Overview

AFS Business Banking Origination streamlines, tracks, and controls the entire small business loan origination process by automating information gathering, credit bureau retrieval, credit scoring, decisioning, underwriting, document preparation, and loan booking tasks. As the fully integrated front-end of the AFS Straight-Through Processing business model, the system creates dramatic efficiencies through its built-in workflow management logic and systems connectivity capabilities.

Rules-based, systematic management of loan origination and its associated processes reduces credit and operational risk by reinforcing credit policy, providing an audit trail for decisioning, identifying operating exceptions, and ensuring completion of documentation requirements. Automation of this process provides consistency in the organization's response to credit requests and reduces staff time to process loan applications. Customer response is faster, and service staff has the ability to track the status of any loan application online to respond to customer inquiries.

Benefits

AFS Business Banking Origination enables banks to manage risk, cut costs, and generate revenue:

	Manage Risk: AFS Business Banking Origination and workflow modules provide accountability by building bank policy into daily processes that are systematically monitored. Exceptions are identified and reported so that immediate attention can be focused on corrective actions, preventing losses. AFS Business Banking Origination mitigates the following types of risk: Credit Risk, by identifying credit policy exceptions and improving compliance, including consistency in decisioning treatment of loan applications and the identification of unauthorized credit approvals or overrides. Operational Risk, by monitoring loans from first point of origin to booking-identifying process anomalies, including pricing and collateral exceptions, fee waivers, and missing or incomplete documentation. Regulatory Exposure, by providing the ability to capture and report more in-depth information on customers, facilitating "know your customer" accountability and supporting expanding internal audit informational needs.
	Cut Costs: By automating many of the processes that have historically been manual (decisioning, document production, perfection, customer notification, repetitive data entry) and by tracking individual performance, AFS Business Banking Origination reduces costs by up to 40%. In addition, significantly less staff time is required for manually intensive error research and resolution. Reporting focused on productivity management enhances time-to-market, turnaround, and staff efficiency.
	Generate Revenue: AFS Origination assigns fees and reviews rates in accordance with bank policy for each lending product as a loan is booked. AFS Origination clients achieve increases of three to five basis points on their portfolios attributed to the management of pricing exceptions. Revenue accrues earlier in the process due to faster booking; delinquencies are monitored to reduce losses.

Features

AFS Business Banking Origination encompasses significant small business lending processes-application, underwriting, and documentation/closing:

Application:

	Enables applications to be entered from any origination channel (Web, call center, small business lenders, branch officers, etc.)
	Guides originators in collecting all application information based on loan size and product needs
	Resolves deficient and missing information issues before the application is submitted to underwriting
	Detects duplicate applications to screen for fraudulent activity as well as to minimize data entry for same applicants
	Determines, based on bank business rules, the applications that should be scored. Eligible applications are sent, using an interface, to credit bureau for report retrieval. Ineligible applications are sent for review and additional underwriting.

Underwriting:

	Places applications into appropriate queues (auto-approval; approval-pending verification; auto-decline; decline-pending verification; and review/additional underwriting), based on credit scoring results
	Enables underwriters to access credit score information, credit bureau reports, existing relationship information, and collateral worksheets. Using this information, underwriters can define and redefine products, terms, and fees.

Documentation/closing:

	Interfaces to document preparation systems to create loan documents
	Tracks all steps needed to close

Additional features of AFS Business Banking Origination:

	Books borrower, obligation, collateral, and guarantor data to AFS Level III™
	Tracks document review and reports exceptions
	Interfaces to Fair Isaac for credit scoring; Equifax, TransUnion, and Experian credit bureaus; Adobe (Jetforms), LaserPro, and HotDocs doc prep systems; and the AFS Level III™ loan accounting system.