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Workflows ​

Banclo provides a simple and easy way to define workflows for how to interact with the different loan applications.

Generally these are used to control the necessary approvals that a Lender house needs to go through before a particular step is approved

Currently Banclo supports the following workflows:

  • Bid Request to Bid Quote : This workflow is used to create a bid quote from a bid request.
  • Bid Quote to Sanction Request: This workflow is to move the application such that a sanction letter stage, prior to it being created/uploaded.
  • Sanction Request to Sanction Letter: This workflow is to move the application such that a sanction published to the client.
  • Pre Deed to Deed: This workflow is to move the application such that the application can now schedule a deed.
  • Post Deed to Closed Signed: This workflow is to move the application into a closed phase.

Creating a workflow ​

Navigate to the Workflow section under setttings. Click the workflow type. Note: only one workflow can be created for each workflow type.

Adding a condition ​

on the top right hand side of the screen you will see a button that says add condition. This button will trigger a popup that will allow you to add a condition.

The current condition types is based on the principalAmount linked to the approved bid. The condition can include a minimum and/or maximum value. both values are inclusive in its calculation.

Once the node is added, select the users that will be responsible for approving the condition. To add a person click the Add Person icon found underneath the condition node and select the user from the list. It is recommended that for each approver layer you add a minimum of 2 possible approvers.

Other approvers can be added to the workflow by click the PLUS button at the end of one of the lead condition nodes. The popup allows you to select either internal employees or the external participants (Currently external participants are not supported).

How the workflows work ​

Whenever one of the above workflows are triggered, they are associated with what is called a REQUEST. The request is created with a status of pending and is associated with the application. The request on creation references the workflow which matches one of the conditions created. The workflow engine will send a notification to the reponsible users in the first layer of approvers. Once one of the latter users approves the request, the request is updated to the next approver. This process continues until the request is approved or rejected. Each and every time the request is updated, an audit log is created.