Ideas for the Mambu Banking Engine

Change logical order of schedules created with option to collect principal every X payments

What:

Reverse the logical order in which we create schedule when option collect principal every X payments is selected. 

Currently, we calculate the principal on the first instalment, whereas it should be charged at the end of the period specified in the Repayment Scheduling section in the product setup.

Why:

Current logic is against business definition of the loan, i.e. tenants do not expect clients to pay principal on the first instalment on a loan defined with for example quarterly repayment of principal. The expectation is to repay the principal at the end of the quarter and not the end of the first instalment.  

  • Dorota Nosal
  • Mar 16 2015
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