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¡ Loans Origination - Symtrix – The Loans Origination (Symtrix) process provides a step by step processing workflow whilst maintaining the flexibility to provide and update information at varying times in the application cycle. Symtrix provides complete workflow for originating Personal, Mortgage Loans and Overdrafts and is integrated to the Phoenix Core Banking system and other third party providers. Quotes As part of the normal workflow process for either prospective or existing members, a quotation stage is available which can be easily progressed to a full application. Automatic Data Population Member based information stored within the Phoenix Core banking is made available to Symtrix on a request basis for each application. Information relating to previous Symtrix loan applications is also available to be retrieved. Non Members All member based information can be freely keyed in to the Origination product without the applicant being a member until the loan needs to be funded. Increase by Variation Full Increase by Variation (IBV) processing is available where the original loan/overdraft details are repopulated to the Symtrix Origination product for an IBV application, including current repayment details. The original account is not impacted until the variation has completed the loan origination cycle (approval / contracts / ready for settlement processes have been completed in origination). Interfaces Symtrix interfaces with Baycorp Advantage with an online response populating the Symtrix ‘Credit’ window. On funding a loan within the Phoenix Core Banking system, any required motor vehicle encumbrance is automatically lodged with REVS/VSR (via an automatically generated output file). Variation to or cancellation of an encumbrance is also supported within Phoenix. The frequency of lodging encumbrance details to VSR/REVS is defined by the organisation. Consumer Credit Insurance (MRI, CCI, LRI) automatically calculates the premium for the applicable cover. Property and vehicle insurance policy details can be captured as part of the security details of the loan within Loans Origination, and is passed to the Phoenix Core Banking system on funding the loan, as the Insurance Policy on Security.
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