xCP Debt Review Application

1. xCP Debt Review Application Demonstration Steven Etberg Senior Systems Engineer Information Intelligence Group EMC South Africa

2. Background of Debt Review in South Africa The Role Players

3. Role Players • Debt Review processes in South Africa involve 4 main role players, namely: • The consumer • 3rd Party Debt Counsellor (Authorised Financial Advisor/Service Provider) • The Credit Analyst at the bank • The National Credit Regulator We will now look at these roles in more detail…

4. Understanding the Role Players • The consumer • Consumers that are over-indebted with credit struggle to repay their monthly instalments and oft times become insolvent, unable to settle any of their liabilities with credit lending organisations. • In order to help these consumers, they have the opportunity to apply for Debt Review, whereby they approach a 3rd party organisation registered as a Financial Services Provider which is also registered with the National Credit Regulator, who will assist the consumer in consolidating debt and applying for better rates and terms with the banks on behalf of the consumer

5. Understanding the Role Players • Debt Counsellor • Debt Counsellors in South Africa are 3rd party financial advisory companies or practitioners that must be registered Financial Service Providers • Debt Counsellors must also be registered with the National Credit Regulator of South Africa • Debt Counsellors provide a service to consumers to negotiate with banks on the consumer’s behalf to apply for better rates and terms on their credit repayments to help the consumer meet payments and assist them in consolidating debt

6. Understanding the Role Players • The Credit Analyst at the Bank • The credit analyst verifies and analyses the consumers debt review application submitted by the debt counsellor making a final decision as to whether the proposed changes to the consumer’s repayments will be accepted or not. • The credit analyst will liaise with the legal department, credit bureaux and NCR. • The credit analyst will also perform negotiations with the debt counsellor in cases where the debt counsellor’s proposal is not within mandate.

7. Understanding the Role Players • The National Credit Regulator • The National Credit Regulator (NCR) was established as the regulator under the National Credit Act 34 of 2005 (the Act) and is responsible for the regulation of the South African credit industry. It is tasked with carrying out education, research, policy development, registration of industry participants, investigation of complaints, and ensuring enforcement of the Act. • The Act requires the Regulator to promote the development of an accessible credit market, particularly to address the needs of historically disadvantaged persons, low income persons, and remote, isolated or low density communities. • The NCR is also tasked with the registration of credit providers, credit bureaux and debt counsellors; and enforcement of compliance with the Act

8. Demonstration The xCP Debt Review Application

9. Meet Joe Bloggs An everyday consumer, is over-indebted and cannot afford his monthly repayments on his car, mortgage bond, credit cards and clothing accounts. Every month, he cycles payments to only two of these credit providers at the risk of falling further in arrears with the other providers.

10. Joe’s situation has become desperate and he has decided to take control of the matter. He promptly goes to a registered NCR debt counsellor practitioner in his area, ABC Debt Counsellors and speaks to the financial advisor there named John Smith about consolidating his debt and applying for better rates on his repayments for these accounts.

11. John Smith John Smith from ABC Debt Counsellors is glad that Joe has come for help. The first thing John does with Joe is identify all the credit accounts Joe has. John consolidates this list of accounts and contacts all of the banks for those accounts to provide a certificate of balance for the listed accounts, so he can verify the current balances, remaining terms and rates that Joe is paying.

12. For all the accounts that Joe has with this particular bank, John is given a number of options by the bank with which to request the certificate of balance for Joe’s accounts to make life easier and faster for John, namely: • Fax • Letter • Online Form (Portal) • Offline Form (Portal - via email) • Simple Email request John prefers to use the new portal offered by the bank with their new xCP solution so he can track the progress online...

13. John browses to the bank’s Debt Counsellor portal and logs in

14. Once logged in he can see all of his submitted applications and their progress under the My Cases tab. Because he is doing a new application for Joe, he clicks on the Forms & Downloads tab

15. John is presented with a list of available electronic forms he has rights to. For this debt review application, he will click on the Download button for the 17.1 Debt Review Notification Form

16. The 17.1 Debt Review Notification Form loads. John now completes the form. The form has mandatory fields outlined in Red, and has fields that dynamically show/hide based on selected options.

17. John starts by entering his Debt Counsellor information. You will see that John’s company has to be registered with NCR as he must enter his NCR number.

18. He then scrolls down to complete the remaining details. He also has to register this transaction with the NCR and enter the NCR Reference number.

19. John has finished completing the form. He scrolls to the top of the form where he can submit it immediately online by clicking the Submit Form Online button, or he can email the form by clicking the Email Form button. John click’s on Email Form … This form is offline compatible and can also be saved locally to the Desktop and submitted via email at a later stage. This action automatically creates a new email message, auto populates the recipient and subject and attaches the completed form to the email. John simply clicks Send and this emails the application form to the bank.

20. At this point, John’s email has been sent to the bank and the xCP application is monitoring the mailbox for new applications…

21. Next, the process automatically extracts the information in the form and binds it to the process data. Then a case file is automatically created in Documentum and the data from the form is bound to the attributes of the case file and the form itself is dropped into the case file. A unique Case Number is also generated The process then updates the Debt Counsellor portal by adding John’s application to his submitted applications list and sets the status to Received. The process also sends an email to John to notify him that his application has been received. Once John submits the application form via email, this process is monitoring the email address where he submitted the form to and will instantiate this process as soon as the email reaches the bank. This first step in the process attaches the email form attachment to the process

22. John receives the automated email that his application has been received.

23. He now has a unique case reference to use for future queries. John clicks on the link provided in the email that takes him directly to the Debt Counsellor Portal.

24. John is requested to login if his previous session has ended.

25. Once logged in, John now sees his application listed under his Cases tab and the status is Received. John can always come back here to track the status of his applications.

26. Meanwhile, the xCP Debt Review process is still automatically processing John’s application…

27. Next, the process automatically generates the Certificate of Balance, merging process data and data retrieved from the mainframe into a pre-defined document template using the xPression software component. The Certificate of Balance is then emailed to John and the Debt Counsellor Portal status is updated to COB Submitted. The process automatically integrates into the mainframe to verify that Joe Bloggs is a consumer on file and that he has accounts with the bank. The process also would integrate directly with NCR to determine if John Smith’s business, ABC Debt Counsellors, is regsitered with NCR and that John has registered this transaction with NCR.

28. John receives the automated email containing the Certificate of Balance attachment…

29. John receives the automated email with the Certificate of Balance. He clicks on the provided link to monitor the status of this application…

30. John now sees the status of this case is now at COB Submitted

31. John returns to his email to now view the Certificate of Balance that was attached to the email…

32. The Certificate of Balance contains details of all Joe Bloggs accounts with the bank, detailing the account type and the current balance, terms, instalments and rate.

33. John now works on a proposal to take back to the bank, to re-structure the current repayment plan that Joe Bloggs has with them. This process may take a few days for John to complete.

34. While John is busy working the proposal, the process at the bank continues…

35. At this point, the process has reached its first Manual activity where human intervention is required. This is where the Credit Analyst at the bank will verify all the correct and required documents have been received. We will now see what happens here…

36. Meet Connie Connie is a Credit Analyst in the Debt Review Centre at the bank. Connie has just received a new task in the xCP Debt Review application. The task instructs Connie to verify whether all the required documentation has been received for Joe Bloggs' debt review case.

37. Connie accesses the xCP Debt Review application interface and logs in.

38. The Home page of the application provides useful external Quick Links that Connie will utilise in making informed decisions on debt review applications, such as to the NCR website, credit bureaux etc. Connie now clicks on the Debt Review Tasks tab to view tasks currently assigned to her.

39. Connie sees a task for Document Logging and Verification. She can see in the other columns the case number, NCR Ref, the Customer details and Debt Counsellor. This allows her to easily distinguish the different debt review applications from each other when there are a few actively running. Connie opens this case for Joe Bloggs…

40. Connie sees straight away that for this task, she has to verify if all the required supporting documents have been received, with an option to tick off the received docs. In order to see what documents have been received from the Debt Counsellor John, Connie clicks on the Case File tab….

41. In the Case File tab, Connie is taken directly to the case file in Documentum, where a pre-defined taxonomy was created with sub-folders in the case file. Connie looks in the Proposals folder to see if she has received John’s proposal yet. She only finds the Certificate of Balance. Connie then views the other tabs to learn more about the case…

45. Connie returns to the Document Tracking task tab. Because none of the required documents are received, she clicks Save and select next actions.

46. Connie selects to Request both the Proposal and the Restructuring documents from the Debt Counsellor, John.

47. John has been busy working on the proposal and has finally completed it. He checks his mailbox and sees he has received two emails from connie.

48. John has received an email from Connie requesting each of his missing supporting docs.

49. John replies to the first email that was requesting his proposal. He attaches his proposal to the email and sends the email.

50. Back at the bank, the xCP application is monitoring the mailbox that John replied to. It receives John’s email and automatically takes the attachment and sends it through an automated OCR extraction process using Captiva Dispatcher. In this case, John’s proposal document was successfully extracted by Captiva and automatically placed into the case file in Documentum. The OCR data extracted from the document was used to determine the case file and automatically link it as well as populate the attributes with extracted information.