What Happens After Approval?

When a Lead is approved in Ascent, the submitted application transitions into an active product. This marks the end of the application phase and the beginning of ongoing servicing and account lifecycle management.

Creation of a Product Instance

Approving a Lead creates a product instance inside Ascent. This product holds all of the application data, decisions, and any associated documentation. It becomes the central servicing object tied to the applicant.

The product instance is visible within the member profile, allowing users to manage the full lifecycle of the account, including renewals, servicing actions, document uploads, and external reporting.

Once the product is created, the original lead becomes locked. This prevents further updates or data requests on the original application. However, the lead remains visible and reportable, serving as a historical record of the applicant's journey.

Integration with Downstream Systems

If the financial institution has integrated Ascent with external systems such as a loan origination system (LOS), core banking system, or document storage provider, Ascent can automatically push the approved product data into those systems. This ensures consistency and avoids duplication of effort for staff.

Common integration points include:

• Loan origination system (LOS): Ascent can create or update a loan record in the LOS, including applicant details, approved terms, and collateral if required.

• Core system: For institutions that fund and manage loans directly in their core, Ascent can submit relevant customer, account, and loan information once the product is approved.

• E-signature or document storage: If enabled, Ascent can push completed documents to an integrated e-signature provider or upload final copies to platforms like Box or SharePoint.

Ongoing Monitoring and Lifecycle Tracking

Once the product instance exists in both Ascent and the downstream systems, Ascent can continue to monitor the product's lifecycle in real time if the appropriate integrations are in place.

For example:

• Repayment tracking: Ascent can observe repayments and flag missed payments or changes in balance.

• Renewals and reviews: Annual reviews or covenant checks can be triggered automatically based on dates, third-party data sources such as IRS tax transcripts, or accounting integrations like QuickBooks and Plaid.

• Status changes: If a product is closed, paid off, or refinanced in the core or LOS, Ascent can track these changes and update its internal records accordingly.

This approach allows Ascent to operate in close alignment with existing systems without replacing them. It also ensures that teams across the institution are working from accurate and up-to-date records.

Summary

Approving a lead in Ascent begins a new phase of interaction between the institution and the borrower. The data is elevated into a live product that can be tracked, updated, and monitored over time. If integrations are in place, Ascent becomes a central hub for initiating, managing, and tracking the product lifecycle while keeping external systems in sync.