The origination process consists of the distribution of credit products to borrowers.
The originator is responsible for collecting the information necessary to generate a loan, meeting the needs of the issuer who will use this data for KYC, decision making, loan calculations, and rendering the loan agreements.
1) Get to know the Products. 🔍 📦
The first step of your journey is to know the products that you want to distribute. Each product requires a specific list of variables that you should collect when creating a person, a business, or an application.
2) Create person/business. 👩🏽🦰 /🏢
Now that you know which data to collect is time for creating persons and/or business that will participate in the loan. You will be able to discriminate the role (borrower, guarantor, partner, beneficiary, etc.) of each of these entities directly in the application.
3) Create applications. 📝
After getting your entities registered you'll be able to create applications with them just by indicating their id. You can create multiple applications, for different products, for the same person/business that you once registered.
A successful application will result in a loan agreement document containing all the conditions of the loan.
4) Collecting Signatures. ✍️
To seal the deal you must collect the e-signature of the borrower. With the contract signed, the issuer will be able to proceed with his internal process until payment is made to the beneficiary. These processes may vary according to the type of product and internal policies of the institution. Contact the issuer for more details on the internal flow of each product.