1.2 Originations

The following enhancements have been made in the Originations module in this release:

Table 1-3 Enhancements in Originations

Enhancements	Description
Enhanced Guardian Information Capture in Retail Education Loans	The Retail Education Loan Application form has been updated to capture extensive guardian information. The applicant can specify whether the guardian is an existing customer of the bank or has no prior relationship with the bank. If the guardian is an existing customer of the bank only the name, date of birth and customer ID of the guardian need to be provided. If the guardian is new to the bank, the applicant can specify information comprising of the guardian’s basic personal information, identity and contact information.
Online KYC Maintenance Enhancement	As of this release, the OBDX Origination Workflow Maintenance has been updated so as to enable the bank administrator to enable or disable the Online KYC step in the application form of a product category. If enabling the Online KYC step, the administrator can specify the mode of Online KYC to be enabled i.e., either Selfie KYC or National ID Verification.
Relationship based loan interest rates	The Relationship based pricing feature enables banks to reward customers that have existing accounts, investments, or a strong banking history with a lower interest rate as a reward for their engagement with the bank. 2-6 An EMI Calculator has been added against all unsecured personal loan products and can be accessed by existing customers of the bank by selecting the ‘Calculate EMI’ option present on each product card on the Unsecured Personal Loans listing page. Once the customer enters the loan amount, tenure and other required information on the EMI Calculator screen, the system will calculate and present the customer with a preferential rate of interest that is derived with the help of the PDS tool considering the customers relationship with the bank. The customer will be able to view the breakdown of the interest rate and can also view the loan repayment schedule. If the customer finds the interest rate suitable, they can apply for the loan on the EMI calculator screen itself by selecting the Apply Now option. The loan amount and other information entered on the EMI Calculator is then pre-populated on the Loan Information screen in the application form that is generated. This feature is available when OBRL is the host system and at present is available in OBDX for Unsecured Personal Loan products for the US region.

Other Enhancements

Table 1-4 Other Enhancements

Enhancements	Description
Interest Rate Types for Loans	In case the loan product being applied for supports both fixed and flexible interest rates, then the applicant will be provided with the option to make a selection on the Loan Information section of the application form. This field has also been added on the EMI calculator of Personal Loan products available to existing customers. This enhancement is applicable to all loan product applications across Retail Generic (ROW), Retail US LZN and SMB.
Units to capture loan tenure	The units supported for a loan product (Years, Months and Days) to capture the loan tenure can vary as maintained in the mid-office. Hence, there has been an enhancement made in OBDX to only display those units to capture loan tenure in the application form that are supported for the loan product. These can be a combination of Years, Months and Days. This enhancement is applicable to all loan product applications across Retail Generic (ROW), Retail US LZN and SMB.
Offer Letter Rejection Reason	This enhancement is applicable to retail loan applications as well as retail savings and checking applications in which the applicant has opted for overdraft. If the applicant rejects the loan or overdraft offer from the application tracker, they are required to provide a reason for which the offer is being rejected. The means to capture the rejection reason has been updated in the mid-office system. Hence, this feature has been enhanced in OBDX as well to enable the applicant to select multiple reasons, as required.
Interest Payout Frequency for Deposits	This feature is applicable when the host is RDEP. Previously the only interest payout frequency supported was Monthly. With this enhancement, the interest payout frequencies supported for the term deposit/certificate of deposit can be Weekly, Monthly, Quarterly, Half Yearly, and Yearly.
Retail Unsecured Personal Loans for Women	This feature is specific to the Retail Unsecured Personal Loan applications in the US region and has been introduced so as to facilitate loans designed by the bank specifically for women. Hence, the field Gender has been added in the Personal Information section of Retail US LZN Unsecured Personal Loan application forms. This field will be mandatory for all Retail US LZN Unsecured Personal Loan application forms that are designed specifically for women and if the applicant selects any value other than ‘Female’ they will not be able to proceed with the application form.
US region specific changes	The field to capture Statement Mode has been removed from under the Account Specifications sections for checking accounts, savings accounts and certificates of deposit product application forms. The field 'Rank' has been added under the list of fields captured if the applicant is a serving defence officer or is a dependent of a serving defence officer. This information is captured only for Credit Cards and Unsecured Personal Loans applications.
Application Form PDF enhancement	The Application Form PDF, containing all the information that was entered in the application form and available to the applicants from the application tracker, will be generated by the mid office (OBO) system as per standard template. Previous to this release, it used to be generated by OBDX.