BankPoint's August 2020 Release introduces the new loan pipeline workflow engine. The new workflow allows more flexibility in the set up of the pipeline loan life-cycle, enabling banks to customize their own pipeline steps and tasks.
To support the architecture of the new workflow, you will see other related changes in the pipeline area, which we will describe below.
Included in this Article
Loan Pipeline Workflow
For existing BankPoint users, the workflow will function largely the same as the original loan pipeline. The one notable change with the new engine is that support for the voting approval block has been removed. Bank's approval flows and workflow steps were not changed with this release, except for the voting approval block. See further below for additional information.
The workflow bar received an improved look and feel, with different accent colors, including an orange line that indicates the current status of the request.
The "Approver" (or other name used when configuring the approval flow) is now replaced with the words "In Review" above the approval blocks to better show the steps that are part of the approval flow and the fact that the pipeline loan is under review.
If returning a pipeline loan, you can now select which earlier state you would like to return to. Previously this would always transition it all the way back to the prospect stage.
The look and feel of the Submit Review dialog also changed, where you can check the Approved box, instead of selecting the option from a drop-down box.
To learn more about the capabilities of the new workflow, please visit Concept: New Loan Pipeline Workflow
Starting with August 2020 Release, the legacy pipeline voting block control is no longer supported.
If you have been using the Pipeline Voting control then we recommend the following alternatives with the new workflow engine:
- Capture voting information or tallies in the pipeline loan comments section. These can be input individually or summarized by one person based on the results of a committee meeting review.
- Create a workflow approval stage called 'Voting' and assign approval permissions for that role to someone who can query the appropriate people to determine if there are sufficient votes to approve. Once an approval decision is made, then use the standard approval controls to record the approve or decline decision. Optionally, the details of who voted for and against the pipeline loan can be entered in the comments portion of the decision.
- Finally, we do have a custom workflow control which can be enabled which requires that a set number of individuals with a particular role approve an item before it is accepted. For example, at least 2 people with the Voting role would need to mark the loan as being approved before it would advance. If you're interested in having this enabled for your site, please contact support.
To learn more about the capabilities of the new workflow, please visit Concept: New Loan Pipeline Workflow.
Loan Pipeline Status Bar
The status bar at the top of the loan pipeline listing screen also received a new look and feel. It now presents a bar chart that shows the request amounts at each step of the pipeline.
Clicking on one of the status bar stages will filter the loan pipeline to only show items in that stage. An orange underline will appear to show when the list is being filtered.
Loan Summary Screen
The pipeline area of the loan summary screen has been updated to group the pipeline into three groups:
- In Review
Pre-Review shows all the requests that are currently sitting in steps that occur before the approval flow. Likewise, Post-Review includes steps which occur after the request is approved.
The chart-like buckets are filled according to the number of requests in each bucket.
Pipeline Progress by Underwriter Report and Pipeline Progress Report
RPT-PIP-008 Pipeline Progress by Underwriter Report has been merged into the more generic RPT-PIP-006 Pipeline Progress Report.
In turn, RPT-PIP-006 Pipeline Progress Report received a new look and new report options, including additional sort and grouping options. These changes make the report flexible enough to produce the same results as RPT-PIP-008.
RPT-PIP-006 also received enhanced metrics calculation, which now reports information based on the first date the request went into a status.
Other pipeline reports also received a new look to be consistent with other areas of the system.
With the architectural improvements to the workflow, a few user permission changes were included:
- Pipeline Add Loans Post Approval permission has been added to allow users to add loans to a pipeline loan prior to or post approval
- Each step of the new workflow has its own permission that can be assigned to end users. Users will have their workflow permissions automatically assigned with the upgrade
Renamed or removed:
- Pipeline Vote has been removed
- Pipeline_Complete has been replaced with permission Workflow - Complete step
- Pipeline Complete Underwriting has been replaced with Workflow - Underwriting Complete step
- Pipeline Decline Underwriting has been replaced with Workflow - Decline step
In addition, loan pipeline permissions became more refined to work according to the current status of a pipeline loan. In order to be able to return a pipeline loan, users would need permission to the current status of the pipeline loan.
In the example below, the user does not have any approval permission, so they cannot return while it is being approved.
Loan Pipeline Underwriter Role
A new loan pipeline underwriter role is automatically created with the upgrade to indicate users that can be selected to be the underwriter on a pipeline loan.
To add a new user to the underwriter drop-down on the Create/Edit pipeline loan screens, a security administrator can go to Tools > Security, click on the Roles tab and then on the Manage Users link next to it.