted into the system for payment processing. Payment processing sub-module within this module provides functionality for applying penalties on non-payment loans and making adjustments in payments collected. As part of this servicing platform, bank reconciliation is also done and default loan cases are forwarded for loss mitigation and if necessary for litigations.
Asset Management System
The Asset Management module is used for payment rescheduling and bill generation with manual charges like fees and adjustments. This module also maintains general ledger accounting.
Litigation Processing
The Litigation Processing module manages losses in case of nonpayment of loans. It first tries to minimize the loss after which litigations are carried out for the recovery of losses. This module also Asset Management System Litigation Processing provides the functionality to file and collect claims against insurance companies and guarantors.
Push & Pull Reporting
This module is for generating reports for analysis and decision making purposes. Typically these reports range from recovery position and non-performing portfolio to monthly activity reports, sector/region wise reports and credit risk ratings reports. The additional capability of this module is to push Aging Reports, Warning/Critical Reports to the supervisors and administrators. Dashboard functionality in this module allows different departmental managers to pull reports as and when required. This module has an added feature to generate all reports required by the central bank.
LPS Main Features
- Security Engine
- Workflow and Rule Engine
- Task Manager
- Scheduler & Risk Rating Calculator
- Audit Trials
- Mini General Ledger
- Being a web-based solution, LPS can be accessed from anywhere by providing security credential
- Since processes are maintained by workflows, overall change in a process does not have any effect on the business rules that already are defined within a process
- Event Driven workflows help in automation, which means that as various activities occur during the processing, the next task or activity is queued
- Task manager creates tasks for appropriate departments and their users
- Tasks are assigned based upon priorities set by management and/or work rules
- Role based security is used for accessing system features Instead of reviewing/auditing every transaction, the Task Manager and workflow provide exception based- processing wherever applicable. System is configured to present exception cases to queue.
- Automatic QC tasks reduce time and manual efforts
- Manual tracking and communication is reduced with automatic follow-up tasks, alerts and reminders; queues are configured to display cases that exceed time-frame or permissible time based upon configurations and/or workflow rule
- Live Dashboards and Reporting provide tracking at every level
- System maintains audit trail of key activities performed during the processing, which establishes control in the overall process
- System provides impeccable functionality to add extensions to the product for future banking needs
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