PROFILE Software, a financial solutions provider, announced today the release of its next-generation FMS Financing solution. This is an enhancement of PROFILE‘s FMS Universal banking platform to automate and streamline Financing operations, from financing request and quotation to the facility maturity including powerful debt collection and recovery procedures. The solution supports a rich set of functionalities, powered by FMS’ sophisticated modules:
· Know Your Customer (KYC): FMS’ powerful KYC facility allows the identification of relationships between customers and/or accounts beyond the contractual one; this approach facilitates the quick identification of any existing relationship of the prospect customer with the Bank, whether it concerns previous applications and their outcome, current credit risk status or any other relationship, internal or external, as typically such information are available through national credit worthiness agencies and watch-lists.
· Credit Product Factory: This is a powerful engine for the Bank to rapidly design, deploy and maintain products for different market segments. It provides all the necessary tools to centrally define and disseminate the Bank's credit policy, whilst building unique, Bank-specific offerings.
· Loan Application Processing: This module automates the full life-cycle of credit applications from their setup, to their evaluation and issuance of credit to applicants. It also supports all credit portfolio restructuring processes. Its embedded scoring engine allows for the modelling of any credit scoring algorithm and the inbuilt powerful workflow engine supports the administration and monitoring of complex credit origination processes. Document archiving, performance statistics and email/SMS alerts come as a standard.
· Collaterals Management: Aiming at securing the Bank’s exposure, this FMS module provides sophisticated setup and management of credit lines and collaterals. Hierarchically structured corporate and retail credit lines, combined with complex valuation policies for any collateral type, safeguard credit coverage at Bank level in real time.
· Collections and Debt Recovery: This module aims at securing the collection of creditors’ outstanding obligations and the recovery of the creditors' debt. Workflows for both temporary delayed facilities and legally denounced contracts are centrally defined, ensuring that Bank officers are appropriately guided throughout the collection process according to Bank policies.
The above modules are native parts of the FMS Universal Banking platform designed to help Financial Institutions facilitate and streamline their operations while safeguarding their investment with an easy to use and customisable solution.
PROFILE continuously invests in the development and enhancement of its FMS Universal banking platform to accommodate the demanding requirements of the financial services environment helping organizations to deliver exceptional client service and achieve operational efficiency.