Credit Underwriting Rules and Deviations Management

• Rules Engine: Implement a custom rules engine using Flow, Apex or third-party tools to evaluate creditworthiness based on defined criteria.
• Validation Rules and Triggers: Enforce underwriting guidelines and flag deviations for review using Flow, validation rules and Apex triggers.
• Custom Fields and Objects: Track deviations and their resolutions for historical analysis and regulatory compliance.
• Rules Engine: Implement a custom rules engine using Flow, Apex or third-party tools to evaluate creditworthiness based on defined criteria.
• Approval Processes and Entitlements: Establish multi-level approval hierarchies using Flow Orchestrator or Approval process for exception handling and risk mitigation.

Maker Checker Process

• Assignment Rules and Queues: Automatically assign tasks to designated checkers for dual control and risk reduction.
• Approval Processes: Use Standard Approval process or Flow Orchestrator depending on the complexity of the assignment rules and approvers involved. Configure approval steps for review and sign-off, ensuring a four-eyes principle.
• Validation Rules and Required Fields: Enforce data integrity and prevent errors through validation rules and required fields.

KYC Features in the Application Form

• Custom Fields: Collect Know Your Customer (KYC) information, such as identity verification and address proof, directly in the application form.
• Integration with KYC Verification Services: Connect with third-party KYC verification providers for automated checks.

Credit Check Features and Credit Bureau Integrations

• Integration with Credit Bureaus: Integrate with major credit bureaus like Experian, Equifax, and TransUnion to retrieve credit reports directly within Salesforce.
• Custom Fields and Objects: Store credit scores and report details for analysis and decision-making.

Field Investigation and Personal Discussion

• Custom Objects and Fields: Design custom objects to capture field investigation reports, including visit details, observations, and assessments.
• Flow Builder: Create dynamic workflows to manage the field investigation process, assign tasks to field personnel and third-party providers, and capture feedback.
• Mobile App Integration: Empower field personnel with a Salesforce mobile app to record observations, upload photos, and submit reports directly from the field.
• Personal Discussion Logging: Integrate with voice recording solutions to capture and store personal discussions with borrowers for reference and compliance purposes.

Managing Field Force and Third-Party Providers

• Resource Management: Utilise Salesforce’s Salesforce1 mobile app, resource scheduling tools to assign tasks to field personnel based on availability, location, and expertise.
• Third-Party Vendor Management: Leverage Salesforce Partner Communities (Experience Cloud) to manage and collaborate with third-party providers, share documents, and track performance.
• Performance Dashboards: Gain insights into field activity and provider performance through custom dashboards and reports leveraging CRM Analytics.

Assessment and Decision-Making

• Scoring and Rating Systems: Develop custom scoring systems based on field reports and personal discussions to assess loan eligibility or adjust loan terms.
• Approval Workflows: Integrate field investigation outcomes with existing loan approval workflows for a holistic decision-making process.
• Collaborative Decision-Making: Facilitate discussions and collaboration between loan officers, field personnel, and other stakeholders using Salesforce Chatter, Slack or similar tools.

Automated Document Generation

• Document Generation and Signatures: Leverage Document collaboration and e-signature solutions like Docusign and Adobe to generate and send loan documents, such as sanction letters, approval letters, and disbursement letters, for electronic signature.
• Merge Fields and Templates: Utilise Salesforce’s merge field functionality and document templates to automatically populate loan documents with borrower information, loan terms, and other relevant details.
• Conditional Clauses: Implement conditional clauses within templates to personalise documents based on loan type, approval conditions, or other factors.
• Expanded Flexible eSign Solutions: Implement multiple eSign solutions like Adobe Sign, Hello Sign, Sign Now and others to offer convenience of usage.

Leveraging OCR for Enhanced Data Accuracy and Efficiency

Use Salesforce Intelligent Form Reader to bring in OCR technology to read PDF, Images, Word or Excel documents and intelligently convert un-structured data to structured data.

• Extract Data Automatically: Utilize Salesforce’s Intelligent Form Reader to automatically extract key information from uploaded documents, such as names, addresses, income figures, and account numbers.
• Verify Entered Data: Cross-check extracted data with information entered manually in the application form to ensure accuracy and prevent errors.
• Prefill Application Fields: Automatically populate application fields with extracted data, streamlining the process and reducing manual effort for borrowers.

Einstein OCR:

• Customisable OCR: For more advanced OCR needs, explore Einstein OCR to extract data from a wider range of document types and customize field mappings to specific business requirements.
• Integration with Flows: Integrate Einstein OCR with Salesforce Flow to automate data extraction and validation workflows, further streamlining the LOS process.

Benefits of OCR Integration:

• Reduced Data Entry Errors: OCR technology minimizes manual data entry, leading to fewer errors and improved data quality.
• Faster Application Processing: Automated data extraction accelerates application processing times, enhancing borrower experience.
• Enhanced Compliance: OCR can help ensure compliance with regulations requiring verification of applicant information.
• Improved Data Integrity: Cross-checking extracted data with entered information safeguards data integrity and accuracy.
• Enhanced Customer Experience: Prefilling application fields reduces manual effort for borrowers, creating a smoother and more efficient experience.

Loan Approval Process

• Custom Approval Processes: Build flexible approval workflows with conditional routing and multi-level sign-offs using Salesforce’s approval processes or Flow Orchestrator.
• Email Alerts and Notifications: Keep stakeholders informed of approval status changes through automated email notifications.
• Internal team collaboration: Facilitate internal discussions and collaboration on loan decisions using Salesforce Chatter or Slack.

Disbursement Process

• Integration with Banking Systems: Connect with banking platforms via APIs or Bulk File uploads to initiate loan disbursements seamlessly.
• Outbound Message Actions: Trigger automated payment instructions and notifications using outbound message actions.
• Custom Fields and Tracking: Monitor disbursement status and record key milestones.

Experience Cloud for Applicants

• Experience Cloud for Applicants: Create a branded, self-service portal for borrowers to complete applications, upload documents, track status, and communicate with lenders.
• Forms and Flows: Design intuitive application forms and collect data efficiently using Salesforce Dyamic Forms and Flows.
• Document Uploader: Allow secure document submission and storage within Experience Cloud.

LOS Masters and Document Checklist Management

• Custom Objects and Fields: Store and manage loan product details, underwriting guidelines, and document checklists in custom objects.
• Screen Flows: Guide users through required document collection and validation using Screen Flows.
• Document Tracking and Version Control: Track document status and maintain version history for compliance and audit purposes.