Business Model

eLoans Consumer Finance Solution can suit Banks or Specialized Financial Divisions (hybrid schemes financial subsidiaries of retail firms, big retailers that self-finance their products) that focus on an extended network of Business Partners that act as intermediaries to the end consumer.

The model suites any type of organization or can serve multiple parallel or alternative networks of business units from top strategic partnerships, down to the point of sales and salespersons. The solution is highly parametrical, allowing the implementation of different business models:

• End customers are individuals buying loans credit cards or other consumer finance products from the Financial Institution through a network of Business Partners.
• Business Partners sell Financial Institution's products, along with their commercial products, acting as intermediaries between the Financial Institution and the customers. They submit all loan applications, on behalf of their customers, through phone, fax, and web and send additional documents to the Financial Institution. They are responsible to communicate with the Financial Institution for approval decisions on loan applications.
• A company has several intermediaries, and every intermediary has several salesmen.
• A partnership contains a group of companies (it can be for example a franchise network).
• A domain is a group of partnerships. It can also be a joint venture between the Financial Institution and one partner.

The Internal Credit Bureau (ICB) is a key concept to the solution and it consists of a central database that holds all customer information from all parallel business domain, covering credit risk and operational needs (caution list information, customer identification, fraud, collection classification etc).

To support this decentralized business model, there will be a number of centrally located operational business units in the Financial Institution; they are called platforms and have both inbound and outbound interactions with Business Partners and customers through multiple communication channels (fax, phone, web, e-mail, post).