Add the hosted 'Check Profile' widget in the 'During' transition in the blueprint.
Click Add > Widgets - The list of available widgets in your CRM will be displayed.
States in this Blueprint:
- Approval Pending : It is the default status of a newly created record in the loan module.
- Active: If a person has a good loan repayment history, then the loan application will be sanctioned as per the banker's decision, and the status for the newly created loan will be 'Active'.
- Closed : When a current loan is closed by the bank, the record's status will be 'Closed.'
- Default : When any previous loans remain unsettled and the person is unavailable when a bank approaches for repayment on or after the payment due date, it is considered a fraudulent act. Such loans will be marked as "default". In such cases, the bank will decline the current loan request, and mark it as 'Rejected'.
- Rejected : If a person has a bad repayment loan history or defaults, the bank will decline the loan, and the record's status will be 'Rejected'.
The below GIF represents a set of records waiting for approval from the bank under the Approval Pending custom view.
When the banker accesses the individual loan request, he/she will see the 'Check Profile' transition button. Using this transition, the banker can view the custom widget that displays the loan history and other details required to make a decision.
Here, the banking personnel can approve the loan by verifying the details. If the user has a goo score and repayment history, the record will move to the Active state (newly requested loan).
If the applicant possesses any existing outstanding loans, lacks sufficient collateral, fails to provide verifiable income proof, or exhibits a history of defaults, the bank will decline the request, and the record will be moved to 'Rejected' state. This will help a bank to avoid fraudulent acts.
How will the CRM fetch a person's loan history from a third-party website?
To retrieve a person's current and previous loan status from a third-party website, banks employ different processes in different countries.
The credit score will be tracked based on different Unique IDs issued by each country to their citizens. These details can be fetched from their respective websites using widgets.
For example :
- USA - Social Security Number.
- UK - The National Insurance Number.
- Ireland - The Personal Public Service Number.
- India - Permanent Account Number, etc.
We hope you found this post useful. Let us know your thoughts in the comment section or reach out to us at
support@zohocrm.comCheers!!!
Further Reading