In FinView, the term "Originator of Credit" is frequently used. This is a term common in financial and credit industries, and it holds specific meaning within the context of FinView's functionality.
The Originator of Credit refers to the party that initially provides the credit, loan, or finance that is subsequently subject to collections processes. This could be a bank, credit card company, or any other financial institution or business that extends credit to consumers or businesses.
In FinView, the Originator of Credit can be the customer using the platform (e.g., a bank or lending institution) or it could be one of the customer's own clients (i.e., a customer of a customer). This distinction is essential in FinView because it helps organise and categorise the cases for collections, enabling precise tracking and management.
By correctly identifying and recording the Originator of Credit, FinView allows for streamlined, efficient management of cases, facilitating effective collections strategies and practices. It also helps ensure that all relevant parties are properly involved in the collections process, fostering transparency and accountability.
