Cross-Sell Products

The Cross-sell feature is designed to generate additional Sales and Market Shares by presenting the user with multiple products to sell to their applicants at the time of the sale. Cross-sell product types include:

Non-Loan Offers - Opportunities to offer products such as GAP, Mechanical Breakdown Protection and Deposit Accounts.
New Loan Offers - Opportunities to increase the original loan request or offer a separate loan product (such as a credit card) in conjunction with the new loan.
Replacement Loan Offers - Opportunities to replace an existing obligation to a third party with a more beneficial product offering from the financial institution.
Consolidation Loan Offers - Opportunities to replace multiple existing obligations to third parties with a single more beneficial product offering from the financial institution.

The Lifecycle Management Suite's Loan Origination module automatically creates a new loan application (child application) for New Loan, Replacement Loan and Consolidation Loan product offers when the applicants' response is "Yes" or "Yes-Referred."

The new Cross-sell application is created at one of the following stages:

When the parent application is saved, if New Loan, Replacement or Consolidated opportunities were accepted.

When the parent application is disbursed.

The stage where cross-sells are created is determined by updating the Step to create new loan from cross-sell Solution Parameter, which is set on the Approved tab on the Solution.Origination page.

The child applications created by cross-sells must be decisioned and disbursed. The decisioning of these application can be automated. To automate the decisioning of child applications, update the Automatically decision cross-sell application at creation Solution Parameter, which is set on the Approved tab on the Solution.Origination page. If the parameter is set to Yes, the child applications are automatically approved. If the parameter is set to No, users must manually decision each child application.

The system-defined event pair, Process Cross-sells on Approval, prevents cross-sells from generating on child applications. If a custom event pair was created to generate cross-sell opportunities, it is recommended that the StopCrossSellAction rule is assigned to prevent cross-sells from generating on child applications.

Defining Cross-Sell Products

To define the new loan and non-loan products to be offered as cross-sells, navigate to System Management > Origination > Cross-sell Products. This page enables institutions to create new and maintain existing loan and non-loan cross-sell products.

New Loan Cross-sell Products are related to specific loan products configured in the Lifecycle Management Suite's loan origination module, which allows for these products to be priced and decisioned when processing applications. Only Loan Cross-sells for which the applicants are auto-approved are presented on the application.
Non-Loan Cross-sell Products are not related to a specific loan product configured in the Lifecycle Management Suite's loan origination module. Some examples include GAP, MBD and Debit Cards.

For information on defining Replacement Loan Cross-sells, please see the Replacement Loan Cross-sells topic.

Cross-sell Attributes

Cross-sell attributes are defined within the Cross-Sell Product window.

Cross-sells consist of the following attributes:

General
Sales Script
Disclosure

General

General attributes consist of the following fields:

Field

Description

General

Name

Enter the name of the cross-sell opportunity.

Description

Enter the description that provides product details which are only visible in the Cross-sell Products administrator page.

Active

Select the check box to enable the product to be offered as a cross-sell.

Military APR

Select the check box to identify that the non-loan cross-sell product is to be included in the Military APR (MAPR) calculation for a close-ended loan.

This checkbox is only enabled when the Cross-sell Type is set to Non-Loan.

For more information on MAPR calculations including non-loan cross-sells, please see the Save and Calculate section of the Loan Terms topic in the User Guide.

Properties

Cross-sell Type

Use the drop-down list to select whether the cross-sell is a loan or non-loan product.

Product: Sub-Product

Use the drop-down list to select the sub-product that corresponds with the cross-sell product. This determines which pricing and decision models to use for the Cross-sell Product.

This field is only active for loan cross-sells.

Term

Enter the default term for the cross-sell product.

This field is only active for loan cross-sells.

Payment Frequency

Enter the default payment frequency for the cross-sell product.

This field is only active for loan cross-sells.

Amount

Enter the amount of the non-loan cross-sell product.

This field is only active for loan and non-loan cross-sells.

Email Address

Enter an address to send a notification. The notification is sent if the status is set to "Referred" on an application.

Sales Script

A financial institution may want to pitch a cross-sell product differently than a parent loan. The Sales Script tab configures the Sale Script to be displayed to a user on the Cross-sell screen. This tab provides the basic formatting options such as:

Font choices (e.g. Arial, Calibri, Tahoma, Times Roman)
Font options (e.g. bold, italic)
Font sizes
Font color
Text alignment
Bullets and Numbering
Hyperlink

Disclosure

The Disclosure tab is disabled for loan cross-sell products.

The Disclosure tab allows institutions to define a disclosure statement for each non-loan product.

This tab contains:

A check box that, when selected, makes the disclosure a requirement in order to accept a cross-sell.
A freeform text box that allows institutions to author a rich text disclosure statement.

The disclosures of loan cross-sell products are defined on the Disclosure tab within Loan Application Types.

Creating a Cross-sell

To create a cross-sell product, click on the Cross-sell Products page.

The New Cross-sell Product window appears. Navigate through the General, Sales Script and Disclosure tabs to update attributes.
When finished entering all attributes, click to save the cross-sell and return to the Cross-sell Products page. The new cross-sell is added to the Cross-sells grid.

Cross-sell Product Rules

Within Rules Management, system administrators can author Cross-sell Product rules to automatically execute when the Cross-sell screen is loaded in the application workspace. Upon execution, these rules evaluate the application data to determine which Cross-sell Products should be offered to the applicant(s).

To author a Cross-sell Product rule, navigate to System Management > Origination > Rules Management and select the Cross-sell Products category.

For more information on authoring business rules, please see the Rules Management topic within this guide.

After a Cross-sell Product rule is authored and the rule application is saved, the rule is available to be assigned to a sub-product within the Cross-sell Products tab in Loan Application Types. This configuration enables institutions to generate specific cross-sells for sub-products, if the conditions identified in the assigned rule(s) are met.

For more information on the Cross-sell Products tab, please see the Loan Application Types topic within this guide.

If rule conditions are met, opportunities are presented in the Cross-Sells screen.

For more information on the Cross-sells screen, please see the Cross-Sells topic in the End-User Guide.

In addition to the Cross-sells screen, a Cross-sell panel is available to provide users with the ability to offer existing cross-sell opportunities and generate new non-loan cross-sells. For details about the Cross-sell panel, please see the Underwriting Review topic of the Lifecycle Management Suite User Guide.