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VeriLoan - Loan Origination and Servicing / Retail Loan Origination

Retail Loan Origination
VeriLoan provides a comprehensive service of automated business processes performed in the handling of a retail loan or credit card application for advanced risk management.


VeriLoan is designed to meet the complex requirements of today's financial services industry.  It empowers and fuels financial institutions with a powerful, easily-deployable digital loan origination solution that enables them to make fast, consistent loan decisions within predefined risk margins.

The rule engine-driven platform integrated with a single point of loan assessment allows financial institutions to streamline and modernize their retail loan origination operations and reduce operational risks. It provides a comprehensive service of automated business processes performed in handling of a retail loan or credit card application for advanced risk management.

As a truly digital loan origination solution, VeriLoan also enhances customer satisfaction, while achieving profitable business results by transforming financial institutions' digital capabilities.

The traditional retail loans include: auto loans, personal loans, mortgage and credit cards.

The Islamic retail loans include: personal finance, auto lease, murabaha and charge cards. 

Rule Engine

Powerful, easy and transparent rule engine to configure the retail loan origination process

Capturing the loan request is the first and the most important part of a loan origination solution. VeriLoan helps to capture the data, manage seamless, consistent and engaging customer journeys on the same platform no matter what channel or combination of channels you choose to use. VeriLoan also includes features such as product policy automation, enforced policy, exception approval, Credit Bureau Integration and credit policy.

Having multiple channels managed in the same platform creates comprehensive loan origination processes that enable an all-inclusive review of:

  • Digital Loan Origination
  • Instant Loan Origination
  • Mobile Loan Origination
  • Merchant-based Loan Origination

The primary purpose of rule engine and origination modules is to support bank analysts in designing and implementing optimal strategies for assessment of loan applications and credit risk related to a credit decision. Usage of the scoring/rating module in a credit application process results in lower credit risk and therefore improves the quality of the entire loan portfolio.

Process Flow

Minimizing costs by automating loan processes

There is a large amount of information processed while assessing a loan application. As manual processes slow down the process and increase the risk of missing data, human error and subjectivity, the importance of automated process flows increases significantly. With a clean interface between front and back office, VeriLoan provides sophisticated process flows designed with flexibility and performance as the key keystones of its architecture. It automatically requires mandatory fields for accuracy and easy, fast processing.

The business rules as the substantial part of the smooth processes cover task management, SLA management, exception/violation, validation, escalation and authority levels. The product policy management representing the key point in sustainable retail loan origination includes the management and versioning of the products, segments, prices and campaign packages.

Document Management

Storing, accessing and managing all documents in one place

The documentation is often the most time-consuming part of the loan process. Being able to apply with minimal manual inputs, handling documents digitally from template automation to printing, document scanning to archiving are very important points for financial institutions.

VeriLoan provides a list of documents with mandatory or not mandatory features depending on specified parameters such as product type, risk level and KYC policies. All printouts are based on templates to automate the preparation of loan documentation, therefore the human error factor is minimized.

Collection Management

Improving loan collection rates through parametrized collection processing

VeriLoan's collection management includes data connectivity, decisioning, workflow and self-service capabilities. It aggregates data for a single view of process stages and provides a more effective and customer-focused collections process. The notification, action and timing features are automated. As a result, it increases recoveries and reduces costs through parametrized collection processing, proactive alerts and pre-determined collection scenarios based on customers segmentations.

Swift Process

Orchestrating end to end process of loan origination

The modular structure of Veriloan covers the whole lifecycle of credit process starting from initial calculations to quick eligibility check, application to reviewing creditworthiness, scoring to automatic soft and hard rule decisions and final decision to disburse the funds.

Swift process helps to:

  • Verify customer identity through internal and external data sources,
  • Evaluate borrower's ability to pay with embedded risk engine,
  • Manage decisions through automated policy rules,
  • Easily access reports and dashboards.

Audit Trail

Preserving data integrity with a full audit trail

The audit trail functionality of VeriLoan helps to easily track and keep the documents with time and date stamping feature. It records the entire history of a loan process, providing data of all participating users with the dates of modifications and the status of the loan. 

Eligibility Calculator

Built-in eligibility calculator improving customer acquisition 

VeriLoan’s eligibility calculator with pre-defined rules reduces dependency on manual interference via automated business processes. It allows financial institutions to have an interface to check their customers’ eligibility when they apply for loans online and instantly give them pre-approvals depending upon their eligibility. It also improves customer acquisition. 

The built-in scorecard of VeriLoan provides a set of weights assigned to characteristics that demonstrate customer’s creditworthiness by a score. By pulling data from multiple sources, the product-specific scoring models can be built where customers are rated according to the variables helping to measure the probability of default.

KYC and AML Checks

KYC and AML checks as gatekeepers to prevent financial crime

Knowing Your Customer is crucially important for loan origination, it helps financial institutions to:
  • Move faster, grow key relationships, and increase profits while controlling risk,
  • Identify, verify and understand the customers and their financial dealings better,
  • Comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations by optimizing and streamlining business processes including customer onboarding, alert investigation, case management, 
  • Maximize the effectiveness of fighting financial crime.