LOS

The Loan Origination System (LOS) is developed specially to support the loan application processing needs of banks and financial institutions. It employs workflow technology to control and monitor the various work steps in the loan processing and uses digital imaging technology to reduce the delays and inefficiencies in handling paper documents.

Highlights

• Structured workflow for automatic routing of application.
• Support different origination channels.
• Support different loan products and loan types.
• Loan type parameters and constraints definition.
• Interface to external systems.
• Provide internal credit checking, credit scoring and compliance check.
• Support multi-tier rate structure.
• Generate letters and forms automatically.
• Application details and status enquiry.
• Document imaging and archiving.



Loan Processing Workflow

The most essential feature of LOS is its Loan Application Processing Workflow. Each loan application is monitored from the time it is entered into the system, and tracked through the various work steps of credit review and approval process. LOS allows these work steps to be performed in different locations while maintaining control of the flow and making sure no required steps are being missed.