[CFRONT — front office complex for lending automation]

CFRONT — front office complex for lending automation

The automated routing and decision-making system CFRONT allows to organize the lending processes in a bank or a financial company in the most flexible and efficient way.

Having implemented this automated process management system for credit flows, the bank (financial company) solves the following tasks:

  • Incoming data processing: no application will be lost or forgotten, during the process it is enriched with the data from external and internal sources
  • Employees time saving: cutting off the «bad loans» as early as possible, data completeness control for decision-making
  • Loan application routing: if a positive or negative decision can be made automatically, it will be done; if not, the application will be sent to the verifiers providing all the necessary data and estimates for decision-making

 

The system consists of the following components:

Business Processes Modeler

The flexible modeler allows the bank (financial company) to organize a decision-making process, an application transferring between stages, application evaluation (scoring), credit history evaluation for various processes: cash loan, commodity credit, credit card, car loan, mortgage loan, entrepreneur loan, other required processes.

The settings for each selected process include:

  • Setting/adaptation of product models and merchants/branches parameters
  • Loan application setting (step-by-step implementation is possible – at first a short questionnaire with a minimum of parameters, then, if necessary, a full one)
  • Underwriter form setting
  • Setting of the form for viewing application full details
  • Decision-making process setting (stop factors, formulas for calculations, estimating models, purchased services connecting)
  • Print forms setting (5 forms for each acquired process)

The processes modeling occurs in the standard notification BPMN 2.0.

CS Ltd works on initial configuration, implementation, solution support, development of connectors, connection services for external resources and bank’s infrastructure resources, data security requirements providing.

 

UI Designer and User web application

The form builder (UI Designer) allows you to create working and auxiliary forms (pages) of the user application. This tool has a wide range of ready-made widgets (elements from which the page is built, such as fields, buttons, tables, etc.), and allows you to create new specific widgets by the developer tools (e.g., for working with a webcam or displaying a photo embedded in the customer profile, etc.).

Made-up forms are connected to the system and become available to users (depending on the access rights).

The user application provides a shell for the work of the contact center employee, risk manager and other system users with their tasks.

The standard web application distribution package includes:

  • Employee workplace (applications lists, work with tasks)
  • Business settings (products, partners, branches, blacklist, reference books)
  • Standard reports «Decisions taken», «Applications export», «Process time indicators»
  • Business Process Modeler, UI Designer
  • Administrative functions (data exchange with third-party systems logs, application administration)

The following additional options can be offered:

  • Credit broker workplace (maintaining of its own users list at merchants, the users working with the application as agents)
  • Bank customer’s personal account (a module that provides customer registration, a loan request applying, authorization, data providing on current debts on existing loans – by clicking on an external site link)
  • Other required analytical reports

 

Internal services for use in processes

The standard distribution package includes the following services:

  • Borrower search services in its own database by ID code, telephone number, passport data
  • Services for system reference books calling, searching for products, partners, branches
  • Services for borrower searching in its own black list by identification code, telephone number, passport data
  • Services for borrower applications searching on the specified statuses for business rules setting

 The following additional services can be offered:

  • Key parameters matching search service in historical requests (anti-fraud service)
  • Other necessary internal services

 

Interfaces for applications accepting from external systems

Open online interfaces for loan application accepting:

  • from the bank (company) website
  • from internet and mobile banking system
  • from partner software (Target Finance, Eldorado, Foxtrot, ALLO or other organization)

Please note that to receive applications from third-party systems, contractual interaction between the bank (company) and the relevant partners is necessary. CFRONT provides only the technical component of the integration.

 

Interfaces with back office system interaction

Interfaces for interaction with CBS B2 or another back-office system:

  • searching services of the counteragent data, its accounts, credit history
  • creating/updating counteragent account
  • creating/updating financial monitoring profile
  • current account opening for the counteragent - an individual person
  • various types of loans: collateral-free cash loan, commodity loan, car loan, mortgage loan, etc.
  • collateral + insurance
  • other necessary types of interfaces

 

Connector to external sources of information (credit history, open registries)

The module provides the ability to contact the credit bureaus and other external sources of information to obtain the borrower data:

  • credit history
  • anti-fraud
  • scoring, behavioral scoring, application scoring, etc.
  • photobiometry (photos searching and comparing), etc.
  • lost passports
  • persons wanted, etc.
  • entrepreneurs register data
  • court decisions data
  • company profile, etc.
  • addresses from applications searching on the map, distance between addresses determining, etc.

 

Other required interfaces

If necessary, other required interfaces can be implemented, for example, for interacting with the bank contact center software: the interface activation for dialing a phone number, the borrower data searching on the contact center software request, etc.

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