TAG LMS Introduction
The TAG Lease Management System (LMS) is developed specially to support the Lease application processing needs of banks and financial institutions. It employs workflow technology to control and monitor the various work steps in the Lease processing and uses digital imaging technology to reduce the delays and inefficiencies in handling paper documents.
TAG Lease Key Features
The most essential feature of TAG LMS is its Lease Application Processing Workflow. Each Lease application is monitored from the time it is entered into the system, and tracked through the various work steps of credit review and approval process. LMS allows these work steps to be performed in different locations while maintaining control of the flow and making sure no required steps are being missed.
Typical work steps in the application workflow Include:
- Application origination
- Duplication check and watch list check
- Application form printing
- Time deposit, Lease repayment history etc.
- Supporting document check
- External credit check, e.g. CIB
- Facility report / Approval form generation
- Application review
- Management approval
- Offer letter generation and printing
A financial institution can quickly define a new Lease product to create a competitive advantage without awaiting system change.
A new Lease type can be defined by specifying the following parameters:
- Lease Type Defaults & Constraints
- Lending Authority List
- Supporting Document Checklist
- Letter Templates
- Compliance Checklist
- Disbursement Checklist
TAG LMS, Letters and Forms Generation
Letters and forms are generated in TAG LMS automatically upon completion of certain task, e.g. Lease approved or rejected. TAG LMS will integrate application data with pre-defined letter templates to generate and print the letter without human intervention. Letter templates can be prepared and easily changed in common word processors.
Customer Application Status Enquiry
LMS provides sophisticated search criteria interface to allow users to make application enquiry. In application status enquiry, LMS can provide information on which work step where the application is pending at the moment, e.g. waiting for certain supporting document or waiting for Lease approval. This is particular useful for customer service representatives to handle enquiry from the customer. In addition, there is a work history associated with each application. It records down all the activities done on the application starting from when an application first enters the workflow till processing completes.
TAG LMS Reporting
There is a set of comprehensive reports provided with LMS. It includes MIS reports, lease progress reports, drawdown reports, workflow statistics reports etc. Reporting Key Features are as under:
- Output reports to screen, printers and MS Excel,
- Monthly, Quarterly & annual Lease reports as required by Regulatory/Monitoring Authorities
- Summary of Customer
- Customizable management reporting.
Some of the major reports generated by TAG LMS are as follows:
- NIL (Net Invest & Lease)
- AWE (Asset-wise Exposure)
- GWE (Group-wise Exposure)
- Income for broken period
- Capitalized under grace period
- Amortization Schedule
- Insurance against Lease