BRD
BUSINESS
REQUIREMENT
DOCUMENT
Domain - BFSI
Comprehensive Lending
Platform
Think2Change
Tejas Bhale
Business Requirements Document (BRD)
Project: Comprehensive LendingPlatform(Origination,Underwriting,Collections)
Domain: BFSI – Loans
Client:
Prepared by: [Your Name]
Date: July20, 2025
Version: 1.0
1. Document Control
Date Version Author Change
Description
20-Jul-25 1.0 [Your Name] Initial draft
2. Table of Contents
1. Document Control
2. Table of Contents
3. Introduction
○ 3.1 Purpose
○ 3.2 Background
○ 3.3 Definitions & Acronyms
4. Business Objectives & Goals
5. Scope
○ 5.1 In-Scope
○ 5.2 Out-of-Scope
6. Stakeholders
7. Current State Analysis
8. Business Requirements
○ 8.1 Loan Origination
○ 8.2 Underwriting
○ 8.3 Collections
○ 8.4 Student Loans
○ 8.5 Home Loans & Mortgages
○ 8.6 High‑Value Loans
9.Functional Requirements (High-Level)
10.Non-Functional Requirements
11.Regulatory & Compliance Considerations
12.Assumptions & Constraints
13.Risks & Mitigations
14.Glossary
15.Appendices
3. Introduction
3.1 Purpose
This Business Requirements Document (BRD) captures the detailed business requirements for
designing and implementing a comprehensive lending platform covering loan origination,
underwriting, collections, and specialized products such as student loans, home loans,
mortgages, and high‑value (big amount) loans. It serves as the authoritative reference for
stakeholders, developers, and vendors.
3.2 Background
The bank currently operates disparate legacy systems for various loan products, leading to
inefficiencies, data silos, and manual interventions. The new platform aims to streamline
end‑to‑end lending processes, reduce turnaround times, ensure regulatory compliance, and
improve customer experience.
3.3 Definitions & Acronyms
● LOS: Loan Origination System
● KYC: Know Your Customer
● LTV: Loan-to-Value Ratio
● NPA: Non-Performing Asset
● UI: User Interface
● API: Application Programming Interface
4. Business Objectives & Goals
1. Reduce Loan Processing Time: Automate workflows to cut origination-to-disbursement
cycle from X days to Y days.
2. EnhanceUnderwriting Accuracy : Incorporate credit-scoring engines and analytics for
risk-based decisioning.
3. Improve Collections Efficiency: Implement proactive notifications, digital repayment
channels, and automated delinquency workflows.
4. OfferSeamlessCustomer Experience: Provide a unified portal for all loan types with
self-service capabilities.
5. Ensure Regulatory Compliance: Adhere to RBI/SEBI guidelines, Basel III norms, and
relevant consumer protection laws.
5. Scope
5.1 In-Scope
● Design and implementation of LOS modules for origination, KYC/AML checks, and
document management
● Automated underwriting engine with configurable business rules and credit-scoring
models
● Collections module with EMI scheduling, reminders, and delinquency management
● Product-specific workflows for:
○ Student Loans (education expense verification, co-borrower processing)
○ Home Loans & Mortgages (property valuation, LTV calculation)
○ High-Value Loans (enhanced due diligence, tiered approval levels)
● Integration with core banking, credit bureaus, payment gateways, and notification
services
● Role-based access control (applicants, loan officers, underwriters, collection agents)
5.2 Out-of-Scope
● Deposit/savings account management
● Third-party broker portals (beyond APIs)
● Legacy system data migration beyond master customer records
6. Stakeholders
Role Name/Department Responsibility
Business Sponsor [CRO / Head of Lending] Overall project oversight & funding
approval
Product Owner [Name] Requirements prioritization & acceptance
BA Team Business Analysis Requirements elicitation &
documentation
Define credit rules & risk parameters
Underwriting Team Credit & Risk Management
Define delinquency workflows & KPIs
Collections Team Collections Department
Solution design & implementation
IT Development Software Engineering
Regulatory requirements & audits
Compliance & Legal & Compliance Office
Legal
Operations
Branch & Contact Centre Day-to-day process execution
Ops
7. Current State Analysis
A summary of existing systems, process flow diagrams, pain points, manual handoffs, and
performance metrics (e.g., average processing times, default rates).
8. Business Requirements
8.1 Loan Origination
● BR-LO-001: The system shall provide a unified applicant portal for submitting loan
applications across all product types.
● BR-LO-002: The system shall perform KYC & AML checks via integration with third-party
verification services.
● BR-LO-003: The system shall enable document upload (ID proof, income proof, property
papers) with auto-validation of file types and sizes.
8.2 Underwriting
● BR-UW-001: The system shall calculate credit scores based on bureau data and internal
scoring models.
● BR-UW-002: The system shall support configurable rules for debt-to-income, LTV ratio,
and co-borrower eligibility.
● BR-UW-003: The system shall route applications above defined thresholds to senior
underwriters for manual review.
8.3 Collections
● BR-CL-001: The system shall schedule EMIs automatically based on loan terms and
generate repayment schedules.
● BR-CL-002: The system shall send automated reminders (SMS, email) X days before
payment due date.
● BR-CL-003: The system shall flag delinquencies and escalate to collection agents per
defined SLAs.
8.4 Student Loans
● BR-ST-001: The system shall verify educational institution accreditation via API.
● BR-ST-002: The system shall support co-signer onboarding workflows.
8.5 Home Loans & Mortgages
● BR-HL-001: The system shall integrate with property valuation services to fetch market
value.
● BR-HL-002: The system shall compute LTV and enforce maximum lending percentage.
8.6 High‑Value Loans
● BR-HV-001: The system shall require multi‑level approval for loans exceeding INR
[Threshold Amount].
● BR-HV-002: The system shall perform enhanced due diligence (EDD) including PEP
screening and source-of-funds analysis.
9. Functional Requirements (High-Level)
A mapping of business requirements to high-level functional capabilities, UI screens, APIs,
reports, and dashboards.
10. Non-Functional Requirements
● Performance: Support 1,000 concurrent users, average response time < 2 seconds
● Scalability: Horizontal scaling to handle 2× transaction growth
● Security: Data encryption at rest & in transit, role-based access controls, audit logs
● Availability: 99.9% uptime, DR site with RTO < 2 hours
11. Regulatory & Compliance Considerations
● Compliance with RBI guidelines for lending
● Adherence to Data Privacy laws (e.g., GDPR for EU-based customers)
● Audit trails for KYC/AML and credit decisions
12. Assumptions & Constraints
● Assumes third‑party services (credit bureau, valuation) have public APIs
● Constraint: Legacy core banking system supports only batch updates
13. Risks & Mitigations
● Risk: Delay in API delivery from credit bureau → Mitigation: Build mock services for
early testing
● Risk: Regulatory changes mid‑project → Mitigation: Allocate buffer in project timeline
for compliance updates
14. Glossary
Acomprehensive list of terms and acronyms used in this document.
15. Appendices
● A: Process Flow Diagrams (Origination, Underwriting, Collections)
● B: Stakeholder Interview Summaries
● C: Data Dictionary
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