Corporate Credit Process Simplified


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Corporate Credit Process Simplified

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Corporate Credit Process Simplified

  1. 1. Optimize Corporate Credit Approval ProcessAccelerate loan approvals, mitigate credit risks, and deliver more responsive customer service
  2. 2. OverviewCorporate credit approval is a very complex process, which requires careful evaluation of the financial standing of theprospective customer. Before extending any type of credit, banks and other lending institutions assess the potentialborrowers based on their financial performance, credit ratings and debt exposure. Further, commercial loans requireextensive supporting documentation which is routed through multiple decision points before approval.When a business needs financing, a time-consuming and complicated credit approval process might translate into lostbusiness opportunities. Despite this fact, most lending institutions are still hampered by inefficient processes forcorporate credit approval, leading to inevitable delays and customer dissatisfaction.Multiple, disparate and usually incompatible systems are involved in the corporate credit approval process, eachperforming a specialized function. This leads to limited managerial visibility and control across the loan approvalprocess, high operational expenses, and processing delays. With multiple points of data entry and multiple databases,data integrity can never be guaranteed and delays and errors become routine. To expedite the flow of loan applicationsthrough various stages, lending organizations need an automated solution that enables automation and control overthe corporate credit approval process from deal structuring through booking. Local Scanning of Documents Figure 1: Corporate Credit Approval Process
  3. 3. Key Business DriversAn integrated and comprehensive corporate credit approval solution helps lenders to mitigate risks, speed-up lending,increase customer satisfaction, and improve process visibility and control, while enhancing profitability. Some of the keyfactors necessitating automation of the corporate credit approval process include: Process Efficiencies Risk & Compliance ! Centralization of operations ! Credit risk mitigation ! Streamlined processing of corporate loans ! Enhanced visibility and control over the process ! Faster response times to credit requests ! Adherence to standards Enhanced Customer Experience Growth & Profitability ! Faster credit availability ! Enhanced revenues ! Service differentiation ! Reduced operational expensesNewgens SolutionNewgens corporate loan approval process automation solution enables banks to reduce loan origination cycle times,while facilitating sound credit decisions and improved loan documentation. The solution enables streamlinedprocessing, ensuring responsiveness, timeliness and customization in turning around loan applications. A rules-basedsystematic approach reduces risk by reinforcing credit policy, providing a comprehensive audit-trail of the approvalprocess, handling operating exceptions in real time, and ensuring completion of all documentation requirements.Solution Features ! A single unified desktop on top of the core applications for analysis and generation of proposal through integration with third party applications such as Moody, T24 (CBS), Treasury system, fax server, mail server, etc. ! Automated workflow-based movement of paperless credit notes through multiple decision points with real-time exception handling; parallel distribution of credit proposals ! Internal risk scoring model and integration with external credit rating agencies/credit bureaus ! Electronic document capture and management enable digital storage and transmission of documents ensuring integrity of the document throughout the loan life cycle; Supports data capture for individual and corporate applicants, for commercial as well as SME loans ! Improved strategic and tactical decision‐making with an efficient reporting mechanism - financial statements upload, physical performance capturing and analysis, financial ratios generation ! Centralized database enables updating of information in real time and distribution of operations over the Intranet/Internet; User-defined investigation types and fields ! A powerful rules engine enables robust validation checks throughout the loan origination process ! Powerful product management module ! Substantially minimized credit risk due to automation and standardization of the review and approval processes - online credit evaluation of applications, blacklist check, custom credit score, de-duplication, risk-based grading and pricing ! End-to-end process visibility allowing banks and lending institutions to drive their business according to KPIs and SLAs ! Comprehensive audit trail for all work-steps
  4. 4. Solution Benefits ! Quick disbursement ensuring that assets begin accruing revenue quickly ! Transparent and risk-based pricing ! Consistent risk-assessment and decisioning process ! Proactive, analytical and predictive risk management ! Compliance with regulations for process security, transparency, and auditability ! Electronic archival of loan documents with extensive search capabilities for instant access ! Real-time process monitoring capabilities, controlling risks and preventing loan ;defaults ! Easy review/renewal processNewgens corporate credit approval product suite comprises: ! OmniFlowTM - Business Process Management Suite ! OmniDocsTM - Enterprise Content Management Suite ! OmniScanTM - Production and Distributed Scanning Suite Figure 2: Corporate Credit Application Screenshot
  5. 5. Automation of corporate credit approval processfor a leading bank in EMEAOverviewThe client is a leading bank in the Middle East region, serving high net-worth individuals and successful businesscorporations with innovative banking solutions. The bank has achieved progressive growth, which has been mainly dueto its continuing efforts to improve.ChallengesThe bank experienced challenges in handling the Corporate Credit Approval Process which involved processing of alarge number of voluminous data entry forms. Further, the bank observed that the current process involved movementof documents through multiple decision points, resulting in high turnaround times (TAT). Ÿ Processing large number of detailed data entry forms with redundant data in several fields Ÿ Data was managed using Word and Excel file formats Ÿ Multiple decision points led to high TAT Ÿ Need to generate summarized report of the various processes for improved visibility and better decision making by senior management Ÿ No mechanism for tracking applications
  6. 6. Newgens SolutionNewgen provided the bank with a highly automated solution for corporate credit approval process based on its provenenterprise BPM platform. The solution enabled streamlined processing of corporate credit applications allowing the bankto better organize business processes, reduce administrative costs, and close more business faster. Ÿ End-to-end automation of the corporate credit approval process for streamlined processing Ÿ Streamlined data entry operations with elimination of redundant data fields Ÿ Rule-based routing of work Ÿ Dashboard for real-time process monitoring Ÿ Efficient reporting mechanism Ÿ Solution based on open standards and compatible with the existing infrastructure of the bankBenefitsNewgens solution for corporate credit approval process automation helped the bank to deliver enhanced customerexperience with faster turnaround times and better service options. Newgen helped the bank streamline loan approvalprocess, eliminating redundant and non-value-adding tasks. The key benefits accrued to the bank include: Ÿ Loan process centralization Ÿ On-demand access to information Ÿ Efficient search functionality drastically reducing the query processing time Ÿ Reduced TAT Ÿ End-to-end process visibility and monitoring Ÿ Improved operational performance Ÿ Faster and improved decision-making with reports generated at various stages of the process
  7. 7. Newgen’s Product Portfolio ™ ™Business Process Management Suite Forms Processing EngineOmniFlow is a platform-independent, scalable Business Process Management OmniExtract is the data capturing solution which extracts business-criticalSuite (BPMS) that enables automation of organizational business processes. information from image documents and forms. It can extract hand-printed/OmniFlow is designed to ease the creation, deployment, modification and handwritten characters, optical marks, barcode, machine-printed charactersmanagement of Business Processes. Built using open technologies, it has and MICR fonts.seamless integration abilities allowing it to be introduced into any ITinfrastructure. ™ ™ Invoice Processing System Newgens Invoice Processing System, with automatic data verification andEnterprise Content Management Suite validation capability, is a solution for automatic data capture from semi-OmniDocs is an Enterprise Content Management (ECM) Suite for creating, structured invoice documents. It also supports seamless integration with SAPcapturing, managing, delivering and archiving large volumes of documents and and other ERPs.content. OmniDocs manages Scanned Document Images, ElectronicDocuments and Emails as records. It also supports seamless integration withother enterprise applications. ™ Image-Based Check Clearing & Payment ™ Newgens ChequeFlow is an image based Cheque Processing solution for inward and outward clearing. Advanced and highly configurable sub-systemsCustomer Communication Management for Automatic Signature Verification, FOREX Cheque Processing, PDC Management, ECS/ACH mandates, add-ons for Cheque Deposit Machine/Newgens Omni Output Management System (O2MS) delivers smarter and Kiosks.targeted communications for better customer experiences. It offers thecapability of leveraging prime paper space for customer-centric inlineadvertisement and consolidation across multiple products. It enables securecommunication on improved templates with rich designs and graphicalrepresentation of analytics across multiple distribution channels. In addition ™easy archival & retrieval of correspondences for presentment, and efficientcustomer request resolution are achieved using this enterprise application. Governance, Risk & Compliance Compliance Manager is an integrated solution for Governance, Risk and Compliance thats geared to ensure compliance with standards, best practices and guidelines of various regulatory acts. ™Enterprise Reports Management and ArchivalOmniReports stores trillions of computer-generated output pages and ™reports in a highly compressed form. It has a high-speed ingestion processwith simple interactive definitions, enables instant access to terabytes of Production and Distributed Scanning Suitereports independent of business application, and is fully searchable at OmniScan is a production scanning engine for document image capture. Itfield/row/page levels. OmniReports is ideal for sun-setting of business enables scanning of different type of documents in different propertiesapplications as well as optimizing core system performance by purging without human intervention using powerful scripts. The inbuilt export andhistorical reports. integration feature allows using it as a scanning workstation with any Document Management and Workflow system.NewgenCloud SolutionsDistributed Capture SolutionNewgens cloud solutions, provides a process platform on cloud to the Mobile Capture Applicationcustomers. Developed using Newgens enterprise class Enterprise Content ZapIn is a highly secure application that helps a banking executive on-the-Management (ECM) & Business Process Management (BPM) suites it move, to capture customer information and instantly initiate its processing atleverages the companys deep domain expertise and industry best practices to the back-office. ZapIn is available both on Mobile phones and Tablets. The keyderive quick quantifiable business values to customers. The solutions are to the application is our advanced image processing that ensures high qualityavailable on both public and private cloud to create dynamically scalable and images and minimal size making it viable to be transferred over a GPRS/3G/4Ghighly reliable enterprise application. networks.
  8. 8. About Newgen• Leading Global Provider of Business Process Management (BPM), Enterprise Content Management (ECM) & Customer Communication Management (CCM)• 900 installations across 50 countries• Solutions for Banking, Insurance, Healthcare, BPO/SSCs, Telecom and Government• Credited with some of the worlds largest implementations• Innovative culture, consistent R&D investments, 35 patents• Employee strength 1100+• Certified for ISO 9001:2008, ISO 27001:2005 and CMMI Level3OFFICESIndia Americas Europe, Middle East & Africas Asia PacificNewgen Software Technologies Ltd. Newgen Software Inc. Newgen Software Technologies Ltd. Newgen Software Pte Ltd.A-6, Satsang Vihar Marg, 1364 Beverly Road, Suite 300 Off No: 314, Building No: 3 146 Robinson Road #03-00Qutab Institutional Area, McLean, VA 22101 P O Box. 500297, Singapore 068909New Delhi - 110 067 INDIA Tel: +1-703-749-2855 Dubai Internet City, Dubai, UAE Tel: +65 6221 8432Tel: +91-11-4077 0100, Tel: +1-703-439-0703 Tel: +971 44541365 Fax: +65 6221 6923 +91-11-2696 3571, 2696 4733 Email: Fax: +971 44541364 Email: asiapac@newgensoft.comFax: +91-11-2685 6936 For Sales Query: +1 (202) 800 7783 Email: For Sales Query: +65 3157 6189Email: For Sales Query: +44 (0) 2036 514805For Sales Query: +91 11 40773769 +973-1-619-8002 SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT