Origination

LeaseWave lease and equipment finance software manages the entire lifecycle of the lease and loan contract. Its LeaseWave Origination subsystem manages the entire life-cycle of lease and loan applications, from credit adjudication through to approval and subsequent back-office activities. As leasing and equipment finance software, the system can be configured to meet diverse needs, ranging from small-ticket vendor programs that require high degrees of automation to large-ticket transactions, requiring more subjective considerations.

LeaseWave Origination is fully integrated for exchanging information with third-party systems, including credit bureaus, UCC filing companies, electronic vendor payment tools, third-party lease and loan analysis software, property and sales tax tools and document management systems and services.

Application input

  • Use LeaseWave lease and equipment finance software for both internal and external users
  • Input credit applications via easy-to-use interfaces (internal business users)
  • Input credit applications via web portals (external users), including:
    • Vendors
    • Lessees
    • Brokers
    • Sales persons with hand-held devices
  • Integrate with standard third party loan and lease analysis software systems
  • Download applications en-masse electronically from an outside source
  • Tie an application to a workflow per its input source, delineating required and optional information
  • Automatically identify potentially duplicate applications and flag for review
  • Track multiple versions of a transaction as it changes, progressing through a workflow
  • Manage complex applications that involve large, staggered installations:
    • Track multiple progress payments made towards the installation
    • Bill interest and/or interim rent for each progress payment
    • Convert the interim finance to a commenced lease or loan, when needed
    • Identify which user made what changes to a given transaction at each step
  • Ascertain total credit exposure on customer across relationships
    • Customer may be a co-lessee/co-borrower
    • In sale-leaseback transactions, customer may also be classified as vendor
    • Customer may be a guarantor
    • Approve and present multiple offers to the customer of the same transaction

Approval workflows for processing applications

  • Create unlimited workflows for processing credit, based on any subjective and objective criteria
  • Define steps, conditions, tasks that control the direction and progress of a transaction
  • Control user security by role
    • Access is defined at the field level, but is sensitive to transaction progress
    • Access rights to a field is based on where in the workflow a transaction is
  • Trigger automated notification at the occurrence of any event within a workflow
    • Email notifications can be configured for user groups, roles, users, external persons
    • Internal instant messaging to notify any user on the system
    • Transfer information to/from standard third party leasing analysis software

Two-way integration with Credit Bureaus

  • Automatically download credit reports from desired credit bureaus (any standard bureau)
  • Upload customer performance data back to credit bureaus
  • Ability to reuse credit bureau data for subsequent transactions or pull new bureau reports

Credit scoring

  • Instantly access credit reports from any major credit bureau (such as Dun & Bradstreet)
  • Store all credit-data against customers to allow for future data-mining purposes
  • Automatically assess credit score based on configured business rules
  • Use system’s lease analysis software functionality to analyze deals
  • Ensure against accessing the same report more than once, avoiding redundant fees
  • Format credit reports as desired for presentation purposes

Pricing

  • Setup rules and tables to automate pricing calculations
  • Use system’s loan and lease analysis software functionality to analyze deals
  • Pre-define rental factors against each asset-type and customer-transaction combination
  • Generate pro-forma payment schedules and deal analysis information and reports
  • Progressively add intelligence to pricing as more data is accumulated for mining
  • Store all credit-data against customers to allow for future data-mining purposes

Vendor programs

  • Set up any number of master and vendor-program combinations
  • Define program-level parameters: credit conditions, commissions, reserves, billing,CPI, etc.
  • Accommodate for multiple pricing options based on term, residual, equipment type, etc
  • Set up private label vendor programs
  • Use program-level defaults for a credit application or override, as needed
  • Allow for input of credit applications directly from the vendor portal
    • Information can be keyed-in manually
    • Information can be electronically downloaded from third party systems
  • Define document packages to be associated with each transaction based on variables
  • Allow documents to be printed directly from the vendor portal itself

Document management

  • Define documents against any relevant entity in the system
    • Assets
    • Financial Product
    • Customers
    • Vendors
  • Create user-defined documents using standard tools (Microsoft Office, Crystal Reports)
  • Save multiple versions of a document, as it is negotiated, changed or redlined
  • Go back to any revert to prior versions of a document Limit generation and editing of documents through comprehensive security
  • Allow for rider documents to be associated with main documents
  • Format credit reports as desired for presentation purposes
  • Scan and attach documents to the relevant transaction and entity for easy reference
  • Integrate documents with a document storage system for archival and storage purposes

Asset management

  • Set up actual or pro-forma asset information in credit application
  • Convert pro-forma information into actual asset information at any given point
  • Progressively add asset detail as it becomes known
  • Define parent-child and grouping information between assets for operational ease
  • Clone existing assets (or asset groups) for more efficient data entry
  • Manage open-ended interim billing, prior to contract commencement:
    • Charge interest/interim rent on progress payments as assets are built
    • Charge interest/interim rent on fully delivered assets as others are installing