Neti automated counterparty review for Element Leasing

2020: Automation of counterparty verification

On February 24, 2021, Neti announced the automation of counterparty verification for the Element Leasing leasing company.

Task

The customer's employees daily conclude leasing agreements with new companies and individuals, as well as provide new services to existing customers. Given the dynamic growth of the company and the expansion of the customer base, financial and reputational risks arise when concluding unverified transactions. Therefore, the need to verify the reliability of each lessee is growing every day, and global and local instability in the economy requires a constant check of the sustainability of the lessee's business. The adoption in 2020 of amendments to Federal Law 115-FZ also obliges leasing companies to check counterparties before concluding a leasing agreement.

Previously, Element Leasing used manual means of checking counterparties: employees simply entered the data of legal entities, company executives, business owners and other beneficiaries into the web form on the Contour.Prism service website. After that, managers independently entered the obtained data into the system. This method of work took a lot of time, and also left a great risk of errors associated with the human factor.

Decision

Support for the business processes of Element Leasing is implemented on the basis of the Microsoft Dynamics AX 2009 information system, which automates document flow, personnel management, as well as financial processes of the company. Therefore, management decided to integrate the means of checking counterparties into the already working automation environment.

The project took place in the summer of 2020 during severe quarantine restrictions, and it was important to the customer that all processes be implemented remotely. Therefore, the project required an executor with experience in remote organization of business processes.

To solve integration problems, Neti was chosen, whose employees began working remotely even before the pandemic began, and also have extensive experience in embedding additional components and custom development for Microsoft Dynamics. During the project, the developers studied the features of supporting the process of maintaining leasing contracts and built the possibility of accessing the Contour.Prism system for certain customer business processes automated in the Microsoft Dynamics AX 2009 system.

Our specialists have implemented the ability to send requests and receive answers from the service'Contour.Prism 'in Microsoft Dynamics AX 2009. As a result, automatic verification of counterparties and beneficiaries occurs each time the contract is concluded. Moreover, additional checks can be assigned in any event, for example, in the case of a change in data in the card or as part of a periodic assessment of the reliability of leasing recipients. The appeal to Kontur.Prism has actually become the standard functionality of the customer's information system, "said Maxim Ivliev, Neti project manager.

Implementation of the project

Developed on the basis of the JSON.Net library, the solution consists of several blocks. When a predefined event occurs, one component creates a preliminary JSON request for submission to the Loop Prism system. Requests are queued and another block sends raw requests to the Loop Prism at a given frequency. The external system returns the response again in JSON format. The third block parses the response by tags and stores it in a query binding. New information is added to the corresponding directory of the counterparty with the preservation of the request date, as well as marks whether the legal entity or individual is included in one of the lists of the "Contour.Prism" system - debtors, violators, terrorists, foreign agents and so on.

Features of the project

When integrating different information systems, it is necessary to ensure the harmonization of their working methods, interfaces and data formats. The project at Element Leasing LLC included programming a functional block for interacting with the Contour.Prism system, adding new fields to counterparty directories, as well as setting up rules and triggers in the customer's information system.

The system was configured so that when a response is received in Microsoft Dynamics AX 2009, decryption is performed, binding to the outgoing request, as well as entering information into the corresponding directory. Due to this, for each counterparty "Element Leasing" the date of the last request is stored in "Contour.Prism," as well as the sign of the counterparty entering any special list. For the identified counterparties and individuals included in the list from registration system was set up to send email to the responsible employees of the enterprise, indicating at what stage of the business process an entry in the list was found.

Neti has created a universal interface for MS Dynamics AX 2009, installed on the client side, which allows you to exchange data in JSON format. This modification of the system provides not only the ability to send requests to Contour.Prism, but also allows you to further connect any other services and information systems that the customer may need to further digitalize his business.

Project results

Developed by Neti, the additional functionality of Microsoft Dynamics AX 2009 allows you to repeatedly reduce employee time for the necessary verification of counterparties before entering into a transaction, as well as guarantee 100% accuracy of detection of unreliable leasing recipients.

The functionality implemented by Neti specialists ensures compliance with the requirements of the law and guarantees a reduction in risks associated with insufficient study of potential or existing leasing recipients, "said Andrei Matveev, Head of the Information Systems Development Department of Element Leasing LLC. - In addition, we received a significant increase in the productivity of our specialists, who previously spent a significant part of their working time manually entering and interpreting requests in Kontur.Prism.