Removing shackles: OpenAFSL Release Notes
Since the last regular release, the Development Team has worked hard to ensure that this update includes as many of your proposed changes as we could accommodate.
Our mission is to free licensees from the burden of compliance and these refinements will not only lessen your burden but give you the tools to turn compliance into a strategic role. This update also includes performance improvements and bug fixes to make our platform better.
The industry associations may be right to condemn the "over-cumbersome focus on compliance” and mourn the specific lack of focus on improving advice quality. But, in our opinion, focusing on compliance is the best way to improve advice quality. The problem is that too few people understand how to achieve both, seemingly incompatible, goals.
Maybe we don't have all the answers, but we can certainly get you closer to these goals.
OpenAFSL allows you to better connect "people, places and parties" and better manage the "most undervalued asset" in your business and this is why we have:
- Improved your capacity to compare and contrast your Reviewers. This enhanced management reporting provides you with a simple and intuitive way to assess the performance of your compliance staff by comparing their outputs, activities and observations.
- Enhanced the Credit Review methodology to better record, and respond to, Product Type and Loan purpose.
- Tweaked the UI to provide you with quick visual indicators of whether a review is draft, finalised or yet to begin.
- Created new Review streams (with distinct workflows and reporting) to enable you to demarcate reviews according to their purpose (ie. exit, remediation or pre-vetting).
- Conscripted rogue AI (or something similar) to validate the accuracy and format of the data you input.
- Redesigned the Licensee-Business-Adviser matrix to make it even easier to add, amend or reallocate records.
- Implemented Milton's preferred colour scheme to maximise appeal and minimise confusion.
- Overhauled the Pre-Vetting reporting to allow for more options and deeper, contextual reporting.
We've also rolled out a host of minor coding changes designed to improve the user experience and we're keen to get your feedback.