Third Pillar System’s Modular Architecture
Right-size your systems to your business needs by using Third Pillar's modular architecture to implement chosen functionality driven by your business needs. "Modules" - core pieces of functionality - can be deployed as needed, independently or together with other modules.
Library of Modules
Quoting Module
The LoanPath Quoting Module provides instantaneous web-based quotes based on user defined business rules and tax requirements. The Quoting Module supports a variety of financial products and can be used both externally with sales people, dealers and vendors or internally - a significant competitive advantage.
External Users and Dealer Sites
Dealers can enter the small amount of data required for the quote calculation, calculate the quote, and quickly see pricing results along with quote proposals to share with the end customer. Quotes can be versioned and re-run until the dealer calculates the correct price points real-time to close the transaction with the end customer.
Dealers can thus easily engage customers in looking at various quote scenarios, changing parameters and saving various versions of a quote, while maintaining the finance company's required yield. The flexibility in the quote module helps the dealer better meet the end customer's needs and thus improves win rates.
Internal Users and Leasing Company Staff
Internal users may be given access to more complex quoting capabilities, allowing these users to override certain values or rules, while maintaining those factors necessary for compliance. Complex calculations that may have previously required multiple steps to calculate subsidies, commissions, customer and leasing company interest rates all performed with a single click and viewed in the output document or report.
Quoting Module features include:
- Ability to ‘Solve For’ values of the user’s choice:
- External users typically solve for rentals
- Internal users solve for features include residual value, equipment cost, subsidy amount, and many others.
- Input of fees such as document fees, insurance fees, maintenance fees, and many others.
- Input of dealer and vendor subsidies, commissions many others.
- Generation of regular, irregular and seasonal payment schedules.
- Set up of dynamic residual bands associated to asset types and asset add-ons.
- Display of dynamic input screens based on selected finance products (operating lease, finance lease, loans and others).
- Set default value based on user preferences and vendor set up including default equipment types added to quote.
- Output of customized customer, dealer and internal user reports.
- Creation of custom quote letter with full payment and amortization schedule.
- Full taxed-based pricing (certain countries only).
Dealer and vendor partners can also be given the capability to search for quotes and applications and to become part of the origination and application documentation process.
Application Module
In commercial lending, an application can be created for each product line, business unit or geography. In a leasing transaction, once a customer accepts a quote, it can be moved to application status while saving all the entered quote data. The Third Pillar Application module allows an internal user to enter and maintain the remaining data required for the application.
Credit data and documents are then collected electronically with LoanPath's document management and workflow capabilities to satisfy the credit organization's standards.
Applications that do not require quotation can be started via an electronic connection to a CRM system, electronically by a customer or Relationship Manager, or via faxed document.
Application Module features include the ability to:
- Add customer and related party data for multiple parties.
- Interface with back office systems for customer and exposure data.
- Upload documents into the document management system.
- Track multiple versions of uploaded documents.
- Generate documents that include data from the quote and application.
- Fax in a physical document into the document management system, including a signed document.
- Require a document at different statuses in the process.
- Require fields at different statuses in the process.
The Application Module's dynamic input screens allow you to configure the application process according to your business needs. The Application Module will advance the application through the defined workflow process automatically as data and documentation requirements are met.
Manual Approval
The LoanPath Manual Approval Module supports the transaction approval process for medium and larger ticket transactions. This process can involve multiple parties, checklists, and rules-based controls that require extensive analysis of documentation as well as packages movement from office to office. LoanPath's approvals module enforces best practices in underwriting using our rules engine and workflows to enforce an enterprise credit strategy.
With the Manual Approval module, rules can be set up to trigger workflows based on any data point including:
- transaction size
- transaction type
- geographic region
- collateral type
- origination point, person, or program
In the LoanPath Approval Module, the approval of the credit, pricing or document package can all be handled and logged, with different workflows set up for each.
Manual Approval Module features include:
- Serial, parallel or daisy chain approvals
- Any aspect of the transaction can have different approval requirements
- Approvals actions automatically trigger the next event in the workflow
- Optional emails generated for events in the workflow
- Complete audit trail all events
Automated Approval
The LoanPath Automated Approval module handles the set up of credit scoring rules and approval decisions based on those scores.
The Third Pillar rules engine can calculate credit scores and automated decisions based on virtually any data point in the system, including 3rd party data.
Automated Approval Module features include:
- Full versioning of rules
- Rules rollback and forward capability
- Champion and challenger modeling
- Rule verification and checking
The LoanPath rules engine uses information from credit reports, application and quote data, and internal databases to generate a credit recommendation based on client specified credit and decisioning rules. Sophisticated rules can be modeled using simple drag and drop metaphors and full logging of rules is supported.
Booking
The LoanPath Booking module connects the LoanPath front office to the back office, enabling the generation and archiving of the loan or lease documents and data required prior to booking.
The booking module also provides for a system connection to a back office system for electronic booking of transactions and straight through processing.
Booking Module features include:
- 2 way interfaces to back office system (generally XML)
- Create Contracts
- Create Customers
- All required validations for data and documents required by the back off system
- Configuration module to maintain codes associated with the back office system
Document Generation
Ensuring that the correct terms, conditions and data are part of every client document is critical to efficiency and the elimination of costly rework. LoanPath's Document Generation module uses the data collected in the credit process to automatically populate document templates that can be published in editable (Word format) or .pdf format.
The Document Generation module provides complex logic based on the information in the deal and can insert appropriate company- or industry-specific clauses as needed. Document templates are easily changed using the Document Generation template creation functionality in an easy to use Microsoft Word®-based plug-in.
The MS Word and XML-based Documentation Generation Module supports a clause library offering alternate languages, and workflows for getting new clauses approved. LoanPath's contract module can handle the simplest standard forms to complex negotiated agreements.
Every clause within the library can be attached to a workflow, triggering a review or boarding into the portfolio monitoring or accounting system.
Document Generation Module features include:
- Multi-lingual capable (all languages supported by Microsoft Word)
- Conditional logic and clause support based on data elements
- Support for Microsoft Word formatting capabilities
- Centralized clause management and drag and drop document creation capability
- Publishing of draft templates to final document templates
- Documents can be emailed, faxed or published to the user for editing
- Multiple document generation requests can be requested and queued in a batch process
- Document Packages can be created and enforced to ensure completeness of communication.
Document Management
In a paper-based lending process, loan approval documents move from office to office for review. LoanPath's integrated Document Management capability supports indexed searching of documents as well as full access to documents associated with a customer or transaction based on role-based entitlements. This means that users can access any document in the system from anywhere, simplifying the sharing of information and speeding the credit decision.
Document Management Module features include:
- Full versioning of documents including the user that made the change
- Statuses for documents as part of a workflow process
- Full text search capability for .doc, .xls and .ppt files
- Fax-in capabilities for hard copy documents
- Scanner and Fax coversheet creation for the movement of physical documents to the electronic credit file for the transaction
Event Tracking
After a middle-market or large ticket transaction is booked, much of the work to manage the deal remains to be done. Third Pillar's Event Tracking module can enable the creation of tracking events to ensure the appropriate steps are taken at the right time through the use of workflow driven notifications and event statuses.
When a deal is created, a user can set financial covenants to be tracked, as well as data required from the borrower such as financial statements and insurance. Event monitoring responsibility can be assigned, as well as reminders that can go to internal staff or directly to the end customers. The integrated LoanPath rules engine can be used to ensure certain events are always tracked based on deal criteria.
Event Tracking Module features include:
- Set up for start and end dates for event with dates for reminder and escalation intervals
- Customizable email and notification text
- Event list with statuses and event search functionality
- Open notifications with the ability to change statuses based on event completion
Procurement
Complex credit processes require the support of external vendors like property and equipment appraisers. Obtaining third party information is often on the critical path in a credit transaction, and it often requires the time and attention of the professional staff, detracting from an underwriter's true job of analyzing credit.
LoanPath's Procurement Module gives underwriters a central portal where they can order any report necessary, including automated reports such as:
- Dun & Bradstreet Business Information Reports
- Experian
- Transunion
- Equifax
Procurement Module features include:
- Appraiser bid and award functionality available from one screen
- Distributed roles-based entitlements allow vendors to manage the functionality that they are entitled to
- Rules set up to notify when reports have been uploaded by vendors
- Automatic measurement of appraisal on-time and price performance
Vendor
The LoanPath Vendor module enables 3rd party vendor partners to configure LoanPath "look and feel" and features based on their preferences or partner agreements.
Vendor Customization features include:
- Custom URL set by the vendor
- Branded web sites with logo, welcome and news text set up by the vendor
- Default or pre-set values on Quote
- Fees
- Costs
- Finance Products
- Equipment Types
- Subsidies
- Etc
- Parts of application
- Vendor branded generated documents
- Vendor Self service (Application Status, Search, Updates)
LoanPath Pricing Engine
Installed at over 25 of the world leading institutions, including several US top ten banks, LoanPath's pricing engine allows for modeling everything from complex single investor leveraged leases to Japanese quasi-leases using an unusual half-year depreciation convention.
LoanPath's pricing engine is exposed as a web service allowing any application to leverage sophisticated pricing models, offering more than 50 out of the box reports. The LoanPath pricing engine is accessed via Web Services to provide the quotation in our Quotation module.
Usage Based (2007 release)
Lease pricing and billing are increasingly being driven by usage parameters, particularly in the Office Equipment and Health Care market segments. Third Pillar's Usage Based Module provides the capability to set up and manage a usage based lease contract so that end customer needs are met and the expenses incurred on a contract are accurately tracked through the life of the lease.
Event Tracking Module features include:
- Set up of usage events for any type of equipment
- Supports multiple events or consolidated metering
- Variable pricing based on set up of meter driven tiers
- Entry of meter information with validations for all required data for the specific meter read
- Transfer of the usage information into the back office application
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Modules
Each performs a key function in the leasing and lending lifecycle and are integrated in a Services Oriented Architecture within the LoanPath platform.
Modules may be delivered in phases or all at once, depending on timing and functional requirements.
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