Rams case study

Figtree Systems, with the FigLoan product, worked with RAMS to understand the complete, existing process flow. After an in-depth examination of their procedures, Figtree proposed a scalable solution that could meet the needs of workflow, production demand, communication and strategic objectives.

The FigLoan solution created for the company was built in 4 phases.  The project continues and will expand as the demand and business needs change.

Phase 1:  the simple introduction of the Loan Approval process through to the “Sent for Settlement” stage.  Simple but effective.  They introduced electronic Service level Agreement monitoring, Problem escalation and automated emails advising Brokers of the status of the loan.  They captured Broker details, loan writer and valuation details.  This system continues to operate successfully with workflows, emails, letters and validation rules being changed by RAMS staff to change the business practices and receive a return on investment.

Phase 2:  the introduction of a Broker accreditation and document tracking system.  This phase was introduced one month after phase one and was built to incorporate the necessary Broker accreditation documentation regarding, contract (agreement) and version, Broker PI insurance currency and details, License details.  All of which has particular workflows and validation rules regarding the continual knowledge gathering exercise to ensure that Brokers remain current with documentation and certificates as required.  We have also included the SMS’ing of loan writers to advise of status changes for the loan application.

Phase 3: allows for the Loan Writers complete details to be maintained.  A Sales Plan were introduced per loan writer to include business objectives, personal objectives, training objectives and general financial expectations from the individual and RAMS perspective. We are also introduced a call (physical meeting/ conversation) plan and next call plan objective including historical objectives, aim of call and result of call .  This concept is also being introduced at the same time to the Broker companies as a corporate plan for the individual Broker.

Phase 4: is to take the Loan Application process forward from “Sent to Settlement” through the legal stage to cheque production and executed document storage.

There is more to come, however, RAMS are introducing each phase so that business interruption is minimal and maximum design and experience is placed into the new system.

FigLoan benefits to RAMS are remarkable, as FigLoan has offered company-wide improved efficiency. They knew that to compete in an ever-evolving industry, they needed a vendor to support and grow with them. FigLoan offered a needs-based solution that benefited from an immediate ROI and allows for more loans to be handled by the same staffing levels. FigLoan also provided a technology driven, leading edge solution that can compliment both party’s existing relationship. Due to the existing relationship, RAMS saw a seamless transition in data from the existing process to the FigLoan process – a benefit for all.