Introduction
Making informed lending decisions is crucial, and our enhanced loan request review process offers greater flexibility. With the new loan product setting, you can decide whether risk and verification checks must be strictly enforced or if they can be overridden with justification. This allows for a smoother approval process while maintaining compliance.
By default, loans that fail risk criteria or are pending verification cannot proceed unless all conditions are met. However, you can override these checks by following the steps below.
Steps to Override Risk and Verification Checks
2. Click on "Loan products" under "Product Management" from the side navigation bar.
3. Create a new loan product or click on an existing one.
4. Click on the "Products Attributes" tab in the loan products page.
5. Scroll down to the attribute "Enforce Risk and Verification Checks" and click the more options icon button.
6. Click on "Edit"
7. Uncheck the box beside Enforce Risk and Verification Checks to override checks for the requests on that product
8. Click on Save
9. Click on Confirm and Finish.
What Happens Next?
Loan requests that do not meet the required criteria can still be approved if the override setting is enabled.
The system will prompt you to enter a justification before proceeding.
By enabling this feature, you gain more control over the loan approval process, balancing flexibility with risk management.