Final answer:
Collateral management allows stakeholders to add, view, update, and monitor collateral records in real time, ensuring lenders and borrowers maintain an accurate understanding of the collateral's current status.
Step-by-step explanation:
Collateral management involves several capabilities crucial to the lending process. The term collateral refers to something of value—often property or equipment—that a lender has the right to seize and sell if the borrower fails to repay a loan. In the context of the capabilities of Collateral Management, these include the ability to Add Collateral, which is the process of identifying and documenting assets that can be used as collateral.
Then there's the capability to View the Collateral Management, allowing stakeholders to assess and monitor the collateral's details. Updating information on a selected collateral record is also essential to ensure that all data remains current and accurate. Lastly, viewing live updates to the collateral landing page enables interested parties to see real-time changes as new collateral is recorded or existing ones are modified. The ability to handle all these functions effectively ensures that both lenders and borrowers have a clear and timely understanding of the collateral's status.