Ideas for the Mambu Banking Engine

Automatic population of the "Anticipated Disbursement Date"

What: allow specifying on the product level if the anticipated disbursement date should be populated automatically, for example "Anticipated disbursement X days after Approval". If this option is enabled, user could enter a number of days that would be added to the Approval date and auto-populate the "Anticipated Disbursement Date". 
Please note there should still be an option to overwrite this date manually by users with the proper permissions. 
 
Why: usually, at the time the loan account is created, especially those which are “Partial Approval” type of loans, it is not yet certain when exactly it will be disbursed. However, many organisations have constraints as to when the loan should be disbursed, typically referring to a number of days after approval (for example, the loan should be disbursed maximum 2 days after the approval date). If the anticipated disbursement date was populated automatically, the manual input could be avoided and therefore also reliance on the inputter’s judgement as well as the probability of human error. 
Since the "Anticipated Disbursement Date" additionally affects the schedule (often used in contracts as a placeholder), a mistake when inputing the disbursement date may result in incorrect information in the loan contract. 
  • Dorota Nosal
  • May 15 2015
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