Any self financing implementation is a slightly longer process of implementation than a ‘PremFina funded’ solution. This is because all the details & configurations (from bank accounts, email servers, document templates, ledgers, credit policies through to business rules etc) belong to the ‘Self Financing’ Client. On the contrary, the funded solution inherits everything of PremFina and adds the relevant white labelling configuration wherever needed.
Note: PremFina Funded is essentially a SaaS implementation/Client within the PremFina platform.
¶ Georgraphical & Regional Considerations
- Countries
- Currencies
- Holidays
- VAT and Taxes (associated with different Securities)
¶ Key Configurations
¶ Host Company (i.e. Self Financing Company)
- Interest Setup & Contacts
- Operating structure - Branches, Centres
- Calendar - Working days
¶ Finance Products
- Interest Charge Considerations
- Default Payment Method
- Available from/To
- Defer First Due date by
¶ Schemes
- The number of different schemes required.
- The rates for the different schemes
- The number of instalments for each scheme
¶ Chart of Accounts
- Nominal Accounts & Codes
- Accounting Journals
- Bank Accounts
- DD BACS SUN Number Setup
¶ Documentation
- Documentation Body
- Documentation Header & Footer
Will the implementation use the standard documentation & headers/footers (similar to PremFina Funded set) or require bespoke letters.
- Email Templates & Application
- Email E-Signature & Frequency to chase end customers
- Email Domain / SMTP
Will the implementation use the standard email templates & headers/footers (similar to PremFina Funded set) or require bespoke emails.
¶ Workflow
- Default Process
- Collections (Direct Debits & Arrears) - Including providers like BACS, Stripe, BrainTree
- Business Rules
- Validations & Mandatory fields
- Bad Debt & Write Offs
Example elaboration of the above
PremFina Funded Credit Policy Please scroll to the relevant sections accordingly- PremFina Funded Business Rules Please scroll to the relevant sections accordingly
¶ Fees
- Default Fees.
- Any Other Fees like Management fee, facility fee, admin fees etc
¶ Credit Policies
- AML/KYC/Affordability Rules & Criteria
- Credit Reference Agencies (Experian, Credit Safe, Equifax)
- Automated Decision Engine
- CAIS Return
¶ Data & reports
- Any Bespoke Data extracts required & frequency
- Any Bespoke Reports required & format
¶ Integrations
- API Integrations
- Traditional CSV/Batch Integrations
- Direct Entry & Management using our Portal
Please refer to the following sections below to get more understanding of our integrations
- Integrations & Omni Channel Different channels to connect with PremFina Platform
- Integrations Guide All technical details to our Integrations
¶ UAT
With configuration changes, it is important that user acceptance testing is conducted to ensure all configurations work as expected.
Our team of business & technical consultants will help guide the UAT process to advise where more testing is required than other.
¶ Training
Although a lot of video tutorials, user guides are there on this Wiki, we at PremFina understand that the human element of training is often needed to ensure that all are on the same page/ thus leaving no chance of any ambiguity. This is especially with larger instituions whereby train the trainer concept is generally adopted
- Video Tutorials Get hands on walkthrough of our portal
- User Guide Get step by step instructions of managing various processes
Note: A quicker SaaS implementation could be simply piggy backing of all the default configurations for PremFina Funded and then reskinning the parameters accordingly.