The 16 release not only brings enhanced configuration options, and a more productive and efficient user experience, but also the following new third party integrations:
Frost Financial Connector
The Frost Financial connector provides financial institutions with the ability to generate Guaranteed Asset Protection (GAP) and Mechanical Breakdown Protection (MBP) cross-sell opportunities for applicants during the loan origination process. The Frost Financial connector is a seamless integration between the Lifecycle Management Suite and Frost Financial's VisualGAP web service, allowing users to obtain GAP and MBP quotes in a few simple clicks.
About FROST
For more than forty years, our success has been based on “listening to our clients and understanding their needs.” Our goal is to become a trusted business partner by delivering solutions that combine old fashioned personal service with best of market products.
Founded in 1972, Frost has the proven experience and expertise to meet the needs of financial institutions of all sizes and currently partners with more than 1150 Credit Unions/Banks nationwide. Since Frost began offering GAP administration services in 1999 we have grown to become the largest independent (not owned by an insurance company) GAP program provider and our GAP program has become the gold standard in the financial institution market.
Frost Financial in the Workplace
Tyson walks into WC Financial with the hopes of attaining an auto loan to purchase a brand new Honda CRV EX-L. He is greeted by the Assistant Manager, Dylan, who takes him into her office to begin the application process. Dylan begins processing the application within the Lifecycle Management Suite and Tyson is quickly approved. Upon notifying Tyson of the approval, Dylan informs him of the Debt Protection options available to protect him and his investment. Since this is Tyson’s first new car, he is interested in receiving quotes for each product.
Using the Frost Financial screen, the Lifecycle Management Suite passes the collateral information to Frost Financial and receives a quote for GAP and MBP. Dylan presents the quotes to Tyson. He weighs his options and decides to purchase MBP. Dylan processes his request within the Lifecycle Management Suite and proceeds with the remaining Approval workflow screens.
For more information about Frost Financial, please see the Frost Financial Connector Guide.
HYLS Connector
The HYLS connector provides institutions with a series of questions that can be used to capture a more detailed view of each applicant's relationship with the financial institution, as well as their ability to repay a loan. With this connector, a HYLS score is calculated for each applicant on an application based off of a series of questions and answers regarding applicant data, such as FICO Score, number of inquiries in the past 24 months, and Debt to Income Ratio. The HYLS score can then be used to assist institutions with decisioning a direct or indirect application in the Lifecycle Management Suite by determining the positive and/or negative factors that may be associated with lending to the assigned applicant(s).
About LSCI
Lending Solutions Consulting, Inc. (LSCI) is the industry leader in providing training and consulting services to credit unions across North America. Rex Johnson founded the University of Lending, a comprehensive five-day lending school in 1996. He and his team of experts have since trained over 30,000 credit union employees, helping credit unions achieve dramatic improvements in their loan yields, ROAs, and member service practices. In addition to the University of Lending, LSCI offers onsite consulting, HYLS (High Yield Lending Strategy), portfolio analysis, and our newest service – Smart Loan Audit. For more information, please visit http://www.rexcuadvice.com.
HYLS in the Workplace
The following is an example of how an institution can use the HYLS connector during the Loan Origination process:
Automatic Calculation of a HYLS Score in a Direct Application
Marty is interested in remodeling his kitchen and has decided to take out a Home Equity loan. He enters Temenos Financial where he is greeted by Emmett who is a loan officer at the branch. Emmett begins the application process by collecting Marty's demographic and income information. Since Marty is a current account holder, a majority of his information pre-populates in the application. Once all of the applicant data is updated, Emmett enters the loan terms for the application, and collects the collateral information for Marty's home. Upon completion of the collateral information, Emmett pulls Marty's credit report.
At Temenos Financial, rules have been configured to set the risk tier for an applicant based on the credit score; therefore, Marty's risk tier is automatically determined once his credit score is populated in the application. After Marty's risk tier is determined, actions are automatically run to execute rules that set HYLS questions to specific answers based on the requirements met by Marty, and automatically calculate his HYLS score. Since there are questions that must be manually answered, an error is returned that informs Emmett about the HYLS questions that must be answered for Marty in order to continue calculating his HYLS score.
Emmett navigates to the HYLS Score panel in the application, and clicks 
to open the HYLS Details screen. Using data from Marty's application, Emmett manually sets the response to each of the unanswered HYLS questions. Once all of the questions have been answered, Emmett saves the HYLS Details screen, then clicks 
to obtain Marty's HYLS score. Once the score is calculated, Emmett is able to view the top five positive and negative factors associated with Marty's score, as well as a detailed break-down of how his score was calculated.
From the results, Emmett is able to determine that Marty meets the institutional guidelines to obtain the loan, so he proceeds with decisioning the application.
Functionality added to the Lifecycle Management Suite
A new connector page for HYLS has been added to the LSCI folder in the Connectors section of System Management to activate the HYLS connector. Upon activation of this connector, the following functionality is available in the Lifecycle Management Suite:
| Functional Item | Description | ||
| HYLS Score Panel | A system panel available to add to an Application type screen to provide a clear view of the scores associated with each applicant on an application, and enable users to access the HYLS Score Details screen. Within the HYLS Score Details screens, users are able to manually answer HYLS questions, calculate a HYLS score, and/or review a detailed summary of the positive and negative factors associated with an applicant's HYLS score. | ||
| HYLS Fields |
10 new fields that are available under the Application > Connectors > HYLS folder in the Field List for rules, reports, and views. The following two fields are also available to add to Applicant type screens in System Management > Origination > Screens: · Applicants > Connectors > HYLS > Consecutive Employment · Applicants > Connectors > HYLS > Is HYLS Joint Applicant
In addition to the above fields, a new collection of fields for Selected Requirements is now available in the Field List for search criteria, rules, reports, and views. When the HYLS connector is active, fields from the Applicants > Connectors > HYLS > Selected Requirements collection can be added for the primary applicant, joint applicant, or all applicants. |
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| HYLS Standard System-Defined Rules |
29 standard system-defined rules have been added to the Event Processing category in Rules Management for use with the HYLS connector. These rules have been pre-configured to provide institutions with out-of-the-box rule logic that can be used to automatically set HYLS fields based on application and/or applicant data. Each HYLS system-defined rule is disabled by default to allow administrators to review the rule logic and determine the rules to activate for their institution.
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| Set Answer for a HYLS Question Action Template | A new action template that is available under the Applicant entity in Rules Management to provide system administrators with the ability to author a rule using custom logic to set answers to HYLS questions for each applicant. | ||
| Calculate HYLS Score Action | A new action that is available in the Event Processing page in System Management (System Management > Origination > Event Processing) to enable the ability to automatically calculate a HYLS score for each applicant on an application after rules to set answers to HYLS questions have executed. |
For more information on the above functionality, please see the HYLS Connector Guide.
NACHA - Origination Connector
The NACHA - Origination connector provides institutions with a secure method of funding loan applications originated by vendors using ACH transactions in the Lifecycle Management Suite. This connector enables the ability to export payment information for ACH transactions in a formatted file sent to NACHA for processing. With the NACHA - Origination connector, institutions are able to streamline the vendor reimbursement process and develop an easy and efficient method of funding and tracking the payments submitted to each vendor.
About NACHA
For information about NACHA, visit www.nacha.org.
NACHA in the Workplace
The following is an example of how an institution can use the NACHA connector during the Loan Origination process:
Submitting an ACH Payment to a Vendor from an Indirect Application
Trevor, the finance manager at Capital Honda, submits an application for Tony, who is purchasing a brand new Mustang. Upon submission, Charter Financial receives the application via a third party indirect connector and the Lifecycle Management Suite processes the application using rules to assign risk, apply a decision status, and price the application.
Once a decision has been rendered, John, a senior loan officer, receives notification that there is a new application pending within the Dealer Initiated Queue on his dashboard. Upon opening the queue, he is presented with Tony’s loan application. After reviewing the application, he approves the loan and offers the dealer a 7.00% interest rate. The dealer then presents the rate to the account holder and completes the Contract Packet to send to Charter Financial.
After the Contract Packet is received, John is able to disburse the application. As part of the application process, Charter Financial must compensate Capital Honda for the collateral on the application as well as their dealer reserve fee. Since Charter Financial uses the NACHA connector, collateral and reserve reimbursement payments are made via ACH transaction. Upon disbursement of Tony's loan application, a NACHA transaction including the funding information configured for Capital Honda is automatically created. During the NACHA export process, the collateral and reserve reimbursement payments are sent to NACHA for processing in a NACHA formatted file.
Functionality added to the Lifecycle Management Suite
A new connector page for NACHA - Origination has been added to the NACHA folder in the Connectors section of System Management to configure and activate the NACHA - Origination connector. Upon activation of this connector, the following functionality is available in the Lifecycle Management Suite:
| Functional Item | Description |
| NACHA Origination Pending Transactions permission | A new permission available at both the User and Security group levels to provide users with access to the NACHA Origination Pending Transactions page in System Management. |
| NACHA Origination Pending Transactions page | A new page available in System Management (System Management > Origination > Loan > NACHA Origination Pending Transactions) that allows users with the appropriate permission to view and delete pending NACHA transactions. |
| Create NACHA Transactions action | A new action available in System Management > Origination > Event Processing that provides the ability to automatically create ACH funding transactions to send to NACHA during the specified event. |
| NACHAEXPORTPROCESS | A new process (Solution ID 163) added to the tblProcess database table to export the NACHA files to the location identified on the NACHA - Origination connector page for processing. |
In addition to the above functionality, the following features have also been added to the Lifecycle Management Suite to support the ability to add ACH Transfer funding records to an application and configure the vendor funding information that is included in the NACHA file:
- ACH Transfer funding type
- Funding tab in Vendor Management.
For more information on the ACH Transfer funding type, please see the Enhancements to the Workspace and Ribbon Bar topic in this guide. Please see the Enhancements to System Management Features topic to learn more about the Funding tab in Vendor Management.
UltraData Origination Connector
D+H UltraData (UltraData) is a core processing solution for the financial institution industry. Through standard Lifecycle Management Suite mapping and customizable Import and Disbursement Host Values, the Lifecycle Management Suite’s UltraData - Origination connector shares a read/write relationship with the UltraData core that includes the following information:
- Applicant/Account Holder demographic information.
- Core messages.
- Account Holder asset and liability information.
- Application terms, repayment, and collateral information.
- Application funding, payoff, and allocation information.
- Creation of new shares for non-account holder applicants.
- Creation of new loans for applicants.
Applications created and disbursed in the Lifecycle Management Suite are updated in the UltraData core in real-time to ensure that an institution is working with the most current data available.
About D + H
D+H is a leading North American provider of secure and reliable technology solutions to domestic and global financial institutions with a reputation for being a trusted partner that helps clients build deeper, more profitable relationships with their customers based on rich industry and market insight, and consumer knowledge. Over 6,000 banks and credit unions rely on D+H to deliver solutions across three broad service areas: Banking Technology Solutions (Enterprise, Lending), Lending Processing Solutions, and Payments Solutions. For more information visit http://www.dh.com.
XP2 Origination Connector
Fiserv XP2 (XP2) is a core processing solution for the financial institution industry. Through standard Lifecycle Management Suite mapping and customizable Import and Disbursement Host Values, the Lifecycle Management Suite’s XP2 - Origination connector shares a read/write relationship with the XP2 core that includes the following information:
- Applicant/Account Holder demographic information.
- Core messages.
- Account Holder asset and liability information.
- Application terms, repayment, and collateral information.
- Application funding, payoff, and allocation information.
- Creation of new shares for non-account holder applicants.
- Creation of new loan accounts for applicants.
Applications created and disbursed in the Lifecycle Management Suite are updated in the XP2 core in real-time to ensure that an institution is working with the most current data available.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.
