An independent financial services firm, specializing in structured credit, complex asset valuation, enterprise risk, and regulatory compliance, was grappling with the aftermath of the 2007-2008 financial crisis. The firm’s clients were involved in numerous legal disputes that required a rigorous review of risk and exposure to credit-related securities. This tedious process involved answering hundreds of interconnected questions and called for a solution capable of setting up and managing varying questionnaire workflows and providing aggregated information in a single output.
The client was burdened with a manual questionnaire activity process, which was not only time-consuming but also fraught with risk. Furthermore, they lacked modules for automatic calculations based on previously entered data. The challenge was to deliver a sophisticated yet accessible web solution that would facilitate a straightforward loan re-underwriting process, from creating questionnaires to generating high-quality, consistent, and repeatable reports.
Sprinterra partnered with the client to develop a comprehensive web application. This solution handled the full process, from data loading and questionnaire creation to report production. The custom-built modules included document recognition and management, configurable workflows, and a proprietary loan-level rating system. All these features enabled the client to have a precise understanding of their clients’ assets, portfolios, and associated risks. The implemented solution was a cloud-based platform that facilitated forensic research, valuation, and risk analysis of client portfolios from every possible perspective. It supported multiple projects and use cases, with every object type receiving a suitable workflow. Each project was monitored by an assigned manager who could control users, object types, workflows, questionnaires, and other project-related items. The system allowed for complex workflows, offering power users diverse submission and sign-off processes. Specific user assignment rules ensured that each user navigated through the relevant workflow status. Administrators could create and edit questionnaires, while other roles, like Underwriters, could upload data, fill in questionnaires, and run reports. The system’s security was bolstered by limiting access to only those granted by the Administrator.
The questionnaire system included several advanced features. Underwriters could add quotations to answers, there were repeatable forms, and the system could use custom blocks of questions depending on previous answers. The solution also allowed for sophisticated expressions per question and automatic calculations, with manual adjustment options. Moreover, users could import answers from third-party sources, and the results of questionnaires could be shared across different projects.
Improved Company outlook: The new website and client-oriented approach enhanced the company’s reputation.
Simplified Re-underwriting Process: By integrating data uploading, questionnaire creation, and report generation into one system, the re-underwriting process became more transparent and understandable.
Enhanced User Experience: The solution provided a seamless application experience, with features for customizing project workflows, validations, and document attachments.
Increased Transparency: Full tracking of uploads, quotations, and answer changes history provided a high level of transparency, which was a crucial requirement for the client.
Robust Security: Different user roles and permissions ensured a high level of website security.
The platform was built using state-of-the-art technologies, including Microsoft .NET 4.0, Microsoft ASP.NET, ASP.NET MVC3, Microsoft WCF services, Microsoft SQL Server 2008, and Jira/Confluence, designed to provide a robust, secure, and efficient solution for the client’s complex re-underwriting needs.
We can start working on it right now!
To discover how our solutions can help you get to the finish line faster
email: [email protected]
Set-up a meeting at your convenience
Use our Proposal Generator to create your custom Proposal for Healthcare or FinTech
© 2024 Sprinterra. All rights reserved.
