Investigations are an integral part of the loan origination process. Most Banks and NBFC's invest a great deal in ensuring that their Investigations reflect the claims made by the prospective client. Usually financial institutions perform three types of Investigations or Verifications to establish the geuniness of the prospective client,
- Telephone Verification
- Contact Point Verification at the Office
- Contact Point Verification at the residence
Thought these three are common to all origination processess a fourth verifcation that of verifying if the property title is in the name of the customer and does not have any other encumberance, is unique to Home and Mortgage Loans.
AnyBank CRM a newage Fintech application for Loan Origination handles Telephone and Contact Point Verifications. With BPM based user definable workflows, you could define the allocation rules and capacity for each product. AnyBank CRM will automatically trigger an Field Verificationa dn route the applicant information to the Field Investigatoion Agency. The Agency has the option to flag the investigation as adverse or good and upload supporting documentation.
To see how this module can help your Loan workflows take a demo of the Cloud based AB CRM.