Applications
Modify an insurance policy number
The policy number of an insurance policy, which is required specifically in premium funding, can be modified by navigating to the insurance policy on an application or finance agreement. 1. Select the hamburger menu and under the update section ...
Modify an insurance policy inception date
The inception date of an insurance policy, which is required specifically in premium funding, can be modified by navigating to the insurance policy on an application or finance agreement. 1. Select the hamburger menu and under the update section ...
Modify an insurance policy status
The status of an insurance policy, which is required specifically in premium funding, can be modified by navigating to the insurance policy on an application or finance agreement. 1. Select the hamburger menu and under the update section click on ...
How to find an application
You can find an application by either using the application filter or by using the quick search. To use the quick search. 1. If the application number is known, the quick search option "Applications" can be selected from the drop down list on the ...
Uploading application documents
Document that are specific to an application can be uploaded manually and available to view against the application. 1. Navigate to Borrowing > Applications 2. Use the Filter Options to try and find the application (click on the button once the ...
Override an application status
The application's status is normally set via the results of a decision tree when the application is evaluated. However a finance company may have processes in place where the final approval, or other steps in the process, are completed manually and ...
Edit, assess and evaluate applications
Once applications have been submitted by the borrowers they can be assessed by the credit assessors and evaluated in order to determine if finance will be granted 1. Navigate to Home Pages > Borrowing: NOTE: If the application number is known, the ...
Days required for currency exchange
An option exists on applications to indicate the number of days it will take to exchange currency. This can be used when the pay-out / disbursement for the application is required to be converted to another currency after the platform has disbursed ...
Invoices
Invoices can be loaded against applications in two ways: Invoices for predefined vendors. i.e. vendors that have been defined in Fusion. Ad hoc invoices where the vendor is not pre defined Once you have filtered and located the application that the ...
Override the establishment fee
The establishment fee is calculated using the establishment fee tables and the credit rating assigned to the application when it is evaluated. At times the users need to have the ability to override the establishment fee when doing the credit ...
Insurance policies
The insurance policy details can be added to an application either from the menu items while viewing an application OR directly from within the edit application page. 1. To add using the menu items from within an application: Once you have ...
Commencement date
This is the date that the borrower will be making a payment for arrears amounts that occur as a result of a backdated application. The commencement date is the date the borrower will pay the outstanding payments that are between the start date of the ...
Who created a document
This process will assist with determining who the creator of a specific document was. In Clearmatch, look up and display the details of the Finance Agreement or the Application of the document in question. 1. Select the Documents association tab ...
Create SMS from an Application
There is an option in Clearmatch Fusion that allows finance company users to send SMS messages directly from an application. They can select the available SMS templates (based on the SMS configurations defined) from a list of applicable messages and ...
Where are finance agreement funds disbursed by default
There is a business rule in Clearmatch that will allow you to select where the finance agreement funds will be disbursed by default i.e. if specific instructions for disbursement are not supplied on the application. 1. Go to Configuration-> ...
Create an approved payee
You can create an approved payee which is a company, institution or individual that has a specific payment agreement setup for the convenience of the borrower. 1. If the approved payee is a business, first create an organisational customer record ...
Tax levies on borrower income
Income tax tables and levies can be used to assist in calculating the income value of personal borrowers. The income tax tables is a high level tax percentage that can be applied to income values to estimate the “after tax” values. Clearmatch is not ...
Henderson poverty index HPI table
HPI (henderson poverty index) tables contain the values that will be used during application evaluation to calculate the net disposable income of the borrower, if the option to use the henderson poverty index is applied. See the surplus calculation ...
Credit bureau- intervals for obtaining a credit file
When a evaluation is done on an application, there could requirements or settings setup for a credit bureau check to be performed. A new credit check will only be performed if the party for which the credit check is being done, does not have an ...
Application expenses using COLA, HPI, HEM or actual expenses.
During the evaluation of an application the borrower`s income and expenses are taken into account to see if they can service (afford) the repayments on top of their everyday expenses. The platform caters for 4 options to be used to assist in ...
Start date and first payment date of the finance agreement
The start date and the first payment date of an application can change during the life cycle of the application. This is due to a number of unknown factors such as: The borrower starts an application online, but we have no way on knowing how long it ...
Disbursement of funds for a finance agreement
A disbursement / payout is the payment of money for a finance agreement. When an application is purchased to become a finance agreement, the funds for the finance agreement can be disbursed to one or multiple parties. When an application becomes a ...