Automating the front end processes for Automobile Loans

This solution involved the process of digitizing faxed information that was sent to the business from Automobile Dealers for the approval of loans for their customers.

The primary objectives of this project are:

• To improve time to cash and provide a transparency to the entire payout process
• To provide a degree of measurability and increase efficiency of the dealers
• To simplify the application and payment process that the Auto dealers face so that the number of dealers as well as the number of auto loans provided increase

This application receives faxes from dealers as Tiff images via a fax server. All the pages of a particular document/agreement are stored within a single file unless faxed separately. When an agent opens a file, all the pages within the file can be viewed in a manner similar to turning the pages in a book. An in-built tracking mechanism was also provided to help ensure that the correct documents were associated with each file. This solution helped to provide the customer with a constant ability to track progress, and ensure increase in productivity of their dealer network.

The solution implements a workflow to eliminate the need for paper fax processing, and to provide checks and validations during the process. Domino workflow is used in the backend to handle storage of all information and handling of the remaining workflow. This involves integrating with third party applications as well as credit check agencies to ensure no duplication of applications etc.

Highlights

• On-line Image Viewer
• Split Screen Capability
• On-line Search Capabilities
• Auto-Fax to Dealers
• Real-Time Statistics / Dashboards
• Automatic Escalations
• Support for messaging and document management
• Search facilities provided
• Reporting Tools
• Maintenance of an Audit Trail
• Real time statistics and reports

The Technologies used are Lotus Domino 5.0.10, Lotus Workflow 3.01 and Right Fax Server Version 8.5. This solution is deployed across multiple locations.