Define the purpose for collecting an applicant’s data in a loan application. Create data
use purpose records to make sure that the applicant’s data is used transparently throughout the
loan origination process.
Required Editions
Available in: Lightning Experience
Available in: Professional, Enterprise, and Unlimited
Editions
From the App Launcher, find and select Data Use Purposes.
Click New, and enter the data use purpose details.
Enter a name for the data use purpose record for the home loan product.
For
example, Consent for Information Verification for Home
Loan.
Save your changes.
Similarly, create a data use purpose record for the other loan products that you offer to
your applicants.
For
example, if you offer a personal loan, auto loan two wheeler, and auto loan four wheeler, then
create a data use purpose record for each loan products.
If you’re creating multiple data use purpose records, make sure that the name of each data use
purpose record is unique.
We use three kinds of cookies on our websites: required, functional, and advertising. You can choose whether functional and advertising cookies apply. Click on the different cookie categories to find out more about each category and to change the default settings.
Privacy Statement
Required Cookies
Always Active
Required cookies are necessary for basic website functionality. Some examples include: session cookies needed to transmit the website, authentication cookies, and security cookies.
Functional Cookies
Functional cookies enhance functions, performance, and services on the website. Some examples include: cookies used to analyze site traffic, cookies used for market research, and cookies used to display advertising that is not directed to a particular individual.
Advertising Cookies
Advertising cookies track activity across websites in order to understand a viewer’s interests, and direct them specific marketing. Some examples include: cookies used for remarketing, or interest-based advertising.
