Infosys Common Loan Origination - iCLO
The Infosys Common Loan Origination (iCLO) solution is an automated and integrated common lending platform that supports loan origination across multiple lines of business.
| Challenge |
Solution |
Benefits |
| Lack of depth in product range |
Tailor solution to dynamic products |
Users can suggest multiple products to match the borrower's credit profile |
| Increased cost of loan origination and longer turnaround time |
Complete automation |
Reduced costs and turnaround time through automation |
| Higher number of fraud cases |
Fraud prevention mechanism |
Enables banks to identify fraudulent applications leading to reduced bad debts |
iCLO is a consolidated solution for loan origination across mortgages, auto loans and personal loans. It provides several options for calculating income/assets/liabilities. In addition, the solution supports various types of loans - retail, lease, balloon, refinance - and helps in process standardization, and effective pipeline management.
iCLO system is a highly scalable loan origination system that enhances the speed and accuracy of processing loan applications. It can be quickly and efficiently implemented on multiple browsers and operating systems.
iCLO conforms to regulatory requirements for Mortgage (RESPA, HMDA and TILA) and Auto (Usury). It helps you perform day-to-day functions efficiently while enforcing government regulatory policies and fulfilling disclosure requirements with dashboard reporting.