Funding Application

The Funding Application screen is the primary workspace for reviewing and evaluating an individual funding application. It consolidates applicant information, asset details, business rules, finance structure, supporting documents, third-party responses, and AI-powered insights into a single view, enabling funding analysts to validate funding requirements and make informed funding decisions.

The following information is displayed in the upper section of the screen:

• Application ID is displayed in the top-right corner for uniquely identifying the funding application.

• Introducer and Source are displayed in the upper section to identify the origin of the application.

• The upper-right corner also provides quick access to:

  • Get Next to open the next funding application in the queue.
  • Add Decision to record or modify the funding decision.

Sections on Window

Applicant Details

The Applicant Details section displays information about the applicant required for funding assessment. The information presented varies based on the customer type, such as an individual, corporate, or other supported applicant categories, and may include personal, business, identification, contact, employment, or financial details relevant to the selected applicant.

Asset Details

The Asset Details section displays information about the asset being funded, including VIN/Serial Number, make, model, year, trim type, condition, and total cost.

Business Rules

The Business Rules section displays all business rules applicable to the current application. Users can review triggered rules and, where permitted, waive individual rules before finalizing the funding application.

Documents

The Documents section allows users to upload, review, and manage documents associated with the funding application.

The following document filters are available:

• Category – Select All, Credit and Loan, Credit Documents, or Funding Documents.
• Type – Select Active or Pending documents.

Click Upload Document to add supporting documents to the application.

Users can also generate contract documents by clicking Generate Contract Documents.

The Generate Documents window contains the following tabs.

Documents

Displays all mandatory and optional documents along with their current status. Users can also specify whether a signature is required for each document.

Add Signatories

Allows users to add signatories for the generated documents. Users can configure electronic signatures and specify whether each signatory is mandatory.

Finance Structure

The Finance Structure section enables users to view the financial structure of the application by clicking Add/Modify.

Financial Configuration

Configure the financial parameters for the application, including Program, Product Type, Calculation Method, and Finance Type.

Deal Structure

Displays and allows modification of the complete financing structure, including sale price, financed amount, repayment terms, interest information, balloon details, commission, dealer reserve, and dealer participation.

Rental Summary

Displays calculated rental information for both Auto and Balloon rentals.

Payments

Displays calculated payment information, including principal, term charges, taxes, services, receivables, and total payment amounts.

Rates

Displays calculated financial rates, including Gross Yield, Net Yield, APR, Flat Rate Commission Inclusive, and Flat Rate Commission Exclusive.

Sale Price

Displays the financial breakdown of the asset price, including trade-in values, rebates, tax information, down payments, and asset subtotal.

Tax

Displays applicable tax components, such as VAT, along with their configured treatment.

Fees

Displays all configured fees applicable to the finance structure.

Add-Ons

Displays all configured add-ons associated with the application.

Checklist

The Checklist section displays all funding validation items that must be completed before the application can proceed to funding.

Deficiencies

The Deficiencies section lists outstanding issues, missing information, or unmet requirements that must be resolved before funding can be completed.

Document Checklist

The Document Checklist section displays all required funding documents together with their completion status, helping users verify document compliance before funding.

Third Party Response

The Third Party Response section retrieves the latest responses from integrated third-party services. Click Get Response to obtain responses for:

• KYC Report
• Credit Response

Ask Check AI

The Ask Check AI section provides AI-powered insights and recommendations to assist during funding review and decision making. Users can communicate with Check AI using natural language to obtain analytical reports, recommendations, and financing insights.

SWOT Analysis

Generates a SWOT analysis highlighting the applicant’s strengths, weaknesses, opportunities, and threats.

Applicant Insights

Click Show Report to view a comprehensive applicant assessment, including financial profile, funding profile, employment outlook, fraud verification, lending suitability, recommendations, and final assessment.

Asset Insights

Provides an AI-generated analysis of the financed asset, including valuation, ownership costs, market trends, risk indicators, environmental metrics, and recommendations.

Credit Analysis Memo

Generates a comprehensive funding memorandum summarizing the applicant profile, financial capacity, collateral, market risks, approval conditions, recommendations, and supporting documentation.

Stipulations Suggestion

Provides AI-generated financial and non-financial stipulation recommendations. Users can create stipulations directly from the suggested recommendations where required.

Credit Analytics

Displays graphical analytics to assist in evaluating the overall credit profile.

Chat Box

The integrated chat interface enables users to communicate directly with Check AI. Conversation history is retained for future reference.

Add Sticky Notes

Use this section to record internal notes related to the application for future reference and collaboration.

Audit Trail

The Audit Trail is accessible from the right-hand side of the screen and displays a chronological history of activities performed on the funding application, including user actions, status changes, and timestamps.

Add Decision

The Add Decision window enables users to record or modify the funding decision. It contains two tabs.

Decision tab

Use the Decision tab to record stipulations and finalize the application decision.

Add Stipulations

Users can add financial or non-financial stipulations by selecting the appropriate stipulation type, choosing a configured stipulation, and entering comments if required.

Final Decision

Record or update the final funding decision by selecting the decision type, providing a decline reason when applicable, selecting the appropriate comment type, assigning a customer rating, and then saving or sending the decision.

Decision History tab

The Decision History tab displays a complete history of all decisions recorded for the application, allowing users to review previous decision outcomes, comments, and updates.