Document definition setup

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Document definition setup

Documents are an integral part of financial institutions (FIs); these documents can be generated by the FIs, or can also be submitted by the borrowers or lessees as a part of a loan or a lease application as required during an origination process.

With Q2 Origination, the FIs can enforce the documentation requirements associated with a loan or a lease application that are based on the type of product, the associated collateral, or the party type. The FIs can also define a rule-based document checklist using attributes that drive the set of documents that are required for an application. This can increase operational efficiency  and can reduce any manual intervention that may be required by a financial institution officer to add a specific document type.

The documents checklist is automatically updated any time an application is created or updated, any time a party is added to an application or updated, and any time a collateral is added to an application or updated.

This enhancement improves document checklist automation and policy compliance by enabling FIs to automatically generate and enforce rule-based document checklists throughout the origination process.

For example, an FI can now automatically enforce the requirement of specific document types based on the result of a risk assessment.

You need to perform the following steps to configure a document definition:

Step 1: Configure a document definition

Step 2: Create a rule-based document

Configure a document definition

Creating a document definition means creating a document type and specifying its details as needed for a loan or a lease application or for an FI. These details can be the name and the description of the document definition, if it is to be used mandatorily, or if it is to be displayed on CL Portal. 

Prerequisites

None.

Steps

To create a Document Definition, perform the following steps:

  1. Log in to your Salesforce account.

  2. Select  (App Launcher).

  3. Search for Q2 Origination, and then select it.

  4. On the Origination Configuration tab, select  Document Definition.

  5. Select New Document Definition.

  6. In the New Document Definition section, perform the following actions, and then select Save:

    Field Name Action and Information
    Document Definition Name Specify a name for the new document definition you are creating.
    Object Type Specify the type of object for which you want to configure the document definition.
    Required Select this checkbox if it is mandatory to upload the document.
    Priority

    Select one of the following:

    • High
    • Normal
    • Low
    Note:

    If there are multiple documents, the priority (High > Normal > Low) decides the order in which the documents are to be listed.
    Reuse Document

    Select this checkbox if you want to use the document later.

    Note:

    This checkbox cannot be used for the Application object type.
    Active Select this checkbox to make the document active for use.
    Description Provide a detailed description of the document definition.
    Show In Portal Select one option that needs to be shown on the portal.
    Document Type

    Select  to select a document definition.

    Note:

    This is required if you want to define a new document type in an existing document definition. 
    Account Type

    Select the type of the accounts for which you want to generate the document categories using this document definition.

    Note:

    • If no account is selected then no document categories gets generated.

    • Multiple account types can be selected.

    • This field is applicable only for the Object Type: Party.

    • This field is displayed only if the Account Based Documents Generation org parameter is selected.

    • If the Account Based Documents Generation org parameter is selected, the New Document Definition displays Type of Accounts section as highlighted in the following image:

Create a document definition for covenant with the object type as Party

To create a document definition for covenant with the object type as Party, follow the 1-6 preceding steps and specify the following as mentioned:

  • Object Type: Party (clcommon_Party__c)

  • Reuse: True

  • Document Type: Keep it empty

Create a rule-based document

By creating a rule-based document, you are defining certain criteria for a document definition. Based on these criteria, the required documents are collected for the loan or lease application as required during an origination process.

For example, a rule is created on the Application (Object Type) to collect the address proof and income proof documents for the loan and the lease application. So, when a loan or a lease application is created or updated, this rule is executed. It enforces the bank officials to collect all the required documents.

Prerequisites

Before you proceed to create a rule-based document, ensure that the following prerequisites are met: 

  • The Use Rule Based Document Management checkbox is enabled.

    Note:

    To know how to enable this option, see Enable Rule-Based Document Management.

  • A document definition is configured.

    Note:

    To know how to configure a document definition, see Configure a Document Definition.

Example

For a better understanding, this concept is being explained with the help of the following example and the set of steps on how to go about it:

  • The following three criteria are defined to ensure that the address proof and the income proof documents are collected for a loan application:

    Rule Name Validate Rule Name Validate
    Object Type Application
    Related Object Application Application Application
    Field Name Loan Amount Asset Class  Interest Rate
    Operator >= DOES NOT CONTAIN <
    Value $50,000 random 30%

  • Evaluation Rule is $1 && $2 || $3.

    What this rule means is that the address proof and the income proof documents are collected for all the applications that have:

    Loan amount>=$50,000 and also their Asset Class does not contain the word 'random' or the applications that have Interest Rate less than 30%.

Steps 

To create a rule-based document, perform the following steps :

  1. Log in to your Salesforce account.

  2. Select  (App Launcher).

  3. Search for Q2 Origination, and then select it.

  4. On the Origination Configuration tab, select Document Definition.

  5. To define the criteria for a document definition, based on which the documents get collected for an application, from the list of document definitions, select the required document definition.

    Note:

    A user can create a Rule only for those documents that have the Document Type mentioned.

  6. To create a new rule, in the Rule window, select Add New Rule.

  7. In the Rule Details section, specify a rule name.

    Note:

    • The Object Type field is populated with the Object Type value selected while configuring the document definition.

    • The document folder is displayed under the selected object type on the Loan Dashboard.

    • Only one rule per object type can be created for a document definition.

  8. In the Criteria Details section, select  (Add New Criteria), specify the value for the Sequence Related Object, Field Name, Operator,  Value fields, and then select Save.

    Note:
    • By performing step 8, you can define more than one criterion. 
    • When more than one criterion is defined for a document definition, in the Evaluation Criteria section, specify the Evaluation Rule.
    •  Evaluation Rule is the order in which the defined criteria should be evaluated. The order is defined using the AND or the OR operators. If the Evaluation Rule is: 
      • $1 && $2, the documents are collected when both the criteria are satisfied. AND condition gets executed before the OR condition.
      • $1||$2, the documents are collected if any one of the criteria is satisfied.
      • Not defined, the criteria is executed as per the AND condition.


Enable rule-based document management

Prerequisites

To be able to create rule-based documents, you must enable the Use Rule-Based Documents flag.

Steps

To enable the Use Rule Based Document Management flag, perform the following steps :

  1. Log in to your Salesforce account.

  2. Go to (Setup ) > Setup.

  3. In the Quick Find box, search for Custom Settings, and then select it.

  4. Scroll down to the Org Parameters label that has the Namespace Prefix as genesis, and then select Manage.

  5. Select Edit.

  6. Scroll down to select the Use Rule Based Document Management checkbox.

  7. Select Save.

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