octagon frontier lms 2014
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OCTAGON Automated Credit Application
and Account Management
Overview
FRONTIER & LOANS MANAGEMENT SYSTEM
Who is Octagon ?
Our Customers Profile
Cradle to Grave process
Key Statistics
Credit Strategy
Copyright © Octagon Business Solutions -2010
Who is Octagon?
Trading in credit vetting & loan management since 1998
Employs more than 15 people dedicated to our producs Systems and integration is deployed in Credit Bureaus,
Telkom, Major Retailers, Financial Institutions, Attorneys and Estate Agencies
Products for Credit Application Processing and Decisioning, Account Management & Collections. Clients are Retailers, Credit Providers, Microlenders, Attorneys and Estate Agencies.
“Octagon is a leading solutions provider for credit application processing & loan management in South
Africa.”
Copyright © Octagon Business Solutions -2010
Enterprise Product customers in the following industriesCustomer Profile
Personal loansJD GroupLendcorMaravediCrestBaberekiNorufin24 Fix( Solar )Direct AxisFirst Funding (Employer based)
RetailJD GroupTruworths LtdFull House RetailAstra FurnishersFoshiniRetail Credit Solutions (RCS)
Asset Based FinanceSASFIN BankNedbankABSA ATFAOT FinanceKago FinanceCape Finance
WesBank BotswanaWesBank NamibiaWesBank SwazilandWesBank Lesotho FNB Securitized
Thousands other customers using our desktop products.Copyright © Octagon Business Solutions -2010
Motor FinanceMmela car scheme Government
Interface to relevant external data sources through Dossier Dossier (Single Point Of Contact) Adding new sources continually to Dossier
DossierSingle Point Of Contact
FRONTIER
CommercialCredit Bureau
FRONTIERClient User
FRONTIERWEB User
VariousOthers
FRONTIERExternal data sources
FRONTIERClient User
eCommerceInterface
Fraud data
Deeds Office
ConsumerCredit Bureau
Copyright © Octagon Business Solutions -2010
Data InterfacesData Interfaces
ExternalServices
CustomerServices
Interfaces developed to relevant external data sources Interfaces developed to relevant internal systems Integration required for correct risk assessment Integration required for customer service
DossierSingle Point Of Contact
FRONTIER
External data
FRONTIERClient User
FRONTIERWEB User
FRONTIERSYSTEM INTEGRATION
FRONTIERClient User
eCommerceInterface
Loan Management
System
CRMCustomerSystem
OtherSystems
Copyright © Octagon Business Solutions -2010
LMS SYSTEMACCOUNT MANAGEMENT & MONITORING
Credit Application
Authorization
ApplicationCapture Quotation
Account Creation
Approval Disbursement
Application/Account Life CycleCradle to Grave
Contract Generation
Credit Vetting
Min PolicyRules
AffordabilityCheckFraud Check
CreditBureauEnquiry
Copyright © Octagon Business Solutions -2010
Application/Account Life CycleCradle to Grave
LMS Account ManagementLoan management system modulesPayment Plan Options• Fixed/Linked• Staggered• Residuals• Re-advances• Finance extras• VAT/No VAT
Capital Transactions
• New Deals• Book Val Reductions• Re-advance capital• Settlements• Re-schedules
Finance Charge Transactions
• Earnings• Settlement Rebates• Penalty Interests• Re-schedule• Fin Charges
Debtor Transactions
• New Deals• Receipts/Reversals• Deposits• Settlements• Journals• Re-schedules• Escalations
Collections
Auto Que’ing& Diary
General Ledger Interface
FullJournal
Summary &Audit Trail
GL PostingFile
Letters & Legal Tagging
Copyright © Octagon Business Solutions -2010
Credit Strategies With regard to the key statistics these are available
through reports in Frontier and the LMS. It must be noted that a credit strategy determines the performance of the book. A good strategy will strive to advance the most credit while reducing the odds for bad debt. This is achieved by utilising the following tools: Strict Minimum Policy Rules Profiled Decision Trees Researched Scorecards Odds-based Joint Odds matrices
Copyright © Octagon Business Solutions -2010
Copyright © Octagon Business Solutions -2010
Authorised data reseller for the Credit Bureaus +-2000 companies use our various software products Dossier Gateway switches +-24 million transactions per
annum Processes value +- R250 million per month Automatic approvals within maximum of 30 seconds Consistently applies business & credit strategy
uniformly Full MIS reporting and Performance statistics.
Why use Octagon for your Credit Decisioning & Loan management
Loans Management & Collections System A full range of standard reports covering:-
• General Ledger with full audit trail and balancing• Arrears & Statistics• Letters & Statements
General Ledger Interface · Full journal Created for each transaction· G/L Codes are user defined· Full G/L Summaries and audit trails· G/L posting files for Accounting Packages
Customer Collections· Automated collections queues pre-legal & legal· Automated administration queues· System allocation of collectors to queues· Diary follow‑up sub‑system & Memo pad per agreement· Legal tagging, Deal Tagging· Letter generation
Provisions and Bad Debts• Suspend earnings & Suspend arrear interest• Provisions, Write-off transactions• Bad Debts Transactions
Copyright © Octagon Business Solutions -2010
Copyright © Octagon Business Solutions -2010
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