Co-Appicants or Gurantors

Enter and view co-applicants details

When an application is being submitted, it is possible to additionally provide details of a co-applicant (AKA Guarantor). These details can be entered from the both Borrowers' Portal and Back Office

1. Borrowers can add them when registering for a loan

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2. Originator can add and manage Co-Applicant details from the Co-Applicant tab

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The list of Co-applicant's details out-of-the-box contains their contact details and personal information and the relationship with the borrower,

Once details have been added, they can be edited by the Originator.

Once the application has been sent for approval, other back-office users can see the Co-applicant’s details in the corresponding tab but cannot edit it. If the information has to be edited, as for any other details of the customer in the past origination phases, the loan application has to be sent for reprocessing,

The use of the co-applicant’s details

Decision Engine

Once information about a co-applicant has been provided, it can be used by the decision engine. Fraud prevention and application check rules are by default available and can be defined. Moreover, if the integration with a credit bureau has been integrated and includes the collection of the co-applicant details, there is a dedicated out-of-the-box set of rules for the check results.

Notifications

There are also some out-of-the-box notifications to inform the co-applicant when they have been mentioned in the loan application, have been disbursed, or paid off.