The volatility of South Africa`s financial services loan market is expressed almost daily in bold newspaper headlines. Banking mergers and consolidations are a current fact of life. To address these pressures and those of looming e-business, financial services institutions need reaction times that are quick and cost effective. They also require flexible, proactive, parameter driven financial systems.
This is tough. Traditional loan and bond administration systems have been hard put to keep pace with their own maintenance requirement, let alone address the market squeeze and demand for e-business loan / bond management and their associated processing systems.
JMR Software has reined in this wayward e-challenge with eMerge Loan from Sapiens.
A leading global e-business provider, Sapiens provides strategic end-to-end solutions for the rapid development of mission-critical software applications.
"What sets Sapiens apart is that it allows companies to capitalise on existing IT assets in their conversion quest to new enterprise e-business," says Etienne Stroebel, Account Manager at JMR Software.
eMerge Loan is one of a bouquet of blue-chip solutions offered by JMR`s Sapiens; eMerge Insure and eMerge Supply Chain, as well as cross-industry offerings; eMerge and euromigration, apply dynamic new business models and processes for e-business.
eMerge Loan is a user-powered, web-enabled loan and bond processing and administration solution for lenders, banks and financial institutions. It empowers financial service companies to launch new loan and bond products rapidly, and to process transactions cost-effectively and efficiently.
The system has full multi-currency support for cross-selling and it processes rapidly for fast decision-making and penetration of new products and services. With eMerge Loan, Sapiens has introduced a level of flexibility that opens the field for extensive user-customisation. It comprehensively processes a wide range of loan products including: unsecured personal loans, secured personal loans, hire purchase agreements, residential bonds and commercial bonds.
JMR Sofware ensures that eMerge Loan`s built in e-business and on-line processing is Internet-ready and up and running in rapid time.
There are some exceptional features bundled as standard options; these include advanced "single view" customer relationship management (CRM), extensive pipeline management reporting and "securitisation standard" portfolio management and reporting.
eMerge Loan`s multi-currency customer pricing allows lenders to offer loans in any currency; there are multiple exchange rate inputs for each currency and separate base loans in which management reporting and currencies are incorporated. eMerge Loan`s user-customisation and development tools liberate retail financiers to be extra proactive; they can provide agile and speedy customer service while nurturing new business. Financiers can reap the advantages of selective application underwriting, increased automation, reduced database maintenance and extensive default-management reporting and information.
The eMerge Loan application framework consists of five primary components. At the core is the System Tables Module that provides the financiers with Product and Procedural Templates that enables extensive user-customisation and facilitates rapid product development. The System Tables Module - in combination with other ancillary databases - and the Customer Database Module interact directly with the three main modules for Quotation, Application Processing and Loan Processing.
The product will run on most platforms including IBM mainframe environments AS/400 or UNIX. It can also be migrated from one platform to another and use different data base management systems. Using GUI front end, the system can be customised to use "dumb" terminals as well as PCs, it can also perform as an `Internet Server`; the Internet becomes the communication architecture for Extranet users. The customer chooses IBM mainframe, flavours of Unix or AS400, and a fully integrated web-enabled system is activated.
Financial retail corporations constantly refine procedures to efficiently meet customer demands and market changes. eMerge Loan can ease such objectives with its Application Processing, Correspondence, Quotation and Repayment Loan Processing modules and its unique Procedural Templates structure, which allows financiers to control the loan application process. Third Party Interfaces save time and error by capturing valuable third-party reference databases such as the postal address system - which returns a near full address from a postcode.
eMerge Loan provides a central source of customer information which gives a truly customer-focused service - a total view of the customer and their relationship with their chosen financial service . eMerge Loan`s CRM facilitates cross-selling opportunities, tailored marketing to specific customer groups and monitors their overall exposure to geographic or industry-concentric areas.
The journey to fully transparent accountability has been slashed; JMR Software and Sapiens have provided a crucial oases of certainty to boost profits and shareholder value.