https://www.youtube.com/watch?v=OYV-4w2O2gQ&t=6s

Our Servicing module allows the financial institution to manage all customer information in a centralized location to assure data integrity and to simplify the customer service and management processes. A unified customer record always ensures that the entire relationship is always visible, allowing the institution to provide better customer service, resolve queries and improve service personnel productivity.
LLaaS, Powered by Oracle provides customer service personnel with all customer account information for the duration of the customer relationship. The customer service screens provide real-time information about the customers, account balances, amounts due, transaction data, call activities and comments. The powerful ad-hoc search capability provided allows real-time searching for accounts.

Key Features:

  • Supports a transaction authorization (Maker-Checker concept) for manual transactions only, such as monetary (except payments) and non-monetary transactions
  • Performs interest calculations using different methods such as simple interest (including daily), actuarial, Rule of 78ths’s and average daily balance
  • Allows suspension of interest accruals on accounts
  • Calculate minimum due amounts based upon a variety of criteria
  • Process one-time and recurring ACH payments
  • Maintain the allocation of payments between principal, interest, fees, and expenses
  • Perform changes on specific payments that have already been posted
  • View the entire transaction / payment history of any account online in real time
  • Perform tax and insurance escrow processing for loans
  • Backdate account transaction activity as needed
  • Determine the day interest accrual starts
  • Maintain, track and monitor account insurance and collateral / asset information
  • Track insurance and warranty claims
  • Change customer due dates
  • Process loan promotions, such as reduced rate, no payment and interest or same as cash
  • Grant and process extensions (or deferments)
  • Perform payoff (or prepayment) quotes and maintain a history of all quotes provided
  • Generate payment receipt (in a licensed deployment only)
  • Waive or reverse any fees and expenses that have been incurred
  • Interchangeably place accounts in and out of ‘non-performing’ status
  • Charge-off accounts
  • Create and perform maintenance on multiple fee types and fee rules
  • Establish and track information in unique user-defined data fields
  • Attach scanned documents to an account
  • Trigger events that will perform the associated actions when an account moves from one status or sub-status to another
  • Maintenance of user-defined account conditions
  • Process statements on a cyclical basis and send the data electronically to a printing or fulfillment vendor
  • Create and maintain custom messages within the billing statements
  • Provide a General Ledger (GL) batch handoff to an external system
  • Generate operational reports on transactions, balances and statuses & other data
  • Charge periodic maintenance fees for loan servicing