Currently loan schedules can't be imported when new tenants migrate their data to Mambu. When loan accounts are imported, the repayment schedules are created by Mambu based on the product settings and the loan account terms.
Given that the systems our tenants migrate from are very different, it is most of the time almost impossible to match the outstanding loans' schedules with the ones created in Mambu at migration.
As a result, manual corrections and/or scripts are necessary each time; sometimes we are also forced to adjust our methods, add new calculations just to allow a migration.
These issues or additional efforts are still manageable for small migrations, but will be much more difficult to do for bigger organizations, with a lot of data and exceptions in the way loans schedules were managed in their old systems.
Ideally, we should be able to import a loan WITH its repayment schedule.
This will solve the 3 main issues we currently face when migrating loans for new tenants:
1- all the small differences in calculation methodologies between legacy systems and Mambu - most of the time, new tenants are happy to go ahead with Mambu calculations for their new loans; old loans, however, have to be migrated with their existing schedules because this is what the tenant agreed with those borrowers
2- all the exceptions - i.e. rescheduled, restructured or manually edited loan schedules - currently the only solution is to import these accounts, then manually change each of them in Mambu (not possible for dynamic loans!) or to replicate the rescheduling process step by step from the old system in Mambu, manually; this will be impossible to do for a big number of loans
3- all the differences between products - often we find differences in the product terms of outstanding loan accounts; or else tenants want to consolidate 2 products in one; we have to create 2-3 products for migration, then for going live; this is confusing and could lead to further errors when going live.