Ideas for the Mambu Banking Engine

Preview loan due amounts in a future date

What: add an option to be able to preview loan due amounts in a future date.

Why: Clients that want to pay off a loan in a future date want to know how much it would be, currently manual calculations are required for this.

  • Rodrigo Ocampo Uribe
  • Aug 24 2015
  • Planned
  • Attach files
  • Nick Nicolaou commented
    September 11, 2018 09:40

    I would add that the feature would need to give the option to add optional fees that you may want to charge.

    Also an option to enter a principal / interest adjustment if needed. For example, what if there is an agreement that early settlement would lead to a partial write off of principal and/or interest but if it doesn't materialise, then you would not want to have actually done the partial write off but still want to 'quote' on the basis it may happen.

    Also when a loan has one or more scheduled repayments between the date the settlement figure is given and the future date of settlement itself, the calculation should be able to give both the figure with and without any scheduled payments being made.  For example, if the customer has a due payment in 10 days but wants to settle in 12 days time, I want to be able to offer the settlement figure with or without that scheduled payment expected to be made.