1. Retail Loans Origination User Guide
  2. Retail Loans Account Origination Process
  3. Application Entry Stage
  4. Summary

Summary

This topic provides instruction to view the tiles for all the data segments in the Loan Application Entry Process.

The system will display the summary of each of the data segmentsin as many tiles as the number of data segments in the given stage.

  1. Click Next from pervious data segment to proceed with the next data segment, after successfully capturing the data.
    The Summary screen displays.

    Figure 2-20 Summary


    Description of Figure 2-20 follows
    Description of "Figure 2-20 Summary"

    Each of these summary tiles are clickable and the user will have the option to view all the details captured under the given data segment.

    For more information on fields, refer to the field description table.

    Table 2-11 Summary – Field Description

    Data Segment Description
    Applicants Displays the applicants details
    Relationship Displays the relationship details.
    Loan Details Displays the loan details.
    Mandate Details Displays the mandate details.
    Financial Details Displays the financial details.
    Collateral Details Displays the collateral summary details.
    Guarantor Details Displays the guarantor summary details.
    Terms and Conditions Displays the term and conditions.
  2. Click Submit to reach the OUTCOME, where the overrides, checklist and documents for this stage are verified. The Overrides screen is displayed.
  3. In the Override screen, the message appears in case there is any override. Overrides are basically warnings that are raised during the business validations. User has to accept the overrides to proceed further. Alternatively, user can go back and correct the data to ensure overrides do not arise. In case of override, click Accept Overrides& Proceed to proceed. OR Click Proceed. The Checklist screen appears
  4. In the Checklist screen the system displays the error message if document checklist is not verified. Click Proceed Next to proceed. The Outcome screen appears.
  5. In the Outcome screen, select appropriate option from the Select to Proceed field.
    • Select the Proceed to proceed with the application. By default this option is selected. It will logically complete the Application Entry stage for the loan application. The Workflow Orchestrator will automatically move this application to the next processing stage, LoanApplication Enrichment. The stage movement is driven by the business configuration for a given combination of Process Code, Life Cycle and Business Product Code.
    • Select the Reject by Bank to reject the submission of this application. The application is terminated, and an email is sent to the borrower or customer with a rejection advice.
  6. Click Submit to submit the Application Entry stage. The confirmation screen appears with the submission status, the Application Reference Number and the Process Application Reference Number.
  7. Click Close to close the window.
    OR

    Click Go to Free Task. The system successfully moves the Application Reference Number along with the process reference numbers [Credit Card Account] to the Credit Card Application Underwriting stage. This application will be available in the FREE TASKS list. The user who has the access rights will be able to acquire and proceed with the next processing stage of the application.

Application De-Dupe:

Based on the configuration available at the Bank level / Properties Table, the Dedupe service call can be enabled or disabled for the product Origination.

If application dedupe service is enabled, System will check that any application is in progress for same product and customer combination. On Submit, if any duplicate application exists, override will show a message with other in progress application numbers. User can select the override check box and proceed or take appropriate action.

Note:

  • If an application is returned to the Application Entry-stage from any other subsequent stages, Oracle Banking Origination will not allow amending details in the Customer Information and Financial Details data segment, once a customer onboarding process has been triggered in the Application Entry Stage and CIF creation is still in progress.
  • In case the party amendment request is rejected by Oracle Banking Party, the specified error message is shown to the user while submitting the Application Entry stage. The user has an option to go back and resolve the error or proceed with the stage submission by disregarding the amendment request.
  • Unique process reference numbers will be generated and made available in the Free Task grid for the respective Customer Onboarding, Collateral Onboarding requests, which need to picked up by the concerned users in the Oracle Banking Party / Oracle Banking Credit Facilities Process Management modules.

Parent topic: Application Entry Stage