Built on the scalable Oracle platform, FinnOne™ is an integrated suite of applications designed to support the typical business offerings of Banks and Financial Solutions companies. The Financial Suite provides a solution for both the asset side as well as the liability side of business, core financial accounting and customer service.

Loan Origination System
ccAPS
Lending
Collections
Finance Against Securities
PDCMS
LiquiDeposits
General Ledger
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FinnOne™ LOS automates and manages the complete application processing flow of any retail finance instrument, be it auto loans, personal loans, home loans, credit cards or even services related applications.

It allows banks to integrate the different touch-points in their supply chain for acquisition prospecting and pre-disbursal processing. The system takes the acquisition from the first contact, to application form acceptance, its workflow through various stages, queue management, deviation management, user management and access controls, right up to the reject/approval decision for the disbursement.

Additionally it allows online and if desired automatic credit evaluation of the application and processing till disbursement approval. The user can define the various parameters as per the policies of the banking / financial services company, thereby reducing the time and the manpower involved in the scrutiny of applications.

To further enhance customer service levels, FinnOne™ LOS incorporates best-of-breed tools such as sales calculators and offers best of processes such as “What If” scenarios. In addition to a strong Deduplication module, the FinnOne™ LOS can also take external feeds from external agencies such as credit bureaus and Central Banks. The FinnOne™ LOS has a robust scoring module wherein the parameters & policies along with scores & offer cards are maintained, which are used by the system to generate credit scores

•  A Specialized Front End – The front end is specialized in a way so as to cater specifically for the needs of credit card industry. It also provides a seamless interface with all the legacy system.

•  Dynamic Application Form builder – The system has a in built dynamic application form builder which helps the bank in designing the applications as well as choosing / deleting fields as per the banks requirements.

•  Centralized loan processing system – The centralized loan processing system offers seamless interface between application sourcing points like branches and dealers and the central loan processing department of the bank. The centralized processing assists in stronger enforcement of credit policy and risk norms.

•  Strong Credit and Fraud detection tools –The system offers a Credit policy check, which can be fully parameterized, prescribing what applications are required to be subjected to external checking. The system supports automatic assignment of applications to external verification agencies, and tracking of pending external verification cases.

The system has a powerful dedupe to catch fraudulent and negative customers. The module checks on Application against applications in 3 Databases i.e. Fraud/ Negatives Database, Declined Applicants Database and Approved Applicants Database. This module involves checking for matches over name, DOB, telephone, addresses and security numbers.

The system provides the maintenance for fuzzy rules. The fuzzy rules refer to the conditions that seem not possible or logical but can exist in many cases, like the applicant may be trying to fudge by playing around with the data and providing false information but forgets that it could be related to some other information.

The system offers a strong credit and fraud detection tools, which helps the banks in early fraud detection and taking a right decision in terms of the applicant's application. Various fraud databases are provided to enable fraud detection.

•  Web based – The browser based front end ensures ease in operation and instant information availability. A cost effective solution for bank with minimal investments in hardware and software.

•  Supports external checks and verifications with stand-alone components – The system supports interface with external verification agencies / tele calling agents to check on the authenticity of the applicants application. The system is governed by the promo codes as specified by the bank.

•  Intelligent Credit and Policy checking – The Credit module looks at the credit evaluations and worthiness checks of applications cleared by the Quality Check. The module evaluated on credit norms defined by the credit scoring module (including suggestive scores and alternate schemes) allows for incompletes curing and deviation / exception / policy referral escalation and handling.

The Card type and customer segments (Occupation, Nature of Company, Nature of Business etc.) are the main drivers of policy. Thus different policy rule tables are built for different card types and customer segments. The policy tables are fully parameterized. Different streams of policy are maintained in order to facilitate the system to take a credit decision.

The intelligent credit, policy and fuzzy logic modules help the bank in making the right decision and minimize the risk of fraud.

•  Incomplete application curing – The system also monitors the incomplete applications and sends reminders to the customers as parameterized by the bank.

•  Dynamic Workflow and feature parameterization for flexibility - The entire application processing is distributed into different stages and the sequence of the stages is controlled and managed by the dynamic workflow defined in the system i.e. different applications can be processed in different ways depending which workflow is attached to the application's promo code. The system facilitates setting up and defining of various parameters as per the needs of the bank.

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FinnOne™ Lending is a software module of the FinnOne™ suite, which has been built with the objective of providing operational and decision-making support to all the asset side business lines of Banks and Financial Services Companies.

FinnOne™ Lending assists Banking and Finance companies in introducing new product offerings and tailor made schemes, reducing time-to-market and automating processes so as to provide a distinguishing factor within the retail loan space.

Pricing / service levels / flexible product offerings are turning out to be the critical success factors for banks to establish the customer base in retail banking and offer innovative products and schemes to corporate clients. FinnOne™ Lending addresses these requirements with a very robust and flexible product management schemata, which supports multiple products like personal loans, auto loans, housing loans, consumer loans etc., helping Banks and Financial institutions brace for competition.

For retail lending, the prime considerations are the applicants ability and intent to repay the loan. FinnOne™ Lending quantifies, documents and automates the process of application evaluation. The essence is to weed out possible defaulting customers and negative profile applicants. FinnOne™ Lending recognizing the importance of risk management within the lending space, incorporates various credit risk rating mechanisms such as an internal scoring engine, integration to customer specific scoring modules and/or interfaces to 3rd party scoring such as Credit Bureaus.

FinnOne™ Lending's modular design facilitates rapid deployment. It also enables tailor-made to requirements implementation with scalability and ramp-up options.

FinnOne™ Lending is highly parameterized for unique and scenario based handling of the various parameters of accounting like charges, billing and accruals.

With its open architecture and non-proprietary standards & platforms, FinnOne™ Lending's ensure seamless integration to legacies and rid the burden of being “locked” to the system.

FinnOne™ Lending is web enabled and accessible via browser. FinnOne™ Lending supports multi-branch, multi-currency, multi-product and bi-lingual implementations.
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•  Web based –The browser based front end allows for anytime, anywhere access, ensuring ease in operation and instant information availability. Ensures seamless integration between Outsourced Collection Agencies, Branch/Regional Offices and the Central Head Office. A cost effective solution for the bank with minimal investments in hardware and software.

•  Bi Lingual- FinnOne is Bi-lingual. It chooses English as one mandatory language and any second language can be added, including double-byte languages as mandarin, kanji, katakana and Arabic.

•  Scalability – The product supports Multi Financiers, Multi Products and is Bi Lingual. Product available on Microsoft as well as Java technologies. Can be implemented in Windows or a Unix environment.

•  Rules – Flexible rule based system allows for user-defined rules to form business logics on the basis of an external data feed available to the system. The flexibility to form rules using data parameters is one of the important highlights of the system.

•  Hierarchy based dynamic work allocation – The cases allocation feature assists in efficient distribution of the queued cases. This definition assists in queuing cases of a particular profile to a particular recovery officer / agency.

•  Unit capacity planning – Defines the maximum level of cases outstanding for a particular entity at any point of time. This ensures load sharing and effective distribution of cases minimizing the chances of collusive fraud. The unit capacity planning can be defined at officer, agency or collector level.

•  Special features for Tele-calling – The Tele-calling screen is designed to include case critical information for the tele calling personnel. The screen also includes auto dialling, automated reminders or schedulers, pop up rules for customized work list. Comprehensive status cards can be printed for the field collectors updating them with the loan status details and facilitates in their efforts of debt recovery.

•  Legal module – The legal module facilitates tracking and follows up cases for legal remedy in a workflow-based scenario.

•  Legal interface – This interface provides for the exchange of information between the Bank and the outsourced law firms. Data can be downloaded and uploaded from the legal firms. The system also supports short messaging services between the two entities.

•  Repossession module – The module helps in tracking the stockyard inventory and supports the auctioning of repossessed assets.

•  Agency module – Supports offline or a disconnected collection activity at the outsourced agency with total control available from the head office. Very cost effective in the Collection activities.

•  Computation of compensation – The system computes agency payouts on per case basis, percentage basis or a flat per case basis. The system also supports a slab wise payout structure. This flexible compensation structure is a highlight of the agency billing module.

•  Document management - Module supports document retrieval and accountability in repossession and legal activities. This feature is important as the debt recovery process is extremely document intensive and the document filing and tracking feature ensures smooth flow of the process.

•  Behavioral scoring – Supports profiling of customers on the basis of a defined scorecard using the behavioral scoring module.

The system encompasses:

For multi branch operation, the necessary components of the system are web enabled.

Financial institutions offer finance against financial securities either through various branches, direct selling agents (DSA) or by takeovers. For a specified customer, the bank determines the credit approved amount (CAM), calculates the drawing power (DP) and sets the credit limit depending on the repayment capability of the customer and other financial parameters.

As required, the bank obtains the power of attorney or gets the transfer deed signed (where ever POA is not applicable) in its favor. Aging analysis is done on regular basis on pending POA and transfers. The subsequent activities are carried out only when the POA is dispatched and receipt duly acknowledged. POA are registered with the respective companies.

The securities, which are pledged by the customer for taking loans, are very volatile in nature with respect to market value. Therefore, it requires continuous monitoring of the market share prices by the bank. Whenever stock exchange index changes by the specified points, the drawing power of the customer is revised. If the credit limit changes, advises are sent to the customers about the change in their credit limit. At the time of completion of period for the specified customer or if due to some reasons, the customer wishes to close his account then all the securities pledged by him is withdrawn. The account is settled, outstanding balance bought to zero and the account is marked as closed.

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The banking / financial service organization has to take all possible measures in order to ensure the money borrowed is duly repaid by the customer. The credit may be sanctioned on the basis of the security, which can be in the form of a guarantee, salary deduction, standing instructions to the bankers, post dated cheques, etc.
Under a post-dated cheques scenario, the borrower submits the installment cheques for the entire tenor. The tenor of the transaction may extend to 15-20 years. Therefore a specialized system is required to handle this mountainous receipt of cheques. These cheques also need to be retrieved and deposited for payment, re-presented in the case of a bounced cheque, etc.

The other operational situations that may arise are manual misplacement of cheques, exchange of cheques due to reschedulement or change of banker, foreclosure of the agreement.

The FinnOne Post Dated Cheque Management System inventories, manages, tracks and presents on the due dates the cheques collected. The system also allows for exceptions and re-presenting of bounced cheques. This post dated cheques module facilitates inventory and presentation management.

Data is obtained by interfacing with the Lending system. The system can also downloaded to the Lending system, the amount collected from the presentment of the cheque.

PDCMS is capable of handling large volumes of data. It captures the loan as well as the cheques details, viz. company branch, product, loan account number, city, bank, bank branch, cheque serial number, cheque date, presentation date, cheque amount, bin number, multiple loan link.

It interfaces with the Lending system and is capable of accommodating the following scenarios:

- Foreclosure of a contract, hold instructions for cheques against banking request, swapping of cheques due to change of account or reschedulement and manual misplacement.

- The system can also upload from and download to the Lending module. Interface is possible through dump files that travel through storage media, ftp or any other communication method available. The either side of Lending or PDCMS will create a temporary table and a control table, which will be downloaded in the same dump file.

Presentation process involves:

1. Batch Creation - Controlled by the presentation date. Data pertaining to company branch, product, city of the cheque, status of the cheques – new, represent or ignore are offered.

2. Batch Maintenance - Where the cheques marked ignore will not appear in the pay-in-slip. These cheques will appear in the next presentation cycle.

3. Pay-in-slip Generation - Controlled by parameterization. Defined deposit bank will be assigned to each batch and a final cheque report will be generated for clearing.

4. Batch Closure – Occurs after the outcome of presentation is known. Batch closure will update the main table's final status regarding clearance. If the cheque has been dishonored, then alongwith the option of collecting charges, it can be auto-represented, represented or ignored.

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The FinnOne™ LiquiDeposits system caters to the requirements of the liability business of a financial institution. The system while meeting the vanilla requirements of a typical term deposit system has advance features like floating rate deposits. The systems also facilitates in offering the unitized and sweep deposit schemes.

The scope of the system covers the entire life cycle of a deposits business. The system facilitates the Term Deposits, Recurring Deposits, Variable Deposits and Cash Certificates business.

The system provides for:

•  Interest rate types- fixed rate/ floating rate with Penal Rates

•  Interest application cycle/Interest Payment Cycle

It also caters for Sweeping facility with tenure / amount based interest slabs

Further the system handles Maturity instructions, Payment instructions, Liquidations of unitized deposits, Pledge Management, Processing and General Ledger reconciliation with Tax Deduction at Source (currently as per Indian Income Tax rules).

Some of the features of the system are:

•  Supports fixed and floating rate deposits

•  Supports multiple maturity payment instructions to meet individual depositors needs

•  Aids liquidation of deposits with minimum interest loss to customer

•  Interfacing capabilities with host systems to protect your investments

•  Customer maintenance

•  Sweeping

•  Liquidations of unitized deposits

•  Pledge management

•  Reporting and MIS

•  LiquiDeposit / General Ledger Reconciliation

•  Tax Deduction at Source (Currently only as per Indian Tax rules)

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The FinnOne™ General Ledger module is a comprehensive General Ledger product, fully integrated with other modules of FinnOne.

Benefits:

•  Four-layered security system

•  Cost center and profit center accounting for management analysis

•  Multiple accounting years can be accessed

•  Branch-wise and division-wise accounting enabling effective and efficient control

•  Powerful MIS comprehensively supports and guides the managements decision-making process

•  Globally acceptable multi-currency software

•  Improved cash situation with controlled payables and receivables

•  Safeguards against redundancy of data entry

•  Audit trails ensuring accountability and security

Features:

•  Supports multi-currency accounting

•  Maker/Author concept (Dual security)

•  Flexible Chart of Accounts Maintenance

•  Voucher entry and generation

•  Balance Sheet and P & L statement Generation

•  Standard GL reports generation

•  Monitoring of accounts receivable & payable

•  Cost Center wise expense and income allocation

•  Fixed Asset management

•  Tax Deduction at Source Monitoring

•  Audit Trails

•  Bank reconciliation

•  Branch consolidation

•  Allowing multiple financial years to be opened simultaneously

•  Allows Multiple Sub-ledgers to be attached to a single Ledger

•  Generates Period Wise Accounting and Reporting

•  Strong Graphical MIS

•  Financial year division into multiple periods

•  Soft closing of periods

•  Provides the facility of banning any transaction in a Ledger / Sub-Ledger

•  Allows allocation of cost centers over profit centers

•  Allows Cost Center wise accounting and reporting

•  Generates period wise Budgeting and Variance reports

•  Multi Lingual*

MIS Reports: