TurnKey Lender is the world’s leading provider of Unified Lending Management solutions and services. With the TurnKey Lender Standard platform, we strive to deliver a one-stop end-to-end solution that grants a turnkey out-of-the-box experience to our clients.
This is a modular solution dedicated to automate every step of the digital and offline lending processes from the loan application creation, through its pay-off and servicing and up to the use of the closed loan details for future decisions. Subject to the company scale, different steps may be performed by the same person or numerous users. In order to provide a flexible platform with no excessive or unnecessary data for each specific user, TurnKey Lender is implemented as a set of stand-alone workplaces dedicated to a specific step or kind of the loan processing lifecycle.
How Workplaces Work
UI-wise, a workplace is a screen or set of screens available for a Back-Office user with specific permissions.
The ability to access the workplace and specific actions available from the screen depends on:
Permissions settings defined for this user
/wiki/spaces/TLKB/pages/403013904 (e.g. some products require collateral and others don’t, some products require 2-level verification)
Whether the loan application is assigned to the user.
How to Access Workplaces
Once you’ve logged in to the TurnKey Lender dashboard, at the top of each page you will see a menu with a list of all the workplaces available to your user.
Generally, one workplace provides all the screens and actions necessary to perform a specific Loan Statuses - Detailed Overview of a loan application processing, however, under some processes such actions may be distributed among several workplaces.
In many cases, a user can be granted access only to one or a couple of workplaces, and the decision on what workplaces shall be available is fully up to your company policies and role distribution.
Detailed Description
In the table, the workplaces (except settings) are placed in the order they are used supposedly in a typical Loan Application lifecycle.
Along with the actions listed below, at each workplace related to loan management (everything but Reports, Tools and Settings), it is possible to:
Leave a comment on the loan that will be visible to other Back-Office users. In case of a need, tag a specific user to send a notification about the comment.
Raise a flag on the loan or the customer
Initiate, manage, and register contacts with the customer
View the loan application status path
Workplace | Description | Actions available in the workplace | Loan Statuses | Required Permissions |
|---|---|---|---|---|
Origination | A Back Office user creates a loan application, provides basic details of the customer and the application, and sends it for further approval. In case of a need, the Back Office user can also cancel the application. If no additional checks have been added, the application will be sent for auto-processing. |
| Origination Reprocessing Pending initial payment | Loan Origination |
| Branch management | |||
| Assignment officer | |||
Collateral | If the credit product requires collateral and a corresponding loan application has been originated and sent for approval, this loan application is available on the Collateral workplace. It includes all the actions related to collateral, from its creation and assessment and to approving/rejecting the loan application based on the assessment results. |
| Collateral Past Due (if revaluation is required) Active (if revaluation is required) | Collateral management |
Risk Evaluation | If the credit product requires two-step verification and a corresponding loan application has been originated and sent for approval, this loan application is available in the Risk Evaluation workplace. It includes all the actions related to the initial verification of the loan and making decisions about the reasonableness of its further processing based on this assessment. | ONLY Risk Evaluation
| Waiting for approval | Risk Evaluation |
BOTH Risk Evaluation and Underwriting
| Blacklist | |||
Underwriting | Once a loan application has passed all the necessary preliminary checks, it is waiting for the final approval (which is followed by signing providing customer and offer and signing the loan agreement). All the actions related to such final approval of the loan application are performed in the Underwriting workplace. | Waiting for Approval Loan offer confirmation Gathering Investments Waiting for Customer Signature Bank account verification Pending initial payment Gathering Investments Approved Rejected | ||
ONLY Underwriting
and reject the loan if any of the preconditions haven’t been performed
| Underwriting | |||
Servicing | Once the loan agreement has been signed and the loan application has been approved for disbursement, it is available in the Servicing workplace. If the disbursement is performed by an integrated payment system, it is performed automatically. Servicing includes all the actions related to the loan from the moment of disbursement to the closure of the loan. | If the loan has not been disbursed automatically (due to the process or the disbursement failure) it is possible to:
| Approved Active Past Due | Blacklist |
On Servicing for all disbursed loans (including past due) & on Collection for past due loans
On Servicing & Collection only for past due loans
| ||||
Collection | If a loan payment is overdue the loan details will also be visible in the Collection workplace. Loans in the Collection workplace are also visible in the Servicing workplace and can be handled by the Loan Manager as described above. | Active Past Due | ||
Only on collection:
| Past Due | |||
Archive | After the loan application has been rejected, canceled, or fully repaid it is automatically archived and moved to the Archive workplace |
| Rejected Agreement Declined Agreement Expired Restructured Repaid | |
| Edit/Reverse repayment transaction | |||
Reports | At different stages of the loan application processing different users, including heads of the departments, employees, and managers may need specific reports, which are available in the Reports workplace. The workplace contains all the account reports including custom and built-in reports. The users granted access to the “Reports” (in permissions) can access the following built-in reports: |
| Subject to the report | |
Settings | This is a workplace of the company admin that allows managing all kinds of settings related to the company account and its processes |
| Not applicable | |
Tools | This is a set of tools, access to each of which can be granted specifically to a user. |
| Not applicable | Blacklist |