Skip to content

Process a first application

This quickstart follows one lending request from borrower selection to an issued application and active loan. The available processing actions depend on the product, application status, configured decisions, and your permissions.

For
Origination users learning the complete application path.
Requires
Access to create and process applications, a borrower, and a configured lending product that is selectable from New Application.
Available when
Your role can create a new loan application and use the processing action required for your part of the workflow.
Before you begin
Prepare the borrower details, requested terms, supporting information, and any organisation-specific review evidence.
Expected result
The application is Issued and linked to an Active loan, or is handed off at the approved state required by your organisation.
Quickstart point This run
Estimated time About 20 minutes, excluding external checks and organisation-specific approvals.
Starting state The configured lending product is selectable and the correct borrower can be found or created.
Finish state An issued application and its linked active loan. Stop at the required hand-off state when lending is separated from approval.

Workflow

Find or create the borrower

Search for the person or organisation before creating a record. Compare the available identifiers and contact details so that the application is not attached to a duplicate borrower.

If no correct record exists, create it and complete the fields required by your organisation. See Find and create people and Person records.

Create and calculate the application

  1. Open Workspace → New Application.
  2. Choose the intended lending product.
  3. Select the borrower.
  4. Enter the application and submitter information required by the product.
  5. Enter the amount, currency, rate, term or number of payments, dates, and other product-specific required inputs.
  6. Wait for Finsaku to update the calculated summary and payment schedule, then review them.
  7. Select Save if the application needs more work, or select the available processing action when it is ready to proceed.
New Vehicle Finance Application page showing calculated terms and required application fields
A new application combines the calculated lending summary with the borrower, dates, and product-specific information that must be checked before processing.

Finsaku recalculates automatically after a relevant financial input changes. Wait for the updated figures before processing the application, then confirm the first and final instalments, total cost, payment dates, and any product-specific charges. Terms and calculation explains the inputs and results.

Review and process the application

Review the borrower, terms, documents, product information, enrichment results, decisions, and unresolved notes. Follow the actions shown on the application. A common path is Submit, Approve, then Lend, but configured workflows can omit a state or add a clarification or investigation step.

Approving records the lending decision. It does not create a loan. Lend changes the application to Issued and creates the linked loan and contract in the current tenant. After Lend, open the linked loan and confirm its Active status, borrower, product, agreed terms, and schedule. If another role performs lending, stop at the approved hand-off state and do not try to bypass the separation of duties.

See Review and processing for the available actions and alternate outcomes.

Troubleshooting

What you see Check
New Application is absent Application permissions and whether a lending product is available in the tenant.
The intended product is absent Product and active product-version dates, availability, and your role's access.
Calculation does not complete Required inputs, conditional product fields, dates, and calculator configuration.
A processing button is absent Application status, exact operation permission, required information, and configured decisions.
Lend returns an uncertain result Check application history and Workspace → Loans before trying again; do not create a second loan for the same application.
The request must not proceed Use the available rejection, expiry, clarification, or investigation path described in Review and processing.