| Companies typically have a number of internal processes organized in workflows in order to improve the efficiency of their operations. The same rules apply in the banking world for their credit approval processes. |
 |
|
|
| Using the FACT Workflow Manager, it is possible to easily implement all of these processes in a transparent, dynamic, and robust fashion, thereby optimizing the administrative workflow of day to day credit demands. |
|
|
|
ENLARGE IMAGE
|
|
|
|
| FACT is able to interpret a specific series of steps (see example below) that reflect your existing business credit procedures. Once the steps have been defined within FACT, the workflow manager can be easily configured to support your business process on a day to day basis. |
|
|
|
| Example of typical steps required to approve or decline a rating: |
|
- A customer requests a new credit limit
- The branch addresses the credit request to the Credit Department
- The Rating Department updates the customer's rating
- The Credit Department prepares and submits the credit proposal to the Credit Committee
- The Credit Committee accepts / declines the credit proposal
- The Credit Department files the decision
- The Branch is notified about the decision
|
|
|
ENLARGE IMAGE
|
|
|
|
| Functionalities and Strengths of FACT workflow module include: |
|
- Automatically direct and guide the user through the correct steps of the credit process
- Validate and process data (input and output)
- Trace all workflow execution deals
- Manage workflow hierarchy (user rights, authority levels, status etc).
- Make decisions based on pre defined business rules (including complex rules attached to underwriting decisions)
- Archive historical workflows and related steps
- Attach attachments (Word/PDF/Excel) to active workflows and steps
- Include customized reports to display information relating to each workflow process
- Notify daily responsibilities, pending approvals, overrides, new credit limits, tasks etc (see table below)
|
|
|
|
|
|
|
| Key Benefits |
|
|
|
| Integration |
|
| The FACT Workflow Manager can leverage all the FACT modules and integrate them into a powerful process oriented scheme. By communicating" with the different FACT components, the Workflow Manager can enforce specific business rules and process automatic actions. |
|
|
|
| Automation |
|
| The FACT Workflow Manager is designed to: |
|
- Ensure critical processes are never left unattended.
- Provide each user with up-to-date information necessary to ensure their responsibilities are carried out in a timely and efficient manner
- Save money by automating time-consuming manual processes.
- Guarantee Basel compliance by ensuring business rules are enforced and all critical actions logged systematically on the system.
|
|
|
| Security |
|
| The FACT Workflow Manager is designed to fully integrate the existing FACT role based' security model. Each workflow step is pre defined and controlled automatically to ensure users never perform unauthorized tasks. |
|
|
|
| Monitoring |
|
| Active workflows are in constant evolution and involve several actors, and therefore FACT enables the company assigned administrator to selectively monitor daily user activity at all stages of the credit decisioning process. |
|
|
|
| Traceability |
|
| Once a workflow is started you can check the previous commitments of the process, tracing the entire workflow decision path, ensuring no critical information loss on previous actions. |
