The Loan Origination module is a module designed strictly for banks running T24. The module is used to capture and process loan applications within T24. Loan origination processes are usually "Off Balance Sheet" processes which are not the priority of most traditional banking solutions.

Most implementation processes are greatly lengthened by the need to create a customised alternative to handle this crucial task. Alternatively, significant funds are invested in different systems requiring different skills and training.

This module takes away this dilemma for banks running T24 as it provides the solutions from within T24 itself.

Each Loan application is assigned a unique "ID" using standard T24 "ID" format. Various stages of the application process are monitored using a check-list methodology. Limitless number of processing stages can be created as applicable to the bank. Rules and validation requirements can be easily setup to ensure validity of all processes. The module generates all figures online ensuring that quotes are accurate and well understood. It is able to create a temporary amortisation schedule for the client. This schedule can be viewed as a "trial-calculator" that can be fully structured.

The module can be driven by very complex product definitions by integration with the "Rules" application. Range rules (min & max rules), default values, restricted options are only some of the rules easily applicable.

The loan origination module directly integrates with both the "Rules & Structured deals" applications which are also available from South Atlantic Solutions. The process is driven by a flexible set of rules resulting in the automatic creation of associated contracts and records. It enables work-flow tracking to be done and also allows the attachment of controls to tracking sequences.

All accounting entries expected are automatically created  when a contract is generated. These include loan "draw-downs" and associated disbursements. It references the Credit Limit module as well as the Collateral requirements for the product.

It is flexible, easy to use and easy to deploy. It supports the "Local Reference" T24 functionality allowing for additional information and customization. All other T24advantages are fully applicable.