Ideas for the Mambu Banking Engine

Manual/custom allocation of repayments by the Fee Name

What:

A possibility to allocate repayments to specific fees charged on an account based on the Name of the Fee/ its Encoded Key (not only based on the fee type). For example, if 3 different fees are captured as a Manual Fee Type: legal fees, statement generation fees and insurance fees - the tenants should be able to decide which of these manual fees should be paid first.

Why:

There might be different business cases when tenants need to pay a certain fee first, before allocating repayment to another one:

1. Certain charges are paid in cash and therefore are settled immediately after they are applied, for example a fee paid in cash in a branch for a printed statement

2. Different fees might be treated differently depending on the account status (e.g. a reminder fees for a late repayment might take priority over insurance fees if an account goes into arrears)

  • Gerard Loedolff
  • Jun 17 2019
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