Third Party Disbursement Management

A credit admin management module that simplifies loan disbursement process workflow

VERICOS Third Party Disbursement Management is initiated from any LOS (Loan Origination System), covering all activities, responsibilities, and partners whist validating task deliverable and tracking progress against defined service target.

VERICOS Third Party Disbursement Management ties different involved parties together to ensuring every step is performed correctly and within expected time frames.

Following are Key Features of the product:

  • Direct LOS integration and initiation
  • Third party definition and configuration with tenancy options
  • Full end-to-end multi-party collaborative processes
  • Processes configuration by customer/product type
  • Support for retail and commercial loans
  • Workflow driven work assignment and tracking
  • Partner access, progress tracking and SLA warnings and alerts
  • Multi-level appproval workflows, activities and checklists
  • Exception and escalation handling
  • Document creation template forms and correspondence
  • Capture for applicant, asset and process documentation
  • Shared documents for immediate access
  • Integrated multi-party, multi-contact, messaging and correspondence
  • Applicant validation including documents and external assessment
  • Integration of external services for application verification
  • Asset valuations, documents and photo evidence
  • Reporting and dashboards for rejections and progression rates

Following are Key Benefits of the product:

  • Improved visibility and progress tracking
  • Improves third party collaboration and performance
  • Reduces dependencies to streamline processes
  • Reduces clerical tasks and related costs
  • Simplified implementation and support
  • Flexibility for continuous process improvement
  • Better performance reporting & analysis
  • Improved QoS, customer satisfaction and ROI.

For more details information, you may refers to below product brochure.

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