Manage Lending Tasks

Submitted

• Requested Structure: This task is created multiple times equal to the number of facilities available under the request. The tasks are assigned to the Relationship Manager - RM (default user) and available in the task widget of the default user.
• Add summary narrative: Assigned to the default user and available in the task widget of the default user.

Complete the tasks assigned to default user and complete the failed tasks if any exists. The request moves to the next stage after all the tasks are completed.

Prescreening

When the data evaluation criteria are met, the tasks are auto completed. Otherwise, the task fails and assigned to the remedy user.

• Entity Basics (Name of Party). All entity related tasks will have the Entity Name and facility related tasks will have the Facility Name.
• Entity Status (Name of Party)
• Address Information (Name of Party)
• Contacts (Name of Party)
• Consent (Name of Party)
• Structure - #(facility number): This task is created multiple times equal to the number of facilities.
• Pricing – #(facility number): This task is created multiple times equal to the number of facilities.
• Customer KYC: Business Basics (Name of Party)
• Customer KYC: Beneficial Owner (Name of Primary Borrower)
• Sanctions – type (Name of Party)
• Sanctions – type (Name of Contact)
• Business Basics Information (Name of Party)
• Annual Statement (Name of Party)
• Business Evidence (Name of Party)

For a task to check Annual statement, the rule checks if the document of category- Financial Statement and document type- Financial Statements is present or not in the application,this happens by navigating to the Entity Overview Document section.

For a task to check Business Evidence, the rule checks if the document of category- Proof of Business and document type-Tax ID is present or not in the application,this happens by navigating to the Entity Overview Document section.

Complete the tasks assigned to default user and complete the failed tasks if any exists. The request moves to the next stage after all the tasks are completed.

Credit Packaging

When the data evaluation criteria are met, the tasks are auto completed. Otherwise, the task fails and assigned to the remedy user.

• Consumer Bureau(Name of (Individual) Party): Assigned to the default user and available in the task widget of the default user.
• Consumer Score(Name of (Individual) Party)
• Review and update the Bureaus report for the party(Name of Party): Assigned to the default user and available in the task widget of the default user.
• Business Score(Name of Party)
• Financial Ratios (Name of Party): Review and update the financial ratio results for the entity
• Exposure(Name of Party)
• Payment History(Name of Party)
• External Risk Rating(Name of Party): Create or update the risk rating
• Analysis Recommendation: Assigned to the default user and available in the task widget of the default user.
• Complete Outstanding Collateral Details : Assigned to the default user and available in the task widget of the default user.
• Order/Review Appraisal
• Lien search/charge rank

For a task Order Review/Appraisal document, the rule checks if the document of category- Collateral and document type- Appraisal/Valuation is present or not in the application,this happens by navigating to the Entity Overview Document section.

Task for Exposure-New, Modification or New + Modification Journey

A task gets created for the user to fetch all the exposures of the parties related to the request in the Request Overview. This is created for all the distinct parties of the request, whether the facility is new facility request, modification request or comprises of both new and modification at the same time.

Credit Packaging stage (New and Modification Journey)

The Exposure task for New facility or Modification facility journey gets auto-completed for all the parties, however here a manual task gets created for all the parties of the request and the user fetches the record for that party from the Request Overview to complete this task.

The following are the changes, also highlighted in red.

• Navigation is done to the Request Overview, Exposure section.
• Data Evaluation- when the user tries to complete the task, it checks if the exposure record is fetched for the entity in the Request Overview.
• Change in Description.

Complete the tasks assigned to default user and complete the failed tasks if any exists. The request moves to the next stage after all the tasks are completed.

Underwriting

In this stage, auto tasks are not available. When the data evaluation criteria are met, the tasks are auto completed. Otherwise, the task fails and assigned to the remedy user.

• Review Request Structure & Fees: This task is created multiple times equal to the number of facilities.
• Review Collateral
• Review Financial ratios
• Review or Update Limits (Name of Party)
• Review Policy Exceptions
• Review Compliance: If facility compliance exists, then this task is created for each facility.
• Complete Covenant Requirements
• Additional Information Required
• Create Credit Decision
• Terms Sheet: This task is created multiple times equal to the number of facilities.

• Decision Notification

Complete the tasks assigned to default user and complete the failed tasks if any exists. The request moves to the next stage after all the tasks are completed.

Offer and Acceptance

One task each is generated for a facility available under the request. Workflow path is independent for each facility.

• Terms Sheet Ready : Task will auto complete if term sheet document is available. Otherwise, it fails and assigned to the remedy user.
• Offer Acceptance: Assigned to the default user and available in the task widget of the default user.
• Upload Signed Terms Sheet : Assigned to the default user and available in the task widget of the default user.

The term sheet gets generated in the generated document section with document category- Agreement document and document type- terms sheet. (Navigate to Facility Overview Document section)

Upload signed terms sheet task checks if a document with document category - Agreement document and document type- terms sheet is uploaded with signed status in the uploaded document section. (Navigate to Facility Overview Document section)

Complete the tasks assigned to default user and complete the failed tasks if any exists. The request moves to the next stage after all the tasks are completed.

Offer Acceptance Task Modification for Send Invite

Invited Co-applicant must be aware as to when the offer letter is generated and the status to know if the Primary applicant/Invited party has accepted the offer letter or not. If the Primary applicant accepts or rejects the offer in online mode, a mail is sent to the co-applicant to notify the Primary applicants decision.

Dear Mr. <Co-applicant>,

We would like to inform you the Mr. <Primary applicant//Invited party > has accepted/rejected the offer of <Facility> for <approved amount>

Regards,

Temenos Digital Bank

• Generated offer letter is sent to all the parties involved.

For Prospects.

• Existing flow where notifications are sent to Primary applicant will continue.

Review KYC Tasks for Invited Co-applicant/Invited Related Party

Bank user must review the KYC information and if there are any modifications in the KYC information, a task is created for the invited co-applicant and update the same in the customer profile. If there is no change in the KYC information, then the process moves ahead.

Invited co applicant additional Field Data Mapping

All the additional fields added for this journey such as Customer ID & Existing customer is saved in the respective microservices.

• ODMS: In ApplicantMetaData Entity
  • Existing Customer: IsExistingCustomer
  • Customer I: DigitalProfileId

• OPMS
  • Customer ID: DigitalProfileId
  • Existing Customer: Not Storing explicitly but the Co-applicant ID ENVF or NNVF will help identify this.

  Co-applicant Invite Link Management

Due Diligence

One task each is generated for a facility available under the request. Workflow path is independent for each facility. When the data evaluation criteria are met, the tasks are auto completed. Otherwise, the task fails and assigned to the remedy user.

• Upload Appraisal / Valuation Report(Name of Collateral)
• Insurance(Name of Collateral)
• Lien or Title Search(Name of Collateral)
• Advance Rate(Name of Collateral)
• LTV(Name of Collateral)
• Account Statement(Name of Collateral)
• Trust Agreement(Name of Collateral)
• Account Hold (Name of Collateral)
• Party Detail Complete(Name of Party)
• Party Signer (Name of Party)
• Conditions Satisfaction(Name of Condition)
• Compliance: If facility compliance exists, then one task is created for each facility.

Account Statement: The rule checks if the document of category- Collateral and document type- Account statement is present or not in the application by navigating to the Facility Overview Document section.

Environmental report: The rule checks if the document of category- Collateral and document type-Environmental report is present or not in the application by navigate to Facility Overview Document section.

Complete the tasks assigned to default user and complete the failed tasks if any exists. The request moves to the next stage after all the tasks are completed.

Documentation

One task each is generated for a facility available under the request. Workflow path is independent for each facility. The tasks are assigned to the default user and available in the task widget of the default user.

When the data evaluation criteria are met, the tasks are auto completed. Otherwise, the task fails and assigned to the remedy user.

• Complete Doc Prep Review Conditions Satisfaction(Name of Condition)
• Choose Document Generation & Delivery Methods
• Select Documents
• Generate Documents
• Document Package Review
• Document Delivery
• Document Storage

Complete the tasks assigned to default user and complete the failed tasks if any exists. The request moves to the next stage after all the tasks are completed.

Closing

One task each is generated for a facility available under the request. Workflow path is independent for each facility. The tasks are assigned to the default user and available in the task widget of the default user.

When the data evaluation criteria are met, the tasks are auto completed. Otherwise, the task fails and assigned to the remedy user.

• Upload Signed Documents: Assigned to the default user and available in the task widget of the default user.
• Review and Approve Signed Document(s): Assigned to the default user and available in the task widget of the default user.
• Conditions
• Monitor Compliance
• Review facility for Boarding Approval: Assigned to the default user and available in the task widget of the default user.
• Boarding: Assigned to the default user and available in the task widget of the default user.
• Funding Instructions: Assigned to the default user and available in the task widget of the default user. Notification is triggered and sent to the default users.
• Funding Notification – Accounting
• New Loan Notification – Customer Service
• Loan Complete Notification

Upload signed document: User should upload one document of any type in the uploaded document section with signed status. (Navigate to Facility Overview Document section)

Complete the tasks assigned to default user and complete the failed tasks, if any exists. The request moves to the next stage after all the tasks are completed.

New Rules for Funding Instruction based on facility type

A Task can be complete only if the below conditions are executed: 

For Term and Mortgage Loan

• There needs to be at-least one line item.
• All the Funding line items need to be in Approved status.

For Revolving, Line of Credit (Non-Revolving), Overdraft

• The Task can be completed even without a funding line item.
• All the Funding line items need to be in Approved status.

 For Letter of credit and Letter of guarantee Facility type: The Funding instruction task is not triggered.

The Task description is updated as

• Existing Rule - Create one or many funding records by completing all details for fund release.
• New Rule - Create funding records by completing all details for fund release.

A Task is not triggered for LC and LG facility types and this does not impact account creation (arrangement creation in transact).

Follow Up

One task each is generated for a facility available under the request. Workflow path is independent for each facility. The tasks are assigned to the default user and available in the task widget of the default user.

One manual task is generated and assigned to the default user

The request moves to Complete stage after all the tasks are completed.