6 Quick Account Opening

This topic describes the concept and process of single stage application.

What is Quick Account Opening?

Quick Account Opening is launched to simplify the account creation process, making it quicker and more efficient. When this feature is activated for a particular loan product, the system will automatically initiate the account opening process once the Quick Assessment is approved.

How to configure Quick Account Opening?

To streamline the account opening process, check the Quick Account Opening option in the Business Product Preference section of the Business Product Configuration screen.

After the product is set up for fast account opening, the user can align the business product with the factory-installed process for Quick Account Opening in the Business Process Configuration.

How to process the Quick Account Opening?

After configuring the product and process, the user can initiate a single-stage quick account opening application by completing the loan simulation and quick assessment process. Below is the detailed process for opening an account using a quick account opening.

To open an account using quick account opening process:

  1. Refer to the Loan Simulation and Quick Assessment section.
  2. Click Apply in the Quick Assessment Stage will automatically start the Quick Account Opening process if the Quick Account Opening option is activated for the business product.

    The Open Account stage appears. The data segments in this stage appears based on the business process configuration.

  • Loan Disbursement Details
    This topic describes systematic instructions to configure loan disbursement details.
  • Loan Repayment Details
    This topic describes systematic instructions to enables the user to capture the loan repayment details..
  • Document Generation
    In this data segment you can generate and dispatch the documents that are configured.
  • Document Acceptance
    In this data segment you can capture the acceptance of the documents that are already generated and dispatched.
  • Summary
    This topic provides the systematic instructions to view the summary of each of the data segments in as many tiles as the number of data segments in the given stage.