42™ incorporates a suite of unique tools for Mortgages. From the front-end Application initiation including extensive credit analysis, to Mortgage Processing, Customer Relationship Management, Accounting, Risk Management and Compliance. Together, these functions enable high levels of delegation and automation, as well as transparency of information and workflow, which is critical for a single end-to-end Mortgage system such as 42™.

Application initiation and processing

42™ delivers a complete web-based application tool for Branches, Intermediaries and Head Office. All information is displayed in real-time and includes offers available and full details of applications in process.

These range from standard information such as names, addresses, credit and employment history, financial budgets, solicitors, property details, proof of identity, address, income, and DD instructions, through to other products available such as home & contents insurance.

Credit checks can be performed on-line either directly by the applicant as a pre-application check or as a part of the offer workflow.

Anti money-laundering facilities include fully customisable mandatory documentation check lists and regulatory identification of intermediaries.

Best practice business process support includes detailed personal budget and affordability checks, clearly documented business terms and conditions, and illustrations of repayment details under various rate scenarios. All are displayed in an open format to comply with current legislation.

42's Customer Relationship Management capabilities can be used corporate-wide throughout the mortgage provider, or as a specialist repository for the mortgage business integrated to your enterprise-wide CRM systems. 42's native XML capability provides for simple connection to Credit Bureaus, enabling seamless access to credit data for storage, scoring and analysis.

Custom fields enable you to store all the information your business requires, ensuring effective customer management and a proactive approach to service.

42™ is web-based, providing you with a low-cost way to establish and maintain direct relationships with all your customers, wherever they are located.

Accounting

The system supports automatic generation of new accounts on completion of mortgage applications, as well as multi currency-accounting (Euro compliant) transaction capture and reporting. 42™ also delivers the necessary output for IAS39 compliance (both macro and micro economic approaches).

Compliance

The 3 pillars of Basel II are all supported by 42™, as well as base level, standardised and advanced approaches to the IRB:

• Based on risk factors and SDL information, the system calculates and reports on capital adequacy requirements both historically and for projected future business.
• All data, workflow and result-sets are 100% transparent due to 42's unique single database concept, enabling consolidation of all aspects of the business.
• Total data integrity enables immediate disclosure of information, by practically eliminating the need for inter-system reconciliation.