Apollo Infinity - New Features - August 2021

Author: Kiel
Tuesday, August 31 2021

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 August.

A new way of delivering news

So you get the latest information about changes to the Apollo platform, we have introduced the "News" widget in-app. We will still produce these periodic catch-up articles but we would like to direct you to the "News" tab in Launchpad where items will be published as soon as they are released.

This will also publish to our twitter feed at https://twitter.com/Apollo_Infinity if you don't use Launchpad regularly.

New Payee Request + Workstream

APL-836 A new workstream that automatically collects, checks and imports 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. We will be working with our partners over the coming weeks/months to migrate these checks from TaskStack to Launchpad in line with our plan to centralise all functions into Launchpad.

User management in Launchpad

APL-1347 It's been a long time in the making and we're sorry that it has taken so long to deliver this but in-house user management is now available in Launchpad. Previously you had to request new users or user amendments via the helpdesk, this new feature will allow you to register new users in-house immediately. Don't forget you can also control who can access what workstreams in the workstream settings!

Interest Only Loan Calculator

APC-5015 A new loan type is now available in Launchpad, the "Interest Only" calculator can be used to set the repayment to be only the interest, until the end of the loan where the full capital amount will be required. While we expect this to be used in specialist circumstances, it is now available if you want to consider broadening your loan offerings.

OpenBanking Accountholder Name

APC-4908 Now when new OpenBanking connections are made, the account holder name will be displayed alongside the sort-code and account number, a small addition but hopefully gives you more visibility on that account holder matches the loan applicant.

On Refresh the Queue Reverts to "All"

APL-1631 There was a pesky bug that has been difficult to squash which meant the queue you were in would have been forgotten and you might have been placed back into the 'All' queue when returning to the queue listings. This has now been addressed.

New interface for editing loan applications

APL-1604 Following feedback from our partners we have overhauled the loan interface system so it is easier to make changes to loan parameters and see the calculations update in real-time, this takes the guesswork out of loans. APR, total interest and total repayable are updated immediately.

With selected backoffice support 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.

You can continue editing your loan parameters in the classic way for the time being. We will be working with our partners to switch this on for everybody.

Show CIFAS Alerts in the CRA Summary

APL-1638 The summary view for AML checks using TransUnion CallValidate now displays CIFAS alerts if you are registered with CIFAS. CIFAS is a fraud prevention community (more information is available here: https://www.cifas.org.uk). It does have additional costs, however we typically see ~5% of loan applications flagged by CIFAS for one reason or another, so it might be worth investigating this as an option. You can then click through to see the records which indicate what type of fraud has been registered against that individual or address and make your own judgement.

In addition to the above the team has also completed the following:

  • Bugs fixed (minor improvements): 32
  • R&D tasks (soon to be announced): 22
  • Client requests (at no additional charge): 62
Apollo Infinity - New Features - July 2021