Applications that successfully pass all of the credit criteria are directed to Esign their loan agreement. This is carried out using a sub module of the Sentinel Web Portal.
First steps see the customer provide their mobile number to which a unique PIN is sent that is used to validate the applicant is the party signing the agreement.
They then sign their documents in the following order
- Adequate Explanation
- Loan Agreement
On the loan agreement the customer has the option to either draw or type their signature.
Once all documents are signed the application will be passed through the Proposal system workflow during which any final checks are conducted ahead of payout.
For some Secured and Car Finance agreements, introducers are informed of the decision and are given the ability to produce the documentation from the 1st Stop Web Portal. Once signed by the end customers these documents, plus any additional information, is uploaded to the Portal. This initiates a movement in the Proposal workflow notifying a user at 1st Stop that the deal is ready to move to Payout.
The customer and introducers are updated throughout the payout process by email and SMS. They will also be sent a copy of all loan agreements by email prior to the loan account being made live.
Once in the payout system, Sentinel has the ability to allocate funds to be paid out to the Dealer/Introducer of the deal or directly to the customer. The system will also track and deal with payments for commissions to introducers and brokers.