Ideas for the Mambu Banking Engine

Payments allocation to specific installments that are past due

What: Allow loan repayments to be allocated to specific loan installments that are past due (late).

Why: Some organizations have a regulatory requirement to post direct debits to specific due installment that triggered the repayment, even if there are older direct debits/ due installments still pending on the loan account. E.g. the client is given the option to choose which installment they want to pay. 

Another use case is the processing of multiple direct debit requests. For example, if a borrower has 3 late installments and the lending organisation sends 3 DirectDebit requests to the borrower's bank, but the bank only executes one (irrespective of the order in the payment schedule), then the organisation needs to show that specific installment as having been paid.  

  • Ancuta Covaci
  • Dec 18 2018
  • Planned
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