Over the past month, the team has been working hard developing new features for our credit union partners and to bring more automatic digital services to Apollo Infinity.
Below are just some of the new features that we have been working on during July.
New Payee Request + Workstream
APL-836 A major new workstream that automatically processes new payee (bank) account requests from your members, with the further ability of sending them to reference agencies to verify their information. While this has been in place for sometime now, it was managed by the legacy system TaskStack, this brings it into a single portal Launchpad and works just how you're used to with other workstream items such as Loan Applications.
Online Account - No Reference To Member Number Once Accessed
APL-1511 From credit union feedback, we've made it a little easier for members to remember their membership number, we now show it on the mobile app and within the web portal so it's quickly visible to them.
Clearbank Real-Time Payments
APC-4872 We have partnered with Clearbank to offer real-time payments directly into your members bank accounts, our advanced payment routing system can use withdrawal requests or loan disbursals to pay funds from your banking account directly without having to upload files to your bank. It also operates 24/7 you can provide a banking service out-of-hours to your members.
This is a major feature that supports our Apollo Core back-office offering, although uniquitly with the architecture of Apollo Launchpad it can also upgrade your existing back-office to support real-time payments too if you do not want to switch providers.
Clearbank Real-Time Deposits
APC-4338 We have partnered with Clearbank to offer real-time deposits directly into your members accounts, our advanced payment routing system can ensure the funds are available to the members in seconds and you can further use the workstreams to send out notifications to the members advising them you the deposit has been successful.
An additional feature is that you can also use "Virtual Accounts" to give your members their own sort-code and account number so they can make payments directly into their own accounts, although the feature can also use bank references or 'roll numbers' style references to route payments to your members accounts.
This is a major feature that supports our Apollo Core back-office offering, although uniquitly with the architecture of Apollo Launchpad it can also upgrade your existing back-office to support real-time deposits too if you do not want to switch providers.
LendingMetrics Defaults Scorecard Signals
APL-720 A new signal to automate the handling of defaults in LendingMetrics / Equifax credit searches. Working with previous linked, stated and new linked addresses you have the flexibility automate defaults based on the number, months since and value.
LendingMetrics CCJ Scorecard Signals
APL-719 A new signal to automate the handling of CCJ's in LendingMetrics / Equifax credit searches. Working with previous linked, stated and new linked addresses you have the flexibility automate unsatisfied CCJ's.
Don't send messages during a quiet period
APC-4865 All Chat Message workstream messages have now been upgraded with quiet period, this allows you to set periods where messages will not be sent to the member and instead queued up until the quiet period finishes. Can be useful in some situations, although we recommend use this sparingly as some members performing a password reset at night might not want to wait until 9am for them to get the message.
Filter to identify disbursal to an OpenBanking connected account
APL-1351 It's possible to improve the reliability and security of your loan disbursals by requiring that loans are disbursed to an account connected via OpenBanking, you can also use this filter to identify disbursal accounts to non-OB connected accounts and tag or move them appropriately for further review.
New interface for editing loan applications
APL-1604Following feedback from our partners we have completely overhauled the loan interface system so it is easier to make changes to loan parameters and see the results live, this takes the guesswork out of loans. APR, total interest and total repayable are immediately updated.
With some backoffices it is also possible to directly edit the repayment amount and have the term calculate automatically giving you that extra flexibility in setting exact repayment amounts to suit your members circumstances.
We're really excited about this change, and even though it's in early access at the moment we will be rolling it out to all tenants gradually.
In addition to the above the team has also completed the following:
- Bugs fixed (minor improvements): 15
- R&D tasks (soon to be announced): 3
- Client requests (at no additional charge): 46