VERILOAN GUIDE - MICROSOFT

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VERILOAN GUIDE - MICROSOFT
VeriLoan Guide

Date:        14th Apr 2020

Prepared by: VeriPark

Version:     1.0
VERILOAN GUIDE - MICROSOFT
Table of Contents

     1    Introduction .................................................................................................................................. 4
     2    Personas ........................................................................................................................................ 5
     3    Eligibility Check – Personal Loan Application ......................................................................... 6
     4    Eligibility Check – Credit Card Application ........................................................................... 15
     5    Eligibility Check – Mortgage Loan Application ................................................................... 22
     6    Eligibility Check – Auto Loan Application ............................................................................. 31

VeriLoan Guide                                                                                                                Page 2 of 40
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CONFIDENTIALITY AND NON-DISCLOSURE
    The material contained in this document contains proprietary, confidential information
    pertaining to VeriPark products and methods. By receiving this document, the recipient hereby
    agrees that the information in this document shall not be disclosed beyond the authorized
    recipients that are specified in VeriPark contracts.

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VERILOAN GUIDE - MICROSOFT
1    Introduction

     Before applying for a loan, many customers wish to understand the complete loan structure
     including the applied interest rate, monthly installment amount, total repayment amount and
     all the processing fees or charges associated with the loan products. They wish to understand
     the impact of certain loan parameters such as tenor on the total repayment amount and the
     monthly installment amount. For example, sometimes customers are not sure on the tenor
     that they wish to apply. They want to take this decision based on the monthly installment
     amount that they will have to pay.

     Simultaneously, they also want to understand the terms and conditions that are associated
     with the product and find out if they are eligible for loan right at the beginning of the loan
     application. Customers do not want to wait until the end of the loan approval process to find
     out they are not eligible or that they do not comply with any of the bank’s policy. They always
     expect banks to take pro-active actions while servicing.

     The Retail Loan Calculators and Eligibility Check in VeriLoan are built to address such queries
     and challenges. The process starts with Loan Calculators where the Sales Person can check
     the monthly installment amount, calculated by system, by selecting various combinations of
     tenor and loan amount. Once the customer confirms the loan details, Sales Person can go
     ahead and capture customer details to review their existing deposits and liabilities; and
     conduct a policy check for the system to integrate with bank’s internal systems and any
     external systems such as credit bureau to confirm the eligibility of the customer for the
     requested loan product.

     The eligibility check results into an offer letter, which is valid for 2 weeks, and the customer
     can choose to apply right away or come back at later time to apply. Once the offer is
     accepted, user can convert the eligibility check into a Retail Loan Application.

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VERILOAN GUIDE - MICROSOFT
2    Personas

     The demo method uses a Sales Person as the presenter, who is accessing VeriLoan Retail
     LOS App. He gets in contact with an existing customer of the bank and a new to bank
     customer and performs the eligibility check based on customer’s request.
     1. For Sales person persona – The Sales Person ‘Martin Baros’ uses the Eligibility Check App
        Source when the customer contacts him.
     2. For Existing Customer persona – The existing customer ‘Archie Andrews’ wants to apply
         for different loans at different life stages.
     3. For New Customer Persona – A new customer ‘Adam Smith’ wants to apply for an auto
         loan.

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3    Eligibility Check – Personal Loan Application

     “Archie Andrews, an existing customer contacts his Bank and gets in touch with the Sales
     Person, Martin Baros. Archie is looking for a personal loan for an upcoming life event i.e.
     Marriage. He wants to know the interest rate that bank would charge and the monthly
     installment amount, if he borrows a loan of $10,000.00 for 12 months. However, at this point
     he is not sure if he wants to pay back the loan over 12 months or 24 months. Archie wants to
     decide this based on the Monthly Installment Amount that he will have to pay. He asks such
     questions to the Sales Person and Martin opens the Personal Finance Calculator to find out
     the interest rate and monthly installment amount.”

     1. Navigate to VeriLoan  VeriLoan Retail LOS App  Personal Finance Calculator.

     2. Slide the ‘How much you would like to borrow?’ slider to $10,000.00.

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VERILOAN GUIDE - MICROSOFT
3. Slide the ‘Over how many months would you like to pay back?’ slider to 12.

     “Personal Finance Calculator shows the Monthly Installment Amount as $860.66 and Martin
     communicates the same to Archie. Archie thinks he can pay off this amount every month,
     however, he still wishes to go ahead and the check the difference if he applies for 24 months,
     instead of 12. System shows that the monthly installment amount for a loan amount of
     $10,000.00 over 24 months is $443.21.”

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“Martin discusses the amount, interest rate that bank will charge and finally Archie settles down
     for a loan amount of $10,000.00 to be paid over 12 months. Martin goes ahead and initiates
     eligibility check for Archie Andrews under Personal Finance product, to check if Archie is eligible
     for the requested loan amount.”

     4. Click on Apply on the Personal Finance Calculator.

     “System initiates eligibility check for product Personal Loan and Martin selects the customer as
     Archie Andrews.”

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5. Select Applicant as Archie Andrews.

     “System auto populates customer details from Archie’s customer profile and shows it under
     Primary Applicant section. Martin confirms the existing details and checks with Archie if there
     is any change in employer, monthly salary and existing monthly liabilities. In case, there is any
     change, Martin can override details by changing the Override Existing Data to Yes. Assuming
     there is no change in the existing details; Martin goes ahead and saves the application.”

     6. Click on Save.

VeriLoan Guide                                                                       Page 9 of 40
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“Once the application is saved, system generates an eligibility tracking number and populates
     the list of applicant’s In-House Liabilities and In-House Deposits. These are the loans and
     deposits of the customer with the bank and Martin can see this information to know the
     outstanding amount of the loan and the available balance of the deposit.”

     “Martin moves ahead to conduct a basic eligibility check on the customer and checks if Archie
     is eligible for the amount he has requested for under the product as Personal Loan.”

     7. Click on ‘Capture Applicants’ Stage icon and click on Next Stage.

     “The Requested Amount and Tenor gets auto populated from the Personal Finance Calculator,
     thus providing the ease of skipping the step of capturing same information again.”

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8. Select the commencing date as 1st of Next Month.

     9. Click on “Check Policy” Ribbon Button.

     “The ‘Check Policy’ button here allows Sales Person to do a Light Eligibility check on the
     customer, using his salary, liabilities and other policy parameters. VeriLoan passes these
     parameters to the Rule engine, which in turn performs the needed calculations and validations,
     and returns the eligibility status. Rule engine allows business users and system administrators

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alike to create complex rules according to bank and product policies in a simple and
     straightforward manner via a user-friendly interface.”

     10. System will check the eligibility of the applicant and display details such as Eligibility,
         Eligible Amount, Processing Fee and Existing DBR (%) and DBR After (%).

     11. System populates the “Policy Exceptions” and “System Check Results” sections with:

             a. List of exceptions if the customer violates any saved business policy.

             b. List of system checks performed on the customer by integration with bank’s
                internal systems like AML, Internal Blacklist, External Blacklist, etc.

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12. System populates the Credit Bureau Score, Internal Credit Score and Scoring Decision by
         integrating with credit bureau and bank’s internal system.

     “System shows that Archie is eligible for the requested loan amount for a personal loan and
     Martin goes ahead and presents Archie with a provisional offer letter that is valid for 2 weeks.
     Archie can check the repayment schedule attached to the provisional offer letter and can
     understand the breakdown of interest amount, total repayment amount and monthly
     installment amount to be paid until the end of tenor.”

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13. Click on “Offer Letter” Ribbon Button.

     “Archie was happy with the interest rate provided by the bank and decides to go ahead with
     the loan application. On receiving loan confirmation, Martin goes ahead and applies for the
     loan in Retail Loan Origination System.”

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4    Eligibility Check – Credit Card Application

     “Once Archie agrees on a Personal Loan Application, Martin tries to cross-sell a Credit Card
     and elaborates on the card features and benefits. Martin opens the Credit Card Calculator,
     selects the nature of Archie’s employment, confirms his monthly salary and captures the card
     limit that he would be interested to apply for.”

         1.   Navigate to VeriLoan  VeriLoan Retail LOS App  Credit Card Calculator.

         2. Select the option ‘What is the nature of your employment?’ as ‘Salaried’.

         3. Select the ‘How much is your monthly salary?’ slider to ‘$8,500.00’.

         4. Select ‘How much card limit are you looking for?’ slider to ‘$12,000.00’

         5. Select ‘Do you need a Supplementary Card?’ option as ‘No’.

         6. Click on Apply.

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“System initiates an eligibility check record for Credit Card, where Martin chooses Archie
     Andrews as the customer and system populates Archie’s details from the customer profile.”

         7. Select the Applicant as ‘Archie Andrews’.

         8. Check all the details under Primary Applicant Details section.

         9. Click on Save.

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“Once the application is saved, system generates an eligibility tracking number and populates
     the list of applicant’s In-House Liabilities and In-House Deposits. These are the loans and
     deposits of the customer with the bank and Martin can see this information to know the
     outstanding amount of the loan and the available balance of the deposit.”

     “Martin moves ahead to conduct a basic eligibility check on the customer and checks if Archie
     is eligible for the credit card limit that he is interested in.”

     14. Click on Capture Applicants stage and select ‘Next Stage’.

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“The Requested Card Limit gets auto populated from the Credit Card Calculator, thus providing
     the ease of skipping the step of capturing same information again.

     Martin goes ahead and conducts a policy check to see Archie is eligible for the requested card
     limit.”

     15. Click on “Check Policy” Ribbon Button.

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16. System will check the eligibility of the applicant and display details such as Eligibility,
         Eligible Amount, Processing Fee and Existing DBR (%) and DBR After (%).

     17. System populates the “Policy Exceptions” and “System Check Results” sections with:

             a. List of exceptions if the customer violates any saved business policy.

             b. List of system checks performed on the customer by integration with bank’s
                internal systems like AML, Internal Blacklist, External Blacklist, etc.

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18. System populates the Credit Bureau Score, Internal Credit Score and Scoring Decision by
         integrating with credit bureau and bank’s internal system.

     “System shows that Archie is eligible for credit card with a card limit of $12,000.00 and Martin
     goes ahead and presents Archie with a provisional offer letter that is valid for 2 weeks.”

     19. Click on “Offer Letter” Ribbon Button.

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“Archie checks the terms and conditions of the card along with other fees and charges
     associated with it and decides to go ahead with the offer. On receiving customer’s confirmation,
     Martin goes ahead and applies for the Credit Card in Retail Loan Origination System.”

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5    Eligibility Check – Mortgage Loan Application

     “Archie Andrews, an existing customer of the bank, contacts his Sales Person, Martin Baros,
     and is looking for a mortgage loan to buy a house worth of $600,000.00. Archie wants to know
     the required down payment as per bank’s policy and the interest rate that the bank can offer.
     To address such questions, Martin opens the Mortgage Finance Calculator and captures the
     cost of property along with other details such as, how much down payment can be made and
     the tenor for which Archie wants to borrow the loan; to check the monthly installment amount
     calculated by the system.”

     1. Navigate to VeriLoan  VeriLoan Retail LOS App  Mortgage Finance Calculator.

     2. Slide the ‘How much is the cost of the property that you wish to buy?’ slider to
        $600,000.00.

     3. Slide the ‘How much down payment can you make?’ slider to $120,000.00.

     4. Slide the ‘Over how many years would you like to pay for?’ slider to 20.

     5. System will auto adjust the slider for ‘Your total amount will be:’’ to $480,000.00.

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“Mortgage Finance Calculator shows the Monthly Installment Amount as $3167.79 with an
     interest rate of 5% over a tenor of 20 years and Martin communicates the same to Archie.
     Archie agrees to the loan details and Martin goes ahead and initiates eligibility check for Archie
     Andrews under Mortgage Finance product, to check if Archie is eligible for the requested loan
     amount and to see if the down payment amount offered by Archie is within the bank’s policy.”

     6. Click on Apply.

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“System initiates eligibility check for product Mortgage Loan and Martin selects the customer
     as Archie Andrews.”

     7. Select Applicant as Archie Andrews.

     “System auto populates customer details from Archie’s customer profile and shows it under
     Primary Applicant section. Martin confirms the existing details and checks with Archie if there
     is any change in employer, monthly salary and existing monthly liabilities. In case, there is any
     change, Martin can override details by changing the Override Existing Data to Yes. Assuming
     there is no change in the existing details; Martin goes ahead and saves the application.”

     8. Click on Save.

VeriLoan Guide                                                                       Page 24 of 40
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“Once the application is saved, system generates an eligibility tracking number and populates
     the list of applicant’s In-House Liabilities and In-House Deposits. These are the loans and
     deposits of the customer with the bank and Martin can see this information to know the
     outstanding amount of the loan and the available balance of the deposit.”

     “Martin moves ahead to conduct a basic eligibility check on the customer and checks if Archie
     is eligible for the amount he has requested for under the product as Mortgage Loan.”

     9. Click on the Capture Applicant stage and click on Next Stage.

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“Martin lands on Check Eligibility stage and the Cost of Property, Down Payment and Tenor
     are auto populated from the Mortgage Finance Calculator, thus providing the ease to Sales
     Person of skipping re-entering the information.”

     Note: Tenor captured on calculator is in years and it gets auto converted into months by the
     system, once an eligibility check record is saved and user lands on Check Eligibility stage.

     10. Select the Developer - Crest Nicholson and Project - Angel Meadow.

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11. Select the commencing date as 1st of Next Month.

     12. Click on “Check Policy” Ribbon Button.

     “The ‘Check Policy’ button here allows the Sales Person to do a Light Eligibility check on the
     customer and calculates the required loan amount based on the cost of property and the down
     payment fields. System also checks if the down payment amount is less than 20% of the Cost
     of Property. If yes, then system auto updates the field value to 20% of Down Payment. For
     example, if the Cost of Property is $600,000.00 and the user inputs down payment as
     $100,000.00, then system will auto adjust the field value to $120,000.00, thus implying that the
     user cannot apply for a loan if they cannot make a down payment of 20%.

     VeriLoan passes the parameters such as salary, existing liabilities and cost of property to a Rule
     engine, which in turn performs the needed calculations and validations, and returns the
     eligibility status, requested amount and down payment amount based on the saved configured
     business rules.”

     13. System auto calculates the Requested Amount = Cost of Property – Down Payment.

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14. System will check the eligibility of the applicant and display details such as Eligibility,
         Eligible Amount, Processing Fee and Existing DBR (%).

     15. System populates the “Policy Exceptions” and “System Check Results” sections with:

             a. List of exceptions if the customer violates any saved business policy.

             b. List of system checks performed on the customer by integration with bank’s
                internal systems like AML, Internal Blacklist, External Blacklist, etc.

VeriLoan Guide                                                                       Page 28 of 40
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16. System populates the Credit Bureau Score, Internal Credit Score and Scoring Decision by
         integrating with credit bureau and bank’s internal system.

     “System shows that Archie is eligible for the requested loan amount for a mortgage loan and
     Martin goes ahead and presents Archie with a provisional offer letter that is valid for 2 weeks.
     Archie can check the repayment schedule attached to the provisional offer letter and can
     understand the breakdown of interest amount, total repayment amount and monthly
     installment amount to be paid until the end of tenor.”

     17. Click on “Offer Letter” Ribbon Button.

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“Archie is happy with the interest rate provided by the bank and decides to go ahead with the
     loan application. On receiving loan confirmation, Martin goes ahead and applies for the loan
     in Retail Loan Origination System.”

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6    Eligibility Check – Auto Loan Application

     “Mr. Adam Smith wants to apply for an auto loan to buy a new car. With reference from Archie
     Andrews, he contacts our bank’s Sales Person, Martin Baros, to apply for an Auto Loan as a
     new to bank customer. Martin is happy to assist and opens the Auto Loan Calculator to check
     the interest rate that would be applied on the requested loan amount and the monthly
     installment amount that Adam has to pay.”

         1. Navigate to VeriLoan  VeriLoan Retail LOS App  Auto Finance Calculator.

         2. Capture following details on calculator.

                 a. Select the type of vehicle that you wish to buy = New

                 b. How much is the price of vehicle that you wish to buy? = $40,000.00

                 c. How much down payment can you make? = $ 8,000.00

                 d. Over how many months would you like to pay? = 60

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“Martin shows Adam that the total loan amount will be $32,000.00 with the monthly
     installment amount of $577.13 over a tenor of 60 months. Being happy with the offered rate
     and installment amount, Adam agrees to go ahead with the application.”

         3. Click on Apply on Auto Finance Calculator.

     “System initiates eligibility check for product Auto Loan and Martin creates a new contact to
     select it as the customer.”

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4. Click on Applicant and select New Contact.

         5. System will open a quick create form for the Sales Person to fill necessary details and
            create a contact in the system for further processing. Enter below contact details.

                 a.   First Name – Adam

                 b. Last Name – Smith

                 c. Nationality – Unites States

                 d. Date of Birth – 15/04/1990

                 e. Mobile Phone – 396 459 047

                 f. Employer – Med Corp

                 g. Occupation – Accountant

                 h. Length of Service – 36

                 i.   Monthly Salary - $9,000.00

                 j.   Existing Monthly Liabilities - $3,000.00

         6. Click on Save and Close.

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7. System saves the applicant as Adam Smith, populates the captured details under
            ‘Primary Applicant’ details section. Click on Save to create an eligibility check record.

     “Once the application is saved, system generates an eligibility tracking number and Martin
     moves ahead to conduct a basic eligibility check on the customer to gather the customer’s
     credit score and check if he is eligible for the amount he has requested for under the product
     as Auto Loan.”

     18. Click on the Capture Applicant stage and click on Next Stage.

VeriLoan Guide                                                                       Page 34 of 40
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“Martin lands on Check Eligibility stage and the Type of Vehicle, Cost of Vehicle, Down Payment
     and Tenor gets auto populated from the Auto Finance Calculator, thus providing the ease to
     the Sales Person to not re-enter the information.”

     19. Select the Car Make as BMW and Car Model as 325I.

     20. Select the commencing date as 1st of Next Month.

     21. Click on “Check Policy” Ribbon Button.

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“The ‘Check Policy’ button here allows Sales Person to do a Light Eligibility check on the
     customer and calculates the required loan amount based on the cost of vehicle and the down
     payment fields. Based on the Car Make, system checks if the down payment amount is less
     than 20% of the Cost of Vehicle. If yes, then system auto updates the field to the required Down
     Payment amount. For example, if the Car Make is BMV, Cost of Vehicle is $400,000.00 and
     the user inputs down payment as $6,000.00, then on conducting policy check, system will auto
     adjust the field value to $8,000.00, thus implying that the user cannot apply for a loan if they
     cannot make a down payment of 20%.

     Note: Based on the Car Make, there are different business rules saved for down payment
     calculations. Some of Car makes like ‘Audi’ will allow down payment as 10% while others will
     allow down payment as 20%.”

     “Alternatively, system allows users to enter the down payment above the saved percentage in
     the business rules. Therefore, if user wants to make a down payment of 30% instead of 20%,
     system will allow the user to go ahead and will adjust the Requested Amount accordingly as
     seen below.”

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“VeriLoan passes the parameters such as salary, existing liabilities and cost of vehicle to a Rule
     engine, which in turn performs the needed calculations and validations, and returns the
     eligibility status, requested amount and down payment amount based on the saved configured
     business rules.”

     22. System auto calculates the Requested Amount = Cost of Vehicle – Down Payment.

     23. System will check the eligibility of the applicant and display details such as Eligibility,
         Eligible Amount, Processing Fee and Existing DBR (%).

VeriLoan Guide                                                                       Page 37 of 40
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24. System populates the “Policy Exceptions” and “System Check Results” sections with:

             a. List of exceptions if the customer violates any saved business policy.

             b. List of system checks performed on the customer by integration with bank’s
                internal systems like AML, Internal Blacklist, External Blacklist, etc.

     25. System populates the Credit Bureau Score, Internal Credit Score and Scoring Decision by
         integrating with credit bureau and bank’s internal system.

VeriLoan Guide                                                                       Page 38 of 40
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“System shows that Adam is eligible for the requested loan amount for an auto loan and
     Martin goes ahead and presents Adam with a provisional offer letter that is valid for 2 weeks.
     Adam can check the repayment schedule attached to the provisional offer letter and can
     understand the breakdown of interest amount, total repayment amount and monthly
     installment amount to be paid until the end of tenor.”

     26. Click on “Offer Letter” Ribbon Button.

VeriLoan Guide                                                                       Page 39 of 40
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“Adam is happy with the interest rate provided by the bank and decides to go ahead with the
     loan application. On receiving loan confirmation, Martin goes ahead and applies for the loan
     in Retail Loan Origination System. On approval of the loan in Retail LOS, system will initiate
     the process of customer on boarding.”

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