Description of Salesforce:
It is an American cloud-based software company.The main purpose of this CRM tool is to sustain the relationship between an organization with its customers once the product is delivered to customers. Over the time, along with providing CRM services, Salesforce started to offer cloud storage as well. Basically its a motive to track the process of taking loan from someone and returning it back with the help of system.
What is Lending and Finance domain ?
Finance, or rather funding has been a vital part since the beginning of time. Earlier it was through indigenous lenders, funding has played a major role in each and every
part of the world. This is also the reason why, lending and financing have been
domains that have evolved and grown rapidly over the years and metamorphosed
into more effective and creative forms and with the help of fintech, the lending
sector has been growing at an exponential rate. With the likes of mobile money
lenders, P2P platforms, marketplace platforms, and online lenders, consumers
today have faster and better access to finance and the ability to live more
comfortably.The thought of making the process of financing quick and
easy for end consumers is what has increased the growth of fintech and lending
giants. By continuously understanding is emerging market trends and ways in which end consumers
can have easy access to finance while protecting lender’s interest in fin-tech has been able to keep satisfying the financing requirements
of the world at large.
Companies which are working On SalesForce CRM:
lending companies – Lending Point, EbixCash, Capital One, American Express login, Amazon etc
commerce – Paytm, snapdeal, flipkart etc
Travel sites – Goibibo, make my trip etc
Real Estate – Lodha Group, Brigade group, KRaheja etc
Manufacturing – Ashirwad Pipes
Some Random names which I recollected are – Bajaj Finserv, Practo, Babajobs etc
lending companies – Lending Point, EbixCash, Capital One, American Express login, Amazon etc
commerce – Paytm, snapdeal, flipkart etc
Travel sites – Goibibo, make my trip etc
Real Estate – Lodha Group, Brigade group, KRaheja etc
Manufacturing – Ashirwad Pipes
Some Random names which I recollected are – Bajaj Finserv, Practo, Babajobs etc
Overview: Hows Lending Domain Works -
Summary: So basically what is Lending Domain: In every country the basic flow to lend a loan the process is same. The customer or group or company who requires a loan request to big companies for loan, These big companies verify the customer or the company details with whatever resources they have. Once they get a confirmation that this guys or company is valid, then lender starts the funding process and also schedule the money returning scenarios with the interest through the system.
Third parties which help lenders to verify -
So Twilio, Phone Pay, Decision Logic, Idology, Giact, Docu-Sign and S-Docs etc based on BRMS rules.
How to test Lending application:
It depends in business flow that how lender will allow his customer or company will come/enter to its portal (Assuming its a customer), who is entering from 2 two URL's on different websites.
Scenarios:
- First verify all the fields from UI prospective and also understand the values it is showing in API end.
- You also need to understand both the url needs to have a different sources, So while verifying the application it will be easy to track, from which URL it has come to Salesforce and while testing API it needs to be clear.
- All the validation on UI fields should also be on the API end.
- Errors should be handles in API and UI end, So that it will be easy to track what error has been generated for eg: Status code 401(Unauthorized), 302 (redirection error)
- Error logs should also get manage
- Verification through third party needs to be done from API to UI.
- Notifications through an Email/phone number should be correctly done.
- Documents should get signed properly and will get verified throughly.
- Then the request will be count as 'Lead'. A lead is a basic information of customer who wants a loan and send all the basic details about him or his mobile number or business or account number. By these details company will verify that the customer is having all the valid information or in past he has any fraud details with him or in his/her past loan experience his Ficco/Sibel score is validated. If the basic details are correct companies allow it to be opportunity/application.
- So if the business is allowing, so the application gets created when all the API and UI conditions gets passed. So from QA standpoint user need to verify all the condition too for eg: whether all the API's has been executed properly or not. Whether from UI if the specific action has been clicked or not ?
- All the api shall be executed whenever the related UI action has been performed or not ?
- All the validation shall be passed from UI and API, in case of any error it should be reflect on same.
- On UI and API all fields shall gets updated whenever information gets updated and correct status shall get updated.
This application is having a account (There can be multiple accounts but simple in lending business it will be easy to manage if there will be single account but there can be possibility that there will be more then 1 account for any application which can be 'Primary' and 'Secondary') where this account will have basic detail or customer or company and then this account will also have contacts in it. So basically these contacts are the user whom we can contact if required. It can be a single user or can be more then one also.
Scenarios:
- So when application gets created, It shall have all the values which are entered either through API or through UI.
- Account and contacts shall get linked through it and in case of any update in application, if the value needs to updated to Account or contact it needs to get updated and vice a versa.
How application is driving:
So initially when the customer has requested that he wants loan through any source/Medium - So that request will move to portal and at that time the status of that can be anything as per terminologies but we can say its in Data Entry stage where, we know a request for loan has come to our portal and we have to put all his mandatory information into our portal, In some companies they validate the phone numbers in these stages too through any API or through an medium. So if some of information is still missing but mandatory info has been entered, we can move this loan application ahead to next stage.
Sizing Calculator stage: So now we can move it to Calc status where we will calculate its salary or earnings. So what can be the offer options, So based on his earning and salaries or Sibel/FICO we will calculate Application offer options.
OfferOut: So Once offer has been selected that i want this X amount of loan and i will return the money in these years with this interest. Once that is selected then the next thing is to validate the bank account details.
Bank Verification stage: Once Bank Account has been verified based on Sibel/FICO the we move to next stage and to update how to take the money back in Installments or what will be Interest or what will be penalty amount if he missed any transactions.
Doc reviewed stage: There can be statuses where in case any document is missing, he can upload that from there. So there can be status where all the documents gets signed. whether they are correct or not.
Final Review: These can be a status where whole application is reviewed before confirming that we have your application and we are processing it.
Funding Stage: So, Once it gets Funded to customer/company there will be portal for that where he can review its application can track all the related transactions, Paid/Pending through which payment gateway. At this time application status will be Funding Customer will able to get emails regarding the whole transactions progress.
Collection stage: In case of any transaction payments gets missed, Ideal scenario says customer should receive notification in any form that his transaction has been missed please pay.
In case he is still not paying we can send him another email or notification, may be there will be some problem and because of that he will not able to pay that. So team will try to figure out that by calling or by self visit.
If still he is not responding, first the penalty on the returning transactions will happen and after that he will get notify regarding the same also.
Legal:
There is also another option whether we can mark this application as Legal that this customer is not paying the returning amount and due to rules it has to be taken to legal assistance.
Now when all the payment transactions gets return we will mark this as Close application and now if wants another loan then there will be option of Pre-approved application. So now there will not be any verification required again for this customer/company because it has been already done but there can be conditions like if there is time gap between 1st loan closing to new Loan request of 3-6 months, then we need the verification again because might be chance that FICO/SIBEL has been updated in between(Can be dependent on business model).
Note: There can be any terminologies for these stages and there can be N number of stages but the basic understanding of Lending project is this only.
Summary: So basically what is Lending Domain: In every country the basic flow to lend a loan the process is same. The customer or group or company who requires a loan request to big companies for loan, These big companies verify the customer or the company details with whatever resources they have. Once they get a confirmation that this guys or company is valid, then lender starts the funding process and also schedule the money returning scenarios with the interest through the system.
Third parties which help lenders to verify -
So Twilio, Phone Pay, Decision Logic, Idology, Giact, Docu-Sign and S-Docs etc based on BRMS rules.
How to test Lending application:
It depends in business flow that how lender will allow his customer or company will come/enter to its portal (Assuming its a customer), who is entering from 2 two URL's on different websites.
Scenarios:
- First verify all the fields from UI prospective and also understand the values it is showing in API end.
- You also need to understand both the url needs to have a different sources, So while verifying the application it will be easy to track, from which URL it has come to Salesforce and while testing API it needs to be clear.
- All the validation on UI fields should also be on the API end.
- Errors should be handles in API and UI end, So that it will be easy to track what error has been generated for eg: Status code 401(Unauthorized), 302 (redirection error)
- Error logs should also get manage
- Verification through third party needs to be done from API to UI.
- Notifications through an Email/phone number should be correctly done.
- Documents should get signed properly and will get verified throughly.
- Then the request will be count as 'Lead'. A lead is a basic information of customer who wants a loan and send all the basic details about him or his mobile number or business or account number. By these details company will verify that the customer is having all the valid information or in past he has any fraud details with him or in his/her past loan experience his Ficco/Sibel score is validated. If the basic details are correct companies allow it to be opportunity/application.
- So if the business is allowing, so the application gets created when all the API and UI conditions gets passed. So from QA standpoint user need to verify all the condition too for eg: whether all the API's has been executed properly or not. Whether from UI if the specific action has been clicked or not ?
- All the api shall be executed whenever the related UI action has been performed or not ?
- All the validation shall be passed from UI and API, in case of any error it should be reflect on same.
- On UI and API all fields shall gets updated whenever information gets updated and correct status shall get updated.
This application is having a account (There can be multiple accounts but simple in lending business it will be easy to manage if there will be single account but there can be possibility that there will be more then 1 account for any application which can be 'Primary' and 'Secondary') where this account will have basic detail or customer or company and then this account will also have contacts in it. So basically these contacts are the user whom we can contact if required. It can be a single user or can be more then one also.
Scenarios:
- So when application gets created, It shall have all the values which are entered either through API or through UI.
- Account and contacts shall get linked through it and in case of any update in application, if the value needs to updated to Account or contact it needs to get updated and vice a versa.
How application is driving:
So initially when the customer has requested that he wants loan through any source/Medium - So that request will move to portal and at that time the status of that can be anything as per terminologies but we can say its in Data Entry stage where, we know a request for loan has come to our portal and we have to put all his mandatory information into our portal, In some companies they validate the phone numbers in these stages too through any API or through an medium. So if some of information is still missing but mandatory info has been entered, we can move this loan application ahead to next stage.
Sizing Calculator stage: So now we can move it to Calc status where we will calculate its salary or earnings. So what can be the offer options, So based on his earning and salaries or Sibel/FICO we will calculate Application offer options.
OfferOut: So Once offer has been selected that i want this X amount of loan and i will return the money in these years with this interest. Once that is selected then the next thing is to validate the bank account details.
Bank Verification stage: Once Bank Account has been verified based on Sibel/FICO the we move to next stage and to update how to take the money back in Installments or what will be Interest or what will be penalty amount if he missed any transactions.
Doc reviewed stage: There can be statuses where in case any document is missing, he can upload that from there. So there can be status where all the documents gets signed. whether they are correct or not.
Final Review: These can be a status where whole application is reviewed before confirming that we have your application and we are processing it.
Funding Stage: So, Once it gets Funded to customer/company there will be portal for that where he can review its application can track all the related transactions, Paid/Pending through which payment gateway. At this time application status will be Funding Customer will able to get emails regarding the whole transactions progress.
Collection stage: In case of any transaction payments gets missed, Ideal scenario says customer should receive notification in any form that his transaction has been missed please pay.
In case he is still not paying we can send him another email or notification, may be there will be some problem and because of that he will not able to pay that. So team will try to figure out that by calling or by self visit.
If still he is not responding, first the penalty on the returning transactions will happen and after that he will get notify regarding the same also.
Legal:
There is also another option whether we can mark this application as Legal that this customer is not paying the returning amount and due to rules it has to be taken to legal assistance.
Now when all the payment transactions gets return we will mark this as Close application and now if wants another loan then there will be option of Pre-approved application. So now there will not be any verification required again for this customer/company because it has been already done but there can be conditions like if there is time gap between 1st loan closing to new Loan request of 3-6 months, then we need the verification again because might be chance that FICO/SIBEL has been updated in between(Can be dependent on business model).
Note: There can be any terminologies for these stages and there can be N number of stages but the basic understanding of Lending project is this only.
