Name: VeriLoan
Author: VeriPark

Help Desk

Web and Video Conferencing

Customer Support

Feature Management

Functional Testing

Mind Mapping

Development

Business Intelligence (BI)

Calibration Management

Collaboration

Dropshipping

Enterprise Search

Integrated Workplace Management (IWMS)

Intellectual Property (IP) Management

Enterprise

Accounting

Payment Gateway

Finance and Accounting

Applicant Tracking

Corporate Learning Management

Course Authoring

Employee Performance Management

HR Management

On-Demand Payment

Payroll

Resume Parsing

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

eLearning Content

Human Resources

3D Printers

3D Printing

Business Process Automation

Cloud Storage

Configuration Management

DevSecOps

Disk Cloning

Fraud Detection

IT Professional Services

Integration Platform as a Service (iPaaS)

Interoperability

Metadata Management

Network Access Control (NAC)

Network Performance Monitoring

Remote Monitoring and Management

SaaS Backup

Scale-Out Storage

Server Virtualization

Static Application Security Testing (SAST)

Storage Area Network

Test Management

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Content Management

Ecommerce Personalization

Email Marketing

Event Management

Marketing Attribution

Marketing Automation

Search Marketing Intelligence

Social Media Advertising

Social Media Management

Survey & Forms Building

Web Analytics

Marketing

Project Management

Transcription

Professional Services

Customer Relationship Management (CRM)

Sales

Secure Service Edge (SSE)

Security

Car Rental

Construction Accounting

Direct Secure Messaging

Home Health Care

Hospital Management

Medical Office EMR & EHR

Population Health Management

Veterinary

Vertical-Specific

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VeriLoan, developed by VeriPark, is a loan origination, servicing, and collection solution designed for financial institutions of all sizes. This software is suitable for retail, corporate/SME, private banking, wealth management, and insurance industries. According to the vendor, VeriLoan offers a range of features that aim to streamline loan processes, enhance customer acquisition, and improve efficiency in loan servicing and collections.

## Key Features

**Rule Engine**: VeriLoan includes a rule engine that allows financial institutions to configure the retail loan origination process according to their specific requirements.

**Eligibility Calculator**: VeriLoan provides a built-in eligibility calculator that enables institutions to check customer eligibility and reduce the risk of offering loans to ineligible applicants.

**Application Scoring**: VeriLoan offers an application scoring feature that aims to enhance consistency in the loan evaluation process and assist institutions in making accurate customer acquisition decisions.

**KYC and AML Checks**: VeriLoan facilitates compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations by performing thorough checks to prevent fraudulent activities.

**Document Management**: VeriLoan provides a centralized repository for storing, accessing, and managing loan documents, aiming to enhance efficiency and reduce the risk of document loss.

**Process Flow**: VeriLoan automates loan processes with standardized process flows, mandatory fields, and efficient task management, aiming to ensure consistency and streamline the loan origination process.

**Swift Process**: VeriLoan aims to orchestrate the end-to-end loan origination process with speed and accuracy, minimizing manual errors and reducing processing time.

**Audit Trail**: VeriLoan maintains a comprehensive audit trail that records the entire history of a loan process, aiming to preserve data integrity and enable institutions to track and verify each step.

**Loan Inquiries**: VeriLoan provides easy access to customer loan details, repayment schedules, and loan documents, aiming to facilitate efficient management and response to customer inquiries.

**Collection Management**: VeriLoan offers modern and digitized collection processes, aiming to reduce collection costs and improve efficiency, enabling institutions to handle loan restructuring, early repayment, and other customer requests with flexibility.

Basic

VeriLoan

Loan Origination

VeriPark

The software allows lenders to manage the loan origination process, including application intake, underwriting, and approval.

Credit Scoring and Risk Assessment

This feature enables lenders to assess the creditworthiness of borrowers and the risk associated with different loan products.

Automated Underwriting

Refers to the use of algorithms to assist or replace human agents in the underwriting of loans.

Loan Workflow

Tools used by loan origination and servicing and servicing agents to streamline their workflows.

Loan Document Management

This feature allows users to store, manage, and track all loan-related documents, ensuring compliance and efficient processing.

Loan Workflow Automation

This feature helps to automate various stages of the loan process, improving efficiency and reducing manual errors.

Loan Software Integrations

This feature allows lenders to access credit reports and scores from major credit bureaus, aiding in the credit assessment process, and integrate with CRM tools and third-party databases to manage borrower relationships.

Loan Reporting and Analytics

Allows users to generate various reports and analyze data related to loan origination and servicing, helping to make informed decisions.

Financial Reporting and Compliance

Financial statements and regulatory filings

Management Reporting

Tools facilitating creation of internal ad hoc or standard reports.

Excel-based Reporting

Ad hoc or formatted reports using MS Excel.

XBRL support for regulatory filing

Support for the XBRL standard reporting format for exchanging financial data.

Data Security

Tools and features that help keep data secure from unauthorized access or internal exposure.

At-Rest Data Encryption

Data at rest is encrypted, requiring decryption to read the underlying data.

In-Transit Data Encryption

Data is transmitted in an encrypted state, preventing interception of raw in-flight data.

In-Use Data Encryption

Data remains encrypted even when stored in non-persistent storage (RAM, CPU caches, and CPU registers). This prevents access to data through malware on an individual device.

Data Redaction

The product's capability to return redacted data in place of actual data when queried. For instance, a redacted query for the phone number 555-5555 could return ***-**55.

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Loan Origination Software

VeriLoan

Overview

What is VeriLoan?