Commission management solutions

Manage commissions effortlessly with a solution designed for lenders, by a lender

Commissions processing software - the right technology

The Loanworks Enterprise Commission Solution is available as a Software as a Service (SaaS) model in the cloud (Microsoft Azure) or an on-premises (hosted) model - whatever you prefer. Both models perform the following tasks:

Data import, validation and
exception reporting

Our software has the ability to import data files and fully integrate with your core banking platform. The validation function possesses a suite of data quality rules and provides seamless exception handling (e.g. lender data mismatch).

Commission payment models

The Loanworks system supports various out-of-the-box commission payment models, including upfront, trail, clawback, fees, non mortgages (insurance, personal loan payments), utilisation clawback, sundry, and manual adjustments. We also support offset account balance and drawn-down balance rules.

Invoicing, accounting export

We automatically generate and distribute customised RCTI invoices and commission statements (per channel) via e-mail or your specific portal. We can also export standard ABA files and GL accounting files (Sun, Technology 1, MYOB, Oracle).

Reporting suite

Out-of-the-box reporting suites are used to validate bank payments against commission payments (receivable vs payable), batch exceptions, proposed payments, trail variance, and paid commissions. Your reports are then tailored according to your needs using our SQL reporting engine.

Commissions processing service - the right people

The Loanworks Commissions as a Service (CaaS) solution delivers a holistic business process to support you in delivering commission-based remuneration to internal and external channels. That means we cover all the bases.

What can you expect from our people? A lot.

Our holistic solution encompasses:

  • broker onboarding
  • channel administration
  • third-party payment reconciliation
  • data manipulation & validation
  • commission payment processing
  • payment validation & approval
  • invoice distribution
  • direct payment processing
  • general ledger integration
  • and payment query support & correction

A tailored solution

Our people will configure the solution to support your unique payment types, payment rules, data models, channel hierarchies, payment frequencies, accounting structures, internal processes and core systems.

Industry experience

You’ll be backed by a team of technology and processing professionals with many years experience in commission processing and channel administration.

Maintain business critical service levels

The services solution encompasses the software solution, so you get the combined effect of our best-of-breed software system and business processing service to support your business-critical service levels.

Powerful, secure and simple

Our platform delivers an unprecedented level of processing power, payment modelling and systems integration, and is hosted within a certified, secure, managed SaaS environment located in Australia. A web-based interface gives you easy access to review, approve and report in real-time.

Full visibility and control

Our processing service links with your finance department to provide full insight into reconciliation, disbursements and financial commitments, giving you control and visibility over the entire life-cycle of a transaction.

Streamline and manage change

Loanworks will work with your business to structure a streamlined reconciliation, payment and invoicing process. We’ll design, plan, build and implement a future state process, document the changes, and support your organisational change management.

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Start processing your commissions more efficiently

Commissions processing doesn’t have to be time-consuming, involved, convoluted, and susceptible to error. The Loanworks Enterprise Commissions solution has all your bases covered. To learn more about how we can help, please call Urvesh Vibhakar, our Solutions Delivery Manager on +61 433 186 482. Urvesh will work with you to see how our solutions can address your particular needs.