Enterprise Digital Lending Platform

Objective

Design and build a scalable enterprise loan platform that:

• Scales to administer multitudes of tenants, each with a scalable number of custom lending environments, custom roles, and users.
• Is capable of batch processing various general and custom created loan types, (tens of thousands per day, per each tenant environment)
• Allows for end to end workflows for individual loan types
• Allows for Purchase and sale of loans
• enables realtime reporting capability for batch and individual loan processing for the life of the loan.
• Enables lenders to meet compliance and security standards.
• Integration with external client loan origination systems

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Process

Discovery Phase

The discovery phase of the project consisted of the following:

• Goal: Rapidly understand the problems space, understand business functions, and synthesize business strategic goals to define requirements and roadmap.
• Results: We conducted initial research and user interviews in the first weeks to understand our user’s key motivations along with contextual knowledge of how lending data must be specifically administered/managed — both within tenant environments, as well as across the platform ecosystem as a whole.

DESIGN PHASE

Utilizing the findings from our quick discovery phase, the design process continued to rapidly iterate from low fidelity wireframes to high-fidelity clickable prototypes across various core features, functionalities, and user workflows. Further working sessions with trusted design partners allowed for additional iterative design discovery culminating in key areas of focus for the platform: Agreements, Usage, Charges, Processing/Reporting.

• Administration
• Agreements (Collections & Relationships)
• Quick Sold Products
• Charge Methods & Invoice Generation
• Reporting/Compliance

1.0 Administration

Administration for this solution is particular as there are both administrative tools for global configurations across the the ecosystem, as well as for configurations specifics to tenants and their environment. In establishing baseline data configuration we designed specific tools for administering:

• Tenant Management
• Tenant Environment Management (dev sandboxes, qa, production, compliance etc environments)
• Dynamic Roles
• User Management ( + batch user provisioning)
• Processing Rules Management
• Reporting and Compliance Rules

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2.0 Agreements

Through our iterative design process, the Loan Agreements segment of the platform evolved to enable underwriters to efficiently: draft, review, authorize, sell, and track loans loan agreements — by including an intuitive workflow for creation and editing, and dynamic tracking to usage and charge method payments.

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3.0 Quick Sold Products

Quick Sold Products (QSP) are additions to Loan agreements, a list of entities configured for each individual client environment, and dynamically made available to various loan types based on administrative rule configs. QSPs reduce the repetitive nature of loan drafting, add-on data entry, calculated compound interests, etc. Managing a singular lists of QSPs helps reduce the possibility of defects and errors being introduced to the loan underwriting and sales process.

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4.0 Charge Methods & Invoice Generation

Char methods and generation are primary facets of loan management. Through our design process, we created features within the app configuration to allow admins to create and configure dynamic charge methodologies and assign them to available products and loan agreement offerings alongside invoice processing and generation rules.

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5.0 Reporting & Compliance

Along with realtime batch and individual processing and daily reporting, overall environment, tenant, and platform status and metrics are paramount for business procedures to flow smoothly. Our approach to reporting and compliance includes robust administrative tools for exporting large amounts of historical data from any given environment, or area of the application. Dynamic reports are auto-generated and distributed to elevated users, as well as ad-hoc compliance and historical data aggregation and exporting are capable from all areas of the platform ecosystem.

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