Financial products supported

CoreView gives financial services companies the possibility to offer a wide range of financial products in business areas comprising leasing, consumer financing, vehicle and equipment financing, mortgage loans, deposit and factoring.

This has been achieved through a highly flexible product set-up giving financial services companies the possibilities to tailor products to meet market demand and expanding the business.

Leasing

CoreView supports both operational and financial lease with virtually no restrictions to the type of asset to be financed, spanning vehicles, equipment, machinery and real estate. A single leasing contract may involve leasing of multiple objects with the possibility to offer different financial terms within the same agreement. Assets or other financed components may be added or removed at any time.

Loan, hire purchase and other credit facilities

CoreView handles serial and annuity loans, with interest in advance or arrears, fixed or floating in any combination. A flexible payment plan allows changes in terms such as installment and/or interest exemptions, duration and residual value. Revolving credits can be handled with the same high degree of flexibility from no fixed down payments to installments linked to a percentage of outstanding debt or fixed monthly amounts.

Hire Purchase is in several markets a highly competitive alternative to regular loans or leasing. CoreView has extensive support for all lifecycle production steps for the hire purchase alternative.

CoreView is also highly suitable for handling of mortgage loans combining all the interest and payment options available to the other financing products, with mortgage specific requirements such as fixed interest contracts. It does also handle complex collateral structures.

Deposits

The deposit module handles fixed and floating interest deposits with optional links to interest indexes. Current accounts and deposits with special conditions such as fixed due dates and credit facilities are covered. The deposit account can be accessed through a user friendly web site allowing the depositor full access to own accounts with deposit and withdrawal facilities handled on the net.

Building a new financial product

A new product can dynamically be defined on 3 levels:

• On level one the basic product types are defined (loans with or without payment plans, financial and operational lease, hire purchase, revolving credits, deposit, factoring and guarantees).
• Within each base product type an unlimited number of sub-products can be set up with different chart of accounts, VAT rules, interest and fee rules, payment intervals and a number of related parameters.
• A base/sub product can finally gain market and customer adapted characteristics tailored to meet your market and business requirements.

Automation of processes

Cost effectiveness is closely linked to the diminishing of manual tasks. CoreView can be set-up to automatically handle most daily routines combined with monitoring and reporting on all deviations from predefined rules. Areas that can be handled with a very high level of automation are;

• Invoicing and payment processes
• Credit approval procedures
• Report and document distribution
• Periodical import and export routines

Workflows

CoreView combines functional richness with user friendliness. This is achieved through tailoring of the screen menus to satisfy each operator’s specific needs combined with user defined workflows.

Scalability and volumes

CoreView is based on a modern system platform and multilayer architecture with parallelization of tasks as one of many benefits. The result is a solution with a very good scalability, making it highly suitable as a backbone in a fast growing business.