Clone applications
When you want to create a new Loan or a Lease application that is similar to one of your current applications, you may have to enter a lot of similar data again manually. A considerable amount of related records may have to be copied over to the newly cloned application, such as the documents uploaded, credit pulled, fees, and more.
To address this problem, from the Spring'23 release, Q2 Origination has been enhanced to provide you with an ability to clone your current application to a new application without needing to enter all data manually again so that you can save the time and effort and be able to efficiently create and submit new applications.
Business scenarios where cloning helps
You can reduce data entry in a business loan or lease application where repeated businesses are involved.
You can create a drawdown or takedown applications multiple times with the exact same details.
You can create a clone application to initiate contract creation for a subset of assets underwritten at a deal level.
Applications eligible for cloning
The following applications can be cloned:
Loan applications
Lease applications
Can you clone an application
You can clone a loan or a lease application at any point in the loan origination process and the application is cloned depending on the status of the application that is set by you.
Configuring application cloning within your system.
You must first configure the cloning of the application to be able to clone it. To know how to configure, see the Application Clone Configuration section of the Q2 Origination Administration Guide.
A list of 14 Application Clone Configurations are preconfigured in the system when you upgrade to or install the Spring'23 release. If you need to change or add more, you can do that too. For more information, see the Application Clone Configuration section of the Q2 Origination Administration Guide.
How to clone an application
You can clone an application by selecting the Clone Applications button in the Loan or Lease dashboard.
Prerequisite
A loan or lease application must be created.
Pop-ups must be allowed in the Settings of your browser for this application site.
Steps
In the Loan or Lease dashboard, select the Clone Applications button.
In the Clone Application confirmation window, select Yes.
This opens the newly created cloned application in a new tab. If you have not blocked the pop-up notification, then you will not be able to see this new application on a new tab.
Application Clone Configuration
To configure the cloning of a Loan or a Lease application, Q2 Origination provides you the Application Clone Configuration
Application Clone Configuration helps the system decide the related details such as the records of an object related to the application that must be copied to the new application when an application is cloned.
For example, while cloning an application, you can specify the Party object to copy the related Party records to the new application. You can create many such configurations and also specify the order in which the system must use these configurations while cloning.
If an object is present in the configuration, all the associated records of that object are copied over unless a filter criteria is specified.
Thus, by creating such a configuration, you are actually configuring a query that helps you to choose the object from which you want the records to be copied when an application is cloned.
By default, a list of 14 Application Clone Configurations come preconfigured in the system when you upgrade to or install the Spring'23 release. If you need to change those, you can, and if you need to add more, you can do that too.
The following image displays a list of 14 Application Clone Configurations that are preconfigured in your system:
For more information, see the Application Clone Configuration section of the Q2 Origination Administration Guide.
Outcome of cloning an application.
When a user initiates Clone Application on an application, the following actions are performed:
The data in the fields of the current application are copied to the new application and a new application is created with the following values:
Application Status: NEW - ENTERED
The cloned application has all the data as per the defined configuration.
Document Categories, Tasks, and Policy Exceptions: These are generated as per the Org configuration. and resolved according to their configuration, if any. If you have completed all tasks and then cloned the application, then the tasks are generated again for the new application.