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Intelligent Automation

By now you’ve heard a lot about artificial intelligence, or AI—but at TCI we’ve got something that’s even more important for financial institutions: IA, or Intelligent Automation.

The IA built into DecisionLender 4 gives you the power to automate what has traditionally been a manual process and transform it into a systematic, digitized, automated procedure with as many personal touch points as you want to maintain. More than just the means to auto-decision, DecisionLender 4 gives you the unmatched control to automatically implement if/then rules to make subtle adjustments that would otherwise need to be made manually by an underwriter and to route applications to the proper authority. Let’s take a look at the process, from start to finish.

Application enters the system—from any source—and DecisionLender 4 automatically prepares the file

  • Loan application can be entered from any source, including:
    • branch
    • call center
    • mobile phone
    • website
    • merchant
    • Decision Lender Portal
    • Dealer Track
    • Route One
    • CUDL
  • Everything needed for the application and file are automatically prepared according to your credit policies.
  • Third-party data such as credit bureau,alternative data, automobile valuation, ID verification or OFAC data is pulled.
  • Utilize additional 3rd party alternative data solution providers to enhance your decisioning capabilities.
  • Calculations such as DTI and LTV are calculated according your way.

Decisioning and queue routing are fully automated

  • Automated decisioning occurs as directed, including auto-approval, auto-decline, automated counteroffers and more with instantaneous results transmitted to the loan source.
  • Policies are automatically enforced.
  • The system highlights any failed policies.
  • When using a manual process, the application can be sent to a queue for underwriter review where the underwriter can view the credit reportand make modifications so the deal fits within your guidelines.

Loan offer with stipulations transmitted to merchant or borrower

  • The loan offer is electronically sent, with stipulations clearly indicated.
  • Attach stipulations anywhere, in-branch, at a merchant point of sale, or from your mobile device by taking a picture of the stipulation with your phone.

Electronic document package is prepopulated and sent for signature

  • Once the loan offer is accepted and stipulations submitted, acompliant loan package from your preferred forms supplier, or your own custom loan package is generated.
  • The loan package, including all correct corresponding forms for that lending channel, is prepopulated with complete, accurate information.
  • Because all forms are stored in DecisionLender 4, the correct forms are always sent to dealers and retailers, increasing compliance while reducing the waste and expense of paper forms.
  • The signature required on all forms can be captured via eSignature or printed out and signed on paper.

Loan package signed at any location

  • Our eSignature process allows the loan package to be electronically signed at the consumer’s convenience, at any location—even if the cosigner is in an entirely different location.
  • After identity verification, the borrower enters the signing room and is walked through each step, ensuring that all forms in the loan package are completed correctly.
  • A verifiable and legally enforceable signature is captured on every required document in the loan.

Funding file is reviewed and approved

  • The proprietary funding rules engine enforces funding policy.
  • Missing stipulations are shown as unsatisfied.
  • Calculations for Regulation Z and Carleton/APR and usury limits are done in real time, for all 50 states.
  • After determining that all the stipulations and the loan package are complete, the dealer or borrower is notified that the loan has been funded.
  • Funding information is sent to the servicing system.

ACH files are prepared

  • DecisionLender 4 cangenerate the NACHA file necessary for ACH and transmit it to your servicing system.
  • There is a real-time transfer of the loan package to the core.

And just like that, the deal is closed! The merchant has funds, the lender begins earning interest, the consumer enjoys the product—everyone is satisfied with a rapid, secure, compliant and audit-documented process.