Mambu Banking Engine

Ideas aimed to improve the current experience provided by the Mambu Banking Engine.

An option to include interest, fees and/or penalty in the payment due amount calculated as " % of outstanding principal balance" for rev. credit

What

Options to define on a product level to include interest, fees and/or penalty balances (separately) in the payment due amount for revolving credit accounts with repayment method: " % of principal balance" whereby due amount should be calculated either based on full outstanding principal balance or the portion of the principal that is not due yet.

Why

Some customers communicate to their clients monthly payment amount for credit card accounts, that is calculated as a percentage of principal balance. However, other balances (interest/fee/penalty) could be included in this payment amount, so that clients can easily calculate payment due based on the principal balance created by card transactions.

  • Szymon Kłapciński
  • Apr 22 2020
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