Features
WAY4 Consumer Loans allows you to create your own loan products through flexible pricing and accounting rules and to control credit and fraud risks. Today more than 90 banks, payment service providers, telcos and governmental agencies in 20 countries have selected WAY4 solutions. All of them manage their unique product portfolios tailored to their business needs.
Revolving, instalment and fixed loans
Open-end and closed-end loans
Loan accounts and card-based loans
Combined and user-defined loan products
Retail, cash/banking loans
Automated rule-based loans
Channel-originated loans
Co-financed loans by merchants and third parties
Loan lifecycle management
Loan conversion/restructuring
Multiple interest and fee schemes
Multiple interest algorithms
Front-loaded interests and fees
Dynamic interests and fees
Tiered interests and fees
Stepped interests
Declining interests
Multi-component interests and fees
Multiple/structured fees
Event-based fees
Taxes
Automatic penalties
Multiple discounts/promotions
Discounts and rebates on interests and fees
Sponsorship by third parties
Interest-free periods, fee-free periods
Integrated loyalty engine
Analytical and GL accounts
Below the line accounting
Unlimited number of accounts for each loan
Flexible rules of provisioning
Online/offline integration with the core banking system
Flexible billing schemes
Based on transaction date
Linked to a card account’s billing
Others
Flexible interest billing
At the end of cycle
At each payment
Separated for each plan
Separated depending on delinquency
Various billing methods
Central payment
Per-loan billing
Combined
Multiple billing options
X days, X months
Xth day of the week, Xth day of the month, etc.
Flexible billing date setup
Flexible repayments rules
Various grace period options
Payment amount tolerance
Loan origination through self-service channels
Loan origination at branches and retailers
Flexible loan origination workflow
Support of express loans
Client notification upon credit approval
Online interfacing with external systems
Focused marketing campaigns
Personal client offers and instant enrolment
Credit limit activation for pre-scored clients
Multiple channel reporting and payments
Branch
ATM, Kiosk
Web, Mobile
Call centre, IVR
SOA channel integration
Detailed statements
Loan repayments by cash, transfer, standing order, direct debit, etc.
Notifications/alerting and information inquiries
Pre-scoring, individual scoring for each loan
Integration with scoring systems, credit bureaus
Multi-level credit risk control, hierarchical limits
Online fraud monitoring
Client notifications
Black listing
Integrated consumer debt collections
Loan accounts and card-based loans
Intelligent loan management
Multi-level product pricing
Comprehensive accounting
Flexible billing rules
Smart sales engine
Multi-channel servicing
Total risk control
