Process Orchestrator

Origination Solution and Digital Lending with CRIF Foundation Framework

CRIF Foundation Framework is a flexible, agile and innovative suite of business process management (BPM) tools. It is successfully used in credit origination processes, engagement, orchestration of connectors, case management, remote appraisal for real estate and more.

CRIF Foundation Framework automates the end-to-end process, from data capture to approval and booking, orchestrating manual activities with workflow and document management, connecting participants and integrating all systems involved to meet an organisation’s credit processing needs either with a pre-defined or custom-tailored solution.

CRIF Foundation Framework tracks each step of the process, including status and who-did-what-when, providing complete control and maximum straight-through processing. It can support any geography, channel, credit products, market segments and any lending instrument, across the entire enterprise.

Productivity and best practices are embedded within the process composition technology which makes the framework very open and ready for API and Open Banking support.

CRIF Foundation Framework includes many opportunities to enhance the business process for enterprise level organizations.

KEY VALUES

Control

Online tracking, traceability and integrated measurement of business processes against KPI and SLA objectives. Fulfil internal policies and comply with international and local regulations.

Multi-country

Native tools to support multi-culture and multilingual solutions.

One installation to serve many countries.

Modular

Using modern technologies and based on microservices that guarantee modularity and scalability.

Decouple business process management from decision management.

Connector framework

Data integration using REST and SOAP web service technologies. Native integration with StrategyOne directly into the workflow.

Access to a wide set of ready-to-use connectors with data sources such as Credit Bureau and Business Information.

Map data using graphical tools without coding or the need of technical skills.

Digital platform

Utilise an innovative mechanism for the management of customers’ direct channels.

Benefit from a customer experience which minimises rework with seamless navigation between the different channels.

Access to CRIF professionals

Support through consulting, setup, training, customisation and on-going maintenance.

Enables the adoption of ready-to-use solutions such as CRIF Loan Origination Solution (LOS).

• Intuitive low-code visual designer to author and test the business process

• Web Portal: web portal provides a dynamic case management tool for end-users such as branch operators, credit analysts and back-office staff. It enables them to carry out their processing tasks efficiently and effectively using worklist and electronic document management. Supervisors and managers also use features to monitor and improve the operational performance and to modify the worklists

• Business Administration Console The CRIF Foundation Framework Business Administration Console (BAC) provide a web-based interface for administrative tasks in the solution such as User management, profiles and roles, Organisational structure and diagnostic tools and many other configuration functionalities.

• Natively Omnichannel CRIF Foundation Framework includes Omnichannel REST APIs allowing the interaction between CRIF Solutions with existing online digital channels used by the organisation. This interaction enables communication directly between end-users and subscribed global services.

Examples of how omnichannel APIs are used within the CRIF Foundation Framework include:

• Providing responsive front-end applications for internal users and external customers via the embedded omnichannel integration
• Enabling business-to-business (B2B) integration and cooperation for brokers, business partners and social networks. The CRIF Solution is integrated into all the client’s applications, including direct channels
• Providing a standardised approach for the integration between all channels via its own web interface or with existing graphical interfaces included in the solution. These features are not channel-dependent and can be customised based on requirements of each client
• Providing a common integration interface enabling a cross-channel process orchestration

Embedded omnichannel forms

CRIF Foundation Framework can create web components that can be used both within the process or embedded into an external application. This feature increases the reusability of the implemented code and reduces the time-to-market for access to other digital channels.

• Audit Trails keeps a constant detailed record of activities carried out throughout the CRIF Foundation Framework. The organization can define the business data that is kept in the records and administrators can interrogate the logs on demand to extract data or produce formatted audit reports.

Comprehensive auditing is essential for compliance and regulatory requirements

• Integration capabilities

CRIF Foundation Framework Designer includes functionality for creating business level integrations using industry standard protocols and web services:

• SOAP web services
• REST API or RESTful web services

These functions allow the business user to connect the CRIF Foundation Framework to external services, define the parameters, select the methods to be executed and specify the data mapping without having to utilise IT resources.

StrategyOne native integration

The CRIF Foundation Framework includes native Integration with StrategyOne and provisions for the decoupling of decision processes from business processes.

Modifications to existing decision processes does not require the deployment of a new version and so can be made without any need for IT resources and with no impact on business continuity. This includes configuration and data mapping updates. Multiple tools are available for testing before the process is deployed into a production environment. This native integration greatly reduces the development and deployment timescales and improves business continuity.

• Connector Catalog An extensive library of connectors
• Almost 60 connectors currently implemented worldwide and constantly expanding
• Covering internal and external data sources including in areas such as:
  • Credit bureau
  • Business information
  • Anti-fraud
  • Real estate
  • Application processing
  • Integration with other CRIF services

The list of connectors is in continuous evolution with constant development driven by business need. New connectors can be developed in as little as three or four weeks, depending on the complexity of the requirement.

CRIF Foundation Framework includes different modules to automates the end-to-end origination process, from data capture to approval and booking, by orchestrating manual activities with workflow and document management, connecting participants and integrating all involved systems. This enables an organization to meet its credit process needs with either a pre-defined or a bespoke solution.

Origination modules tracks each step of the process providing complete governance, control and maximum straight-through processing. It provides full support for all geographic locations, channels, credit products, market segments and lending instruments across the entire enterprise.

Additionally, productivity, best practices and reusability are facilitated by the embedded ‘brick-based’ process composition technology. The Origination Modules is an open framework with full support for API integration and the Open Banking initiative.

The CRIF Loan Origination Solution process is inspired by the CRIF best practices manual which rationalizes the complexity of a credit process into a reduced set of macro-phases, each including modular and extendable functionalities such as the Customer View: