|E-ON EPI - Retail Bank Functionality Details|
| E-ON EPI Retail Bank |
E-ON EPI - Retail Bank covers all Retail Banking Products
A fundamental dimension, through which E-ON EPI can be viewed, is the Banking Product dimension. This is possible, given that we have embedded already in EPI, Banking specifications and Banking functionality. Through the Banking business logic, we can accommodate and customize specific Banking Products features, attributes and special requests.
E-ON EPI Retail Bank in brief.
• Personal or Consumer Loans
• Mortgage Loans
• Pre – Approved Loans
• Credit Cards
• Investment Products
• Insurance Products
• Long Term Renting- Leasing
• Wholesale Loans
Front office functionality
• Person Management (Clients, Lawyers, Engineers etc),
• Application Management (Proposals, Printouts, Attachments, Calculators),
• Credit Scoring,
• And more
Back office functionality
• Flows ,
• Customer Evaluations,
• Loans Lifecycle,
• Credit officer’s performance,
• Productivity Management,
• Inventories of items to finance,
• And more
Financial Management Processes
• General Ledger entries,
• General Ledger Accounts Update,
• Cash and Bank Accounts Update ,
• Fixed Assets Master Data Update,
• Loans and Notes Management,
• And more
• Central Bank
• And more
E-ON EPI ensures the consistent application of the Retail Bank’s credit policies to loans origination, administration and approval. It covers applications for consumer loans, mortgage loans, or other products such as credit cards. Applications are posted by authorized users - bank employees, retailers - and are completed in various stages of the evaluation and approval process.
As a natural extension of the Applications module, E-ON EPI supports the flow of events after a Loan Contract for banking products is signed. It also tracks the profitability of the various products.
The system supports all functionality relevant to the loan lifecycle as :
• Daily Installments maturity
• Monthly Interest Accruals
• Cash or Automatic Payments
• Overdue Interest calculation
• Early Repayments
• Overdue Loans
All the above transactions integrate seamlessly with the General Ledger applications (E-ON EPI or third party software).
E-ON EPI supports interfaces with third parties external systems:
• Inter-banking transaction systems for loan payments.
• Interfaces with other Local Bank Systems for loan disbursements and loan payments.
• Interest calculations with separation of commision and interest subvention rate in the loan duration (optional).
...-- Many available interest calculation methods.
• Interest Calculation for overdue loans.
...-- Grace period as a general parameter of a product but also for a specific loan (from Collection department).
• Instalments payment. (Back office)
...-- Manually (“cash” mode)
...-- Via Direct Debit through inter banking systems (direct debit and deposits in other banks are also supported at the same time).
...-- By other banks with customized interfaces.
• Loans Classification into «categories»: Commercial (classification) and Accounting (classification). The Accounting category can be automatically affected by the Commercial. Daily tracking of the current classification and maintenance of historical data for any change to it.
• Statements printouts per product either on-demand or bulk. (Back office) (Back office)
• All loan transactions are automatically posted in the G/L (either E-ON EPI or in another G/L system).
• Automatic closing of loan account when the loan is paid. Optional classification into «paid loans» and «prepaid loans».
• Prepayment (partial and full). Creation and storage of scenarios per loan.
The system covers standard insurance products that can be sold by the Retail Bank’s Branches or Business Partners with the cooperation of one or more insurers from the market. The insurance products that are covered are: Car, House, Transport, Fire, Earthquake.
The system handles insurance products, either stand alone (i.e. a promotion of a new insurance coverage) or as a part of a loan. In the later case, the insurance premium can be financed through the same process (being part of a whole loan) or a separate loan process i.e. a loan for a car purchase with finance on the car insurance premium for the duration period of the loan.
For the Car Insurance business, the system has the following capabilities::
• Posting of the insurance coverage data on the main application form. Optional selection of the insurance premium within the loan (capital financed).
• Calculation of the insurance premium either inside the system or through a «black-box» - external system provided from any insurer who cooperates with the Bank.
• On-line interface over the web, with the insurer, to exchange data of the application and the contract. Every such interface usually requires certain work load of custom development, on a case-by-case basis; however the mechanism of the interface is available. .
• Printing of the insurance sticker for the car.
During Loan Application Processing, the Credit Scoring Functions may be executed. This can happen at any stage (called “status”) of the Application processing even if the application data are incomplete (e.g. for primary control and rejection of clearly problematic applications ). The C/S may run automatically when the Application reaches a certain status or manually when the user asks for it.
• Parametrical definition of Credit Score Criteria. Do not require any kind of development to add new criteria.
• Parametrical definition of various Score Cards.
• Connection of Product with Score Card.
• Connection of Business Partner with Score Card.
• Combination of the two above.
• Decision Table: Based on the final score value the system may propose a new status for the Application. This proposal may also be set-up as “final” Decision (approval or rejection), in which case the system will take the Application to the new status, automatically.
• Saves person historical data per application.
• Credit Score can be run for each Person of the Application (but not mandatory). The result may affect the application or simply to be registered as a historical element.
The Approval Decision process for a loan or a card application can be either automatic or manual, or with the intervention of credit officer or using certain combinations (e.g. approval under conditions). This means that it can be either automatic approval or a proposed approval flow. A specific loan may be approved automatically through the proposed flow, given that certain predefined factors are met (scoring, personal data, coherence rules, results of Teiresias e.t.c.)
The functionality of the automatic or proposed approval process is set by control and evaluation rules of each company parametricaly. These rules are represented in the following parameters:
• Approval Filters
• Approval Results
• Approval Filter Fields
• Table of Filters Values
• Decision Filters Table
• Exception Rules
• Approval Sequence
• Approval Workflow
The “Collections” module handles the actions, costs and history of attempts of the Bank with one Customer in order to collect a specific amount.
• Coded Actions and actions Results.
• Proposed workflow of actions based on the previous history of actions for every loan.
• Every action and action result can classify a loan in a "risk category".
• Accumulated costs per action. Automatic update of statement and General Ledger (if existing). Ability of Reversal of Collection Costs.
• Interfaces of Collections module with the External Payment Systems e.g. additional grace period, “Request less payment than actual obligation for loan Χ” (Back office).
• Production of accompanying printed documents per Action (Letters, statements, etc).
The functionality is handled through the Applications and Contracts Modules (for statuses and workflows).
It provides the ability of financing enterprises (dealers, importers), either as Unit-based financing, where the company is requesting a specific amount for disbursement for a specific goods purchase (e.g. such as a car chassis or specific motorcycle), or as working capital.
In the first case specific goods are financed and tracked in the system one by one (although they belong in one Credit Line).
In the second case, the Customer may use part of a pre-approved Credit Line for any reason such us new showroom creation, premises improvements, etc . Each credit line may have duration limits. If the duration is exceeded, the full payment is mandatory.