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PhiNancials is a web based application which makes the process of loan initiation and approval / decline process a hasslefree process for lending institutions. Moreover, a built in document management system, faxing and emailing modules make the process completely paper-less.
The application has been designed keeping in mind that different institutions have a different initiation and decision workflow. We also understand that all institutions have different approval parameters and data capture requirements for each application. Hence, the system is so designed that the workflow could be easily specified through a simple configuration platform and the data capture fields could be defined and activated on a real time basis.
Key Features of PhiNancials
- Completely customizable data entry fields with no restriction of linked record types for a particular application. For e.g., you could create a new record type- ?References? to be linked to each loan application in the system. This way, you will be able to add multiple reference information to the same application. Not only this, you would be able to specify an unlimited data entry fields for the ?Reference? record. This takes the headache away from contacting the system developer / provider each and every time there is a small change in your process.
- The workflow of the system is managed through a set of stages. The administrative interface allows you to configure the various stages and add / remove stages in real time.
- An integrated faxing solution helps you setup multiple inbound and outbound fax numbers in the system. The system then allows you to send out and receive faxes directly through the system. Each incoming fax can then be associated to an existing application or would allow you to create a new application based on the information contained in the incoming fax.
- PhiNancials could be integrated with our Document Management System, DocuPhi, to completely customize the way you do data-entry for all applications. With this integration, you add scanning capabilities in the system and also the capability to completely outsource the data-entry part of your loan initiation.
- Configurable Email triggers and alerts help you to keep track of all the applications in the system and ensures that all the relevant users are kept informed. Triggers could be configured for stage changes for applications, data addition / modification, document additions, user comment additions, etc.
- Any number of branches could be created in the system and the applications could be associated to individual branches. Also, each branch could be given separate logins to access data relevant to them alone.
- Any number of user roles could be created in the system and a completely configurable access rights module allows you to specify role accessibility to the level of- application stage, record type accessibility for each stage for each role, module accessibility for each role, etc.
- Combined with above, the system boasts of a highly foolproof security system that keeps track of all logins, all access details along with data modification logs. This way, every institution could maintain a complete audit trail. Unlike other completely database based audit trail mechanisms, PhiNancials uses a combination of database based and application based audit trail capabilities and ensures that the system speed is not affected- irrespective of whether audit trail is turned on or off.
- Comprehensive search functionality enables users to search on any number of fields in an application, incoming faxes, documents, etc.
- Extensive reporting built into the system allows management to take decisions based on actual real-time facts as to the approval / decline process. Besides, a report generation module is present to quickly configure and generate your own real time reports through the system.
- Payback and payback tracking functionality allows institutions to track loan performance individually or in a pool.
All this and much more are present in PhiNancials at a fraction of the cost of equivalent systems. Please feel free to contact us if you need more information on the system or if you wish to go through a guided demo.
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