Overview

The Loan Process feature provides a guided, step-by-step workflow for originating a new loan. It is designed to be simple and intuitive, sequencing the essential tasks from client verification to loan payout. While the process presents the steps in a recommended order, it relies on the system setups to enforce specific rules and requirements.

The typical workflow involves the following key stages:

• Viewing the client's status and notes.
• Performing a credit check.
• Completing a client budget.
• Uploading required documents.
• Creating the new loan.
• Creating the loan repayment (Payback Instruction).
• Creating the loan payout (Payout Instruction).

Navigation

Client Administration > Search for a Client > Loan Process

1. Client Summary

This is the starting point of the workflow, providing a quick overview of the client.

• The client's current status is displayed at the top of the page.
• Diary notes will be displayed if the "Warn user if there are Diary Notes" option is enabled in the Setups.
• Click Continue to proceed to the Credit Bureau Enquiry step. If no credit bureau module is active, it will proceed directly to the Client Budget step.

2. Credit Bureau Enquiry

This step allows you to perform a credit check on the client.

• The page displays a summary of the most recent enquiry.
• Validity Status: A status of Valid or Expired indicates if the previous enquiry can be used or if a new one is required. This is determined by the Enquiry Validity Period and Enquiry Validity for No of Loans settings configured in the Credit Bureau Setup.
  • A green tick on the main process menu indicates a valid, recent enquiry.
  • A red cross indicates the enquiry is expired or has never been done.
• Click Finish to execute a new credit enquiry.
• Click Continue to proceed to the next step.

3. Client Budget

Here, you can review or create a client budget to assess affordability.

• The page displays information from the client's previous budget.
• Validity Status: The budget's validity is determined by the Force Client Budget Validity Period setting. If this is not enabled, the budget is only considered valid if it was created on the same day.
  • A green tick on the main process menu indicates a valid budget.
  • A red cross indicates an expired or missing budget.
• Click Go to Budget Detail to create or edit the client's budget.

4. Client Documents

This section is for uploading and verifying the client's supporting documents.

• You can upload the client's ID document, proof of address, bank statements, and payslips.
• Validity Status: The system checks for the presence of required documents.
  • A red cross (x) indicates that either the ID document or proof of address is missing.
  • An exclamation mark (!) indicates that the required documents are present, but the system cannot verify their content or dates. The user must manually check the documents for correctness and validity.

5. New Loan

This is the core step where the new loan agreement is created. The functionality is identical to the standard "New Loan" feature.

• Important: Every time you click on the "New Loan" step, a brand new loan will be created.
• Payback Type: The loan is automatically created with the default Payback Type and CSP configured on the client's profile.
• Loan Documents:
  • If the payback type supports electronic mandates (e.g., DebiCheck), the loan documents will not be available at this stage. A message will indicate they will be available after the Loan Repayment step.
  • If the payback type does not support electronic mandates (e.g., Cash), all loan documents will be available for download immediately.
• Status Indicator:
  • An exclamation mark (!) indicates a new loan has been created with an "Application" status.
  • A green tick indicates a new loan has been created with an "Active" status.

6. Loan Repayment

This step is for creating the Payback Instruction (PIN) for the newly created loan.

• The client's preferred and enabled bank accounts are displayed for verification.
• A list of the client's five most recent loans is shown.
• Click Create Payback Instruction to set up the collection schedule. This button is only enabled if the loan is "Active" and does not already have an active PIN.
• The Payback Instructions button allows you to view the details of a created PIN (view-only).
• Status Indicator:
  • A red cross (x) indicates a new loan has been created, but the Payback Instruction is missing.
  • A green tick indicates that a Payback Instruction has been successfully created for the new loan.

7. Loan Payout

This is the final step, where the Payout Instruction is created to transfer funds to the client.

• Prerequisite: Depending on the setup (Allow Payout Instruction without Active Payback Instruction), a Payout Instruction may only be possible if the loan has an "Active" or "Non-Loaded" Payback Instruction.
• Click Create Payout Instruction to initiate the payment to the client. This is only available if the loan is "Active" and has a valid payout method (bank account or wallet).
• Status Indicator:
  • A red cross (x) indicates the Payout Instruction has not been created or is still pending.
  • A green tick indicates the Payout Instruction has been successfully created.

8. Customer Feedback

We value your input on this new feature. A feedback tool is available at the bottom of the Loan Process screen.

• Click the thumbs-up icon if you find the feature helpful.
• Click the thumbs-down icon if you do not like the feature.
• Click the comment icon to provide specific feedback on how we can improve the workflow.
• Note: The Enable Customer Feedback resource must be activated for your user role to see these options.