| APPLY is a web-based Application Processing and Credit Scoring software application. It captures the applicant’s information, enables decision-making on credit worthiness of applicants, and rates the applicants based on the configured parameters. The APPLY system generates the card with approved application details, which becomes the input to external credit card management system.
Typical process for application processing in Apply is as follows:
- Physical applications are received from the Issuing Banks/Institutions
- Applications are entered in Apply system
- Application data is validated for its correctness and completeness based on configured parameters – maker checker, mandatory data check
- Applicants data is checked against existing card data for duplicates
- Applicants are scored / rated based on the captured data
- Cut off scores are configured based on which the applications are declined or approved
- Card details (Number, Credit/Cash Limits), where required are generated and posted to the card management system
Key Features
- Multi Bank/Institution
- Multiple Card/Product Management
- Product Definition
- Card Type Definition
- Card Application Processing Rules
- Corporate Cards Management
- Configurable Application Forms for data capture:
- Based on industry
- Based on applicant category
- Based on application source
- Configurable Rule Engine:
- Parameter selection- single or multiple parameters
- Operator selection
- End result (value, process next rule) definition
- Configurable workflow for application processing – automated or manual
- Configurable score card/rating system
- Interfaces for importing and exporting application data
- Configurable search criteria
- User Role mapping to actions
- Audit Trailing
- Reports- Application TAT, Application Ageing, User Performance, Audit Reports, Missing data, negative/duplicate application
Queues in Apply
Apply, being a workflow management tool, works on the queue system. Each application, after data entry, passes through a queue and moves from one queue to another based on the rules set by the bank. Some of these queues are also created to interface with external agencies such as negative check, credit bureaus, DSA etc.
Some typical queues are listed below:
- Capture
- Checker
- Supervisor
- Missing data
- Decline
- Duplicate
- Internal Negative check
- External Negative check
- Score review
- Contact point verification
- Final approval
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