MuleSoft Accelerator for Financial Services
Use case 2a - Customer onboarding - Banking
Customer onboarding with loan origination creates an easy and straightforward onboarding experience. By empowering consumers to apply for a loan via a digital channel, review and accept the loan agreement, and then be added as a customer of the bank in seamless, regulatory-compliant steps.
Overview
- Description
- Solution overview
- Objectives
- Use case considerations
- Technical consideratons and constraints
- Business requirements
- Solution design summary
- High-level architecture
- Processing views
- Systems involved
Client onboarding with loan origination
See also
Description
This use case leverages a generic Core Banking system, with Salesforce Financial Services Cloud as the system of engagement and DocuSign as the document management system. The APIs and templates enable you to accelerate time to value. Use the assets as they are, or extend them to suit the needs of your own organization.
Glossary
| Term | Definition |
|---|---|
| CIM | The Cloud Information Model for MuleSoft Accelerators defines a set of standard data structures that can be used as canonical representations of common entities for integrating systems. |
| FINS | Abbreviated term referring to the Financial and Insurance industries, consisting of the Banking, Insurance, and Wealth Management domains. |
| Global Data | A Global Data service provides an accurate, consistent, and complete copy of business data for use by enterprise applications and business partners while also providing a means to link that copy to occurrences in other systems. |
Solution overview
The primary use case for this solution is to onboard a new client through a loan application process. The creation of the initial marketing campaign described by the functional use case is outside the scope of this solution.
Before you begin
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The Getting Started with MuleSoft Accelerators guide provides general information on getting started with the accelerator components. This includes instructions on setting up your local workstation for configuring and deploying the applications. |
Objectives
- Support the receipt and processing of a new loan application
- Support the submission of loan documents and receipt of electronic signatures
- Create a new customer and loan account in the target financial system
- Provide a means for customers to view their customer and loan account details
Use case considerations
- Must support loan application submission and processing workflow
- Must support customer and account synchronization to a system of record
- Must support the generation of loan agreement documents and capture receipt of signatures from individuals
Technical considerations and constraints
The following lists the technical considerations for this solution design:
- Use CIM as the canonical model, where applicable (e.g., for Customers)
- The canonical model for banking accounts will include loan applications
- The following applications will be leveraged for this solution: Salesforce Financial Services Cloud (FSC), Loan Origination System (generic), DocuSign, and Global Data (generic)
The following lists the technical constraints for this solution design:
- The Loan Origination System (LOS) is simulated using a generic database
- The generic Credit Bureau System API returns a random credit score
Business requirements
The following summarizes the business requirements as it pertains to the solution design:
- The loan application submission will be captured via the Mobile interface and recorded in a generic Loan Origination System (LOS)
- The personal information given on the application will be used to create/update a customer entry in both FSC and Global Data
- A loan agreement document will be generated based on the content of the loan application and associated with the application in the LOS
- The agreement document must be submitted to DocuSign in order to obtain the individual's signature, indicating that they agree to the terms and conditions
- Upon receiving confirmation that the document has been signed, the customer must be updated in FSC and a new Loan Account created for them
Solution design summary
The implementation of this use case builds upon the Unlock any core use case and adds the following capabilities:
- Full customer sync between Core Banking, LOS, FSC, and Global Data
- Support for a generic Loan Origination System, using MariaDB for data storage
- Integration with DocuSign, both for submitting documents and receiving events
- Additional endpoints for the Mobile Experience API to support the retrieval and submission of loan applications
To support testing and demo activities, the Mobile Experience API provides a method to obtain a simple loan application form, which can be filled out and submitted to begin the process. For this release, a random credit score is calculated and the approve/deny decision is made based upon a configurable score threshold.
High-level architecture
The following diagram represents the use case portion of the overall solution:
The Core Banking integration is unchanged for this use case and is therefore not shown.
Processing views
The following activity diagram shows the loan application submission process, which ends with the loan agreement document being submitted to DocuSign to send to the customer for signing:
Upon receiving notification from DocuSign that the customer has signed the agreement, the process is completed with the creation of a corresponding loan account in FSC (via the Bank Accounts Process API):
Systems involved
- Core Banking System (generic, not shown)
- DocuSign
- Loan Origination System (generic)
- Global Data (generic)
- Salesforce Financial Services Cloud (FSC)
Client onboarding with loan origination
Goal
- Receive a new loan application
- Process the loan application through to final acceptance (signed document)
- Create a new customer and loan account for servicing
Main success scenario
- Customer submits a new loan application via their mobile device
- The customer information is captured in Core Banking, LOS, FSC, and Global Data
- The loan application is processed according to a predefined workflow
- An agreement document is generated and sent to the client for signature via DocuSign
- Upon acceptance (document signed), the customer is activated in Core Banking, LOS, FSC, and Global Data
- A new loan account is created in FSC and Global Data
Use case extension
- Terms are rejected by the customer
- Loan application is marked as rejected, no customer or account created
Downloadable assets
FINS System APIs
- Credit Bureau System API | API Specification | Implementation Template
- DocuSign System API | API Specification | Implementation Template
- Loan Origination System API | API Specification | Implementation Template
- Salesforce Financial System API | API Specification | Implementation Template
FINS Process APIs
- Bank Accounts Process API | API Specification | Implementation Template
- Bank Loans Process API | API Specification | Implementation Template
FINS Experience APIs
- DocuSign Experience API | API Specification | Implementation Template
- Mobile Experience API | API Specification | Implementation Template
Custom components
- Cloud Information Model for MuleSoft Accelerators
- Accelerator Common Core | Source
- Accelerator POM Parent | Source
- FINS Common Resources | Source
- ID Graph Lightning Web Component | Source
Shared APIs (can be used across any use case)
- Accelerator Global Financial Account Process API | API Specification | Implementation Template
- Accelerator Global Party Process API | API Specification | Implementation Template
- Accelerator Customers Process API | API Specification | Implementation Template
- Accelerator MariaDB Global Financial Account System API | API Specification | Implementation Template
- Accelerator MariaDB Global Party System API | API Specification | Implementation Template
- Accelerator Salesforce Customers System API | API Specification | Implementation Template