Mambu Banking Engine

Ideas aimed to improve the current experience provided by the Mambu Banking Engine.

Preview loan schedule when new interest rates set in advance

What

Provide a preview of what the loan schedule will look like when a new interest rate set for a future date takes effect, but before said date arrives. For example, if the current rate is 3% per year, a new rate of 3.25% may be planned for 9 months from now, and a preview of the new schedule would be required.

This follows APP-675, for changing the interest rate on an active dynamic loan account.

 

Why

The terms of certain loans may permit interest rate changes, and so lending institutions may plan these in advance. A schedule preview would be useful to convey the new expected figures to their clients ahead of time, so as to avoid problems with payments or customer expectations.

  • James Anderson
  • Nov 8 2018
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