The challenge
A consumer credit-card application and a business credit-card application may end with the same plastic card, but the work required to approve them is very different.
Consumer applications needed credit review, budgeting, conditions and customer communications. Business applications required entity documentation, authorized signer information, beneficial ownership and other business-specific verification. The lender also wanted a path to offer a secured card when an applicant was not approved for the primary unsecured product. All of this had to remain manageable for the same lending team.
What LAUNCHER built
LAUNCHER configured appTRAKER to accept both consumer and business applications through myLOAN and route them through lender-defined processing and underwriting rules.
Applications can run through bureau processing, budget creation, conditions, stipulations and decisioning before reaching verification. The underwriting workspace was tailored to the credit-card program, including requested credit limits and lender-defined pricing or decision information.
Business applications follow their own documentation path, including entity and signer requirements. Consumer, business and secured-card programs each have their own verification checklists and tasks, so staff see the work that applies to the application in front of them rather than a generic checklist.
The workflow also supports a secured-card alternative. When an applicant is not approved for the primary unsecured card, the lender can perform an internal assessment for a secured-card preapproval and communicate that offer to the applicant. Credit-card forms are mapped for automatic data merge, and customer notifications are generated at defined points in the process.
The result
The bank can run consumer, business and secured credit-card origination within one configurable platform while preserving the differences that matter between the programs.
The implementation gives staff a common application record, common workflow controls and a consistent place for documents, tasks and decisions, without pretending that every credit-card applicant should be processed the same way.
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