Loan Approval Workflow

This Loan Approval Workflow feature allows you to modify your loan approval process to include approval gates which must be cleared before approval and eventual disbursement of loans.

Your Originate Portal has three default approval workflow templates.

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• No Approval Workflow: The application is reviewed and approved by the same user and the loan is automatically disbursed once approved.

• 1-Step Approval Workflow: The application is reviewed by one user and sent to another user for approval. The loan is automatically disbursed once approved

• 2-Step Approval Workflow: The loan application is reviewed by one user and sent to another user for approval before being sent to another user for disbursement.

Activate an Approval Workflow

By default, No Approval Workflow template is active on your platform. An Admin or any user with sufficient permissions can activate another approval workflow. The activated workflow then becomes the default workflow on your portal. Here are the steps to activate a workflow:

1. Go to Settings → Approval Workflows

2. Go to the workflow you want to activate, click on the three vertical dots and click on Set Active

3. Click Yes

Create a Custom Approval Workflow

As an Admin, you can create a custom Approval Workflow and add as many steps as you wish.

To create a custom workflow, here are the steps to take:

1. Go to Settings → Approval Workflows

2. Click on Create Custom Workflow

3. Enter the Workflow Details

4. Add your Approval Steps. Each approval step requires an Approval Type and User Role and you can add as many steps as you wish. Click Create Workflow when you’re done.

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