PRODUCTS MORTGAGES PERSONAL LOANS CONSUMER CREDIT ASSIGNMENT OF ONE-FIFTH LOANS SALARY DEDUCTION LOANS INSURANCE PRODUCTS MICRO CREDIT PENSION FUNDS
MANAGEMENT Central Back Office TUTOR
CREDITS
PRICING
POST SALE
AUDITING/ COMPLIANCE
Manager/Area Manager
Example of a hierarchy that can be implemented in the system (not exhaustive)
Agency (with autonomy)
Coll
Coll Coll
Agency without autonomy)
Coll
Coll Coll
Note: ability to handle several Back Offices in cascading order. BOs scattered throughout the area: the system acts as the glue.
Digital documents
Peripheral Point Insertion Integration
Generation Automated pre-contractual doc.
Tutor Completeness check Document check
File complete?
A degree of difficulty is defined
File complete?
Management of the workflow in Gorgone WITHDRAWAL
Auditing and Compliance Shipping Controls
REJECTED
APPROVED
Credits/ Competence Centre Creditworthiness S.P. specifications
PAID
Pricing Checks Pro-forma and invoice
Post-sales Repeat and Phone collection
Credit-Test
Credit-Test - Credit-Test, if active, serves as a
virtual
analyst. It performs a precise evaluation of applications according to the credit policies set.
- Credit-Test has no limits (either numeric or of complexity) on the rules that it is able to implement.
The first step: classification and completion
Agency
Classification
Credit-Test
List compatible products
Data and attachments required by the selected product
- Exclusive competence of the Agency (the BO does not see the file) - This is the starting point for defining the behaviour of the target audience
Completion
It can be configured to give Outcome and precise diagnostics
Additional features and optional modules • • • • • • • •
Invoice management Workflows customizable by product Forms archive customizable by groups of users Batch versus AS400 terminal systems Integrated Credit-Test for each product and highly configurable Configuration of premium management, rappel and over for all roles involved in an individual product or mix of products Module for payment by credit card (PayPal) with integrated with systems for blocking access or sale of insurance products Gorgon Mobile Module
Additional features and optional modules • • • • • •
CRM functions oriented to repeat business: SMS Machine, Newsletter, paper correspondence (envelopes/labels/letters), event-alert Phone collection and insolvency monitoring Customized statistics Solution can be installed on an external server or hosted in the Finanche data centre Customers managed: 150,000 / Requests handled: 120,500 / Users transited: 5,050 Highly scalable: Finanche Srl holds the source and all rights to the platform. It follows that every request not included can be implemented on the system: in fact, adjustments are necessary to adapt the platform to specific needs or for use in other countries
Example of capital return
Databases GORGONE implies the creation of a comprehensive database of all the registries that are managed. The strong point is the digitized management of file attachments (identification documents, photos, income documents, etc.). This implies that, over time, it is easy to retrieve every aspect an analyzed individual, even how many products he purchased, how he paid for them, etc. It is a short step to the definition of behaviour and the integration on the credit-test already discussed.
Sample Contracts
Layout type - offices Office Photo
Focus on main products
Assignment of one-fifth loans The assignment of one-fifth of salary is a particular form of personal loan, which is repaid through debiting the instalment to a salary or pension cheque. so, it is an assignment precisely because there is a payroll deduction and "of one-fifth" because the rate may not exceed one-fifth of the net salary of the employee.
Micro-creditAssignment, by institutions or banks, of limited amounts of money to people who need it, in such a way as to enable them to start small businesses and climb out of poverty.
Pension funds Pension funds are the technical tools that are created to provide workers a supplementary pension. Through a pension fund the worker sets aside a portion of his earnings during his working life in order to ensure additional pension benefits (supplementary pension) with respect to those paid by compulsory social security agencies.
Insurance Insurance is the transfer of risk from one person to another. The person who transfers the risk is the insured and the one who takes it is the insurer. An insurance contract is thus a guarantee that an individual establishes against the possibility of occurrence of a future event that would damage his assets or health.
CONSUMER CREDIT CONSUMER CREDIT means credit for the purchase of goods and services or to meet personal needs granted to an individual or family, and may take the form of deferred payment of the price of the good or service purchased or a loan.
FORMS OF CONSUMER CREDIT
• CREDIT FOR A SPECIFIC PURPOSE: •Instalment or deferred payment •Revolving credit cards
• CREDIT NOT FOR A SPECIFIC PURPOSE: •Personal loans •Debt consolidation •Assignment of one-fifth of salary
CREDIT FOR A SPECIFIC PURPOSE • CREDIT FOR A SPECIFIC PURPOSE means all forms of financing addressed not to a generic need liquidity, but the purchase of certain goods and services
An important element is the destination of the credit, which becomes an integral part of the contract between: the buyer, the bank or financial institution and the merchant that provides the object of the sale
It is a three-way relationship: - The consumer who wants to buy the good or service - The participating dealer or store that is providing the good or service to the consumer - The bank or financial institution that is providing the financing
The consumer goes to the dealer for the purchase of the good or service
STEP S It pays the sum directly to the dealer
The dealer delivers the good to the consumer
the consumer agrees periodically repay the sum to the bank or financial institution according to the contract signed
The dealer has the consumer sign the loan application and sends it to the financial institution or bank.
The bank or financial institution evaluates the application
If positive
If negative
Declines the financing request
REQUIREMENTS To be able to sign a credit agreement for a specific purpose, the consumer must: • be of legal age, • have income, • fall within the parameters defined by the bank or financial institution providing the financing
Those who make recourse to credit for a specific purpose must obviously have to pay a portion of interest that constitutes the remuneration of the bank.
CREDIT NOT FOR A SPECIFIC PURPOSE (PERSONAL LOAN) •
This is a loan that allows the customer to obtain a sum of money intended to meet personal or family needs. The amount disbursed does not have a particular purpose, i.e., it is not directly related to the purchase of a good or service.
•
The bank or financial institution disburses the sum to the customer and he undertakes to return the amount according to an instalment payment plan
It is a two-way relationship: - The customer who need a sum of money for his own needs, - The bank or financial institution that is providing the financing
STEPS The customer goes to the bank or financial institution to apply for a loan
It pays the sum directly to the customer
The bank or financial institution evaluates the application
If positive
If negative
Declines the financing request the customer undertakes to periodically repay the sum to the bank or financial institution according to the contract signed
REQUIREMENTS To be able to sign a credit agreement for a personal loan, the consumer must: • be of legal age, • have income, • fall within the parameters defined by the bank or financier providing the financing