Ideas for the Mambu Banking Engine

Compounded Interest Accrual for Loans

What: Add a new Compounded interest accrual for loans at Product level. Interest in such loans is not capitalized, but calculated based on principal + accrued interest compounded to date.

Why: Compounded interest for loans is commonplace in some markets, where it is permitted and can even be used more frequently than Simple interest. For Loans Mambu only supports Simple interest or some Capitalized scenarios, none of which can cover this requirement.

  • Rodrigo Ocampo
  • Jun 17 2019
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