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Account Origination

Formerly the Akcelerant Framework account origination solution

Our innovative Account Origination module streamlines the application process, allowing prospective account holders or applicants to apply and be approved for a new account or product. During the same session, they can initiate, and in some cases complete, activities required for a wide variety of account origination services.

This dynamic solution, with its powerful decisioning, multi-channel capabilities, and highly customizable functionality will truly take the account origination experience to the next level.


Summary

Flexible technology

  • Configure the system to your institution’s specific business needs, including decisioning, screens, identity verification steps, actions, workflows, events and much more.
  • Limit administrative access, allowing specific, authorized users to manage the screen designer, workflow models and rules.
  • Support application and approval from any channel, including branch, call center, online, outsourced, mobile or tablet.
  • Customize and design the platform to correlate to your account origination procedures, whether centralized or distributed.

Single application for multiple products

  • Consolidate new account holder efforts into a single application platform, running decisioning for both debit and credit while allowing different departments to decision loan and credit applications separately.
  • Support processing for multiple products with cascading decisions for deposit, service, loan or referral, while only displaying new account screens when appropriate, saving users time and providing a streamlined process.
  • Control the order of decisions, requiring loan application disbursement before wasting valuable time performing activities contingent upon approval, such as creating an account.
  • Set up the entire account holder relationship upon disbursement, including account and savings, in addition to initiating the loan and performing funding transactions.

Dynamic data

  • Guide users through the application process with dynamically rendered data collection and messages, and even allow applicants to return to view the real-time status of requests associated with their new accounts.
  • Support interdepartmental cooperation by ensuring loan and account requests go to a relevant staff member and automatically email referrals to other departments.
  • Automatically generate documents right from the Account Origination module, triggered as data is entered into the system.
  • Include workflow steps that present data entry screens designed to include your desired fields.
  • Create admin-defined data collection views with dynamically rendered panels, screens and messages.

Powerful rules that evaluate, notify and update

  • Easily create and maintain unlimited rules. Give business users control over the information displayed to general users, including both credit and debit information, with rule-driven messaging.
  • Execute business rules to maintain processes, validate data, add stipulations, present cross-sell opportunities, and more.
  • Push fulfillment activities to third-party systems such as CRM with the application programming interface (API).
  • Enhance messaging to contain both loan and account information, and even customize by channel.

Integration and expandability

  • Capitalize on standard integrations with industry-leading third-parties, as well as an extensible architecture using the open API.
  • Automatically execute identity verification and OFAC when needed, saving valuable resources and ensuring data integrity for loan and account information.
  • Style and configure online and mobile applications quickly and easily with the fully integrated virtual capture functionality. No development required!

Robust cross-sell capabilities 

  • Increase volume and wallet share while strengthening account holder relationships by increasing awareness about additional products and services.
  • Present relevant transaction and account holder-specific additional products and services through the cross-sell engine.
  • Cater to individual account holders and their specific needs by engaging the cross-sell platform to deliver relevant offers, avoiding impersonal blanket offers.
  • Create and present cross-sell scripts within the system to provide a consistent message across channels and products and improve sales revenue.

Cutting-edge communications

  • Securely email documents to applicants via an encrypted transmission and receive back digitally certified documents using authentication that verifies the identity of the applicants with knowledge-based questions.
  • Provide applicants with anytime, anywhere signature capabilities capturing the signature and securely embedding it into the document.
  • Eliminate confusion and guide applicants through the data and document collection process step-by-step.
  • Automatically generate email notifications to alert employees of new assignments or exceeded processing time thresholds on applications.

Connectors

Connector

Description 

Type

 

Resources

 

ApplicationXtender

MetaSource – This connector allows documents attached to a loan application to be archived and stored with ApplicationXtender. 

Document Management 

 

Credit Reporting 

Luxor Technologies, Inc. – This connector retrieves and stores credit report information from Experian, Equifax and/or TransUnion through a third-party credit reporting service.

Credit Reporting

 

CUDL 

CUDL – This connector allows dealer applications submitted through Credit Union Direct Lending (CUDL) to be seamlessly transmitted to/from the system for evaluation.

Indirect Lending 

 

CUNA Mutual Calculator 

CUNA Mutual Group – This connector makes it easy to quote and cross-sell GAP and MRC using CUNA Mutual Group’s Internet Web Calculator (IWC). 

Insurance 

 

DocuSign 

DocuSign – This connector makes electronic signature easier with direct integration to the platform. 

Document Management 

Datasheet 

Equifax

Luxor Technologies, Inc. – This connector retrieves and stores credit report information from Equifax. 

Credit Reporting 

 

Experian 

Luxor Technologies, Inc. – This connector retrieves and stores credit report information from Experian. 

Credit Reporting

 

Experian Application Export 

Experian – This connector provides a tool to generate an export for use with Performance Insight and Risk Based Pricing services provided by Experian. Experian takes and analyzes applications and performance data from the system, and provides feedback to the financial institution, which enables the financial institution to better understand its decision models. 

Data Extracts 

 

Experian Precise ID

Experian – This connector provides the ability to interface with Experian’s Precise ID and Knowledge IQ products for identity checks and fraud verification based on pre-defined business logic. 

Fraud Detection 

 

FIS ChexSystems 

FIS – This connector provides resources to verify applicants through the use of the ID Verification (IDV) and ID Authentication (IDA) products. Additionally, a QualiFile product is available which provides customer scoring and risk segmentation during the account origination process. 

Fraud Detection 

 

IDology

IDology - This connector uses ExpectID technology to create a more satisfying account or loan origination experience by allowing applicants to capture data directly from their driver’s license or other personal identification instead of having to type it in. This secure and convenient process not only saves time but also reduces the chance that an application is abandoned.

Fraud Detection 

Datasheet

IMM 

IMM – This connector offers users improved productivity by automating the processes between the host system and document storage, as well as providing ancillary products for e-signatures, secure email and fax delivery and storage, and integration into archive systems. 

Document Management 

 

IMM eSign Remote

IMM eSign Remote – This connector makes electronic signature easier with direct integration to the system through IMM eSign. 

Document Management 

Datasheet 

LSI 

Lending Solutions Inc – This connector allows applications submitted through Lending Solutions to be transmitted via a secure channel to the system for evaluation. 

Indirect Lending 

 

NADA 

NADA – This connector allows users to input vehicle specifications and receive book value information in real-time. 

Auto Book Value 

 

OFAC 

Luxor Technologies, Inc. – This connector provides integration with OFAC Scope scanning products from Luxor Technologies, Inc. With this tool, financial institutions can ensure their account holders are free of fraudulent links to illegal activities tracked by the US and international governments. 

Fraud Detection 

 

SWBC ECM 

SWBC – This connector provides direct integration to SWBC’s Electronic Cash Management Tool (ECM) for highly secure and efficient electronic ACH and Credit Card transactions within the system. 

Payment Processing 

 

Systemware 

Systemware – This connector provides institutions with the ability to electronically archive loan documents into an intuitive folder structure. 

Document Management 

 

TransUnion 

Luxor Technologies, Inc. – This connector retrieves and stores credit report information from TransUnion. 

Credit Reporting 

 

Vantiv

Vantiv – This connector enables institutions to receive additional credit card account information directly through the system. 

Third-Party Credit Cards 

 

Interfaces

The Account Origination module currently interfaces to the companies listed below. In addition, Temenos can work with other companies upon request. Please contact us for additional information.

 

Corelation

Fiserv

Jack Henry

Finastra

  • KeyStone
  • Datasafe
  • DNA
  • Spectrum
  • XP2 
  • Symitar Epysis
  • UltraData 

Infographic

Click below to see the behind the scenes process of how this solution automatically originates a new account in less than five mintues! Our system does all the work - all you have to do is welcome them to the family.

 

Infographic