Add or Remove Account Holders
It is a common banking practice to have more than one party, for example joint-holders, in a deposit. This section describes how a bank can maintain the deposit contract by adding or removing parties to an existing deposit.
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Update the customer details of the term deposit such as add or remove joint customers
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Update the customer details of the term deposit such as add or remove joint customers
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Retrieves all the customer details for the given arrangement such as customer id, customer name, customer role, their beneficiary type, limit allocation percentage, GL allocation percentage and tax liability percentage.
Posting Restriction
Banks employ posting restrictions to regulate transactions in deposits. Posting restrictions are transaction-based controls, that prevent transactions from being posted for the purpose of operational control. A typical business case in which a bank applies a posting restriction to control credits is for non-resident accounts, where there could be restrictions against the deposit of local currency amounts into the deposit.
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Update the account conditions of the term deposit such as alternate references, posting restrictions, etc
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Update the account conditions of the term deposit such as alternate references, posting restrictions, etc
Payment Schedule
A payment schedule for a deposits product is the interest payments that are made on the deposit account. The payment schedule outlines when and how interest payments will be made to the account holder.
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Update the payment schedule details of the term deposit such as payment frequency, payment type
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Retrieves the payment schedule details of an account
Manage Interest
Banks can pay interest to the customers on credit balances held in their deposit accounts. The interest can be changed in the following ways
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Update the interest conditions of the term deposit such as interest rate, spread, margin etc
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Retrieves the interest details of an account such as interest rate , interest type and interest amount
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Retrieves the interest accrued for the current period of an account
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Retrieve the past period's interest accruals
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Retrieves the interest accruals of the previous year
Renegotiate Deposits
Renegotiating deposits involves negotiating new terms and conditions for a term deposit account before its maturity date. These negotiations may include a change in the original terms of the account, such as the interest rate or the maturity date and so on.
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Perform the renegotiation of the term deposit contract details such as payment frequency, interest rates, etc.
Renewal of Deposits
Renewal of deposits enables the account holders to extend the term of their deposit account that has reached its maturity date.
Deposit Renewal
POSTPerform the rollover of the deposit for the given rollover date or period
Update Term
PUTUpdate the tenure of the term deposit by providing tenure or maturity date
Change Product
Changing product is the process of switching from one type of deposits product to another within same product group offered by the bank or financial institution that may involve additional fees and charges.
Change Product
PUTUpdate the contract from one deposit product to another
Change Branch
You can shift an active account of a customer from one branch to another.
Change Branch
POSTUpdate the branch for the deposit
Deposit Settlement
Settlement information outlines the details of how an account balance is paid or settled, either by the account holder or by a third party. This information can include the amount of the payment, the payment method, the payment date, and any associated fees or charges.
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Update the settlement conditions of the term deposit such as payin account, payout account, beneficiary etc
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Retrieves the settlement details for the given arrangement such as payment type, payin account, payin percentage, payin amount, payout account, payout percentage, payout amount, etc
Deposit Closure
Closure of a deposit account refers to terminating a term deposit account before its maturity date. You can use this query to fetch the details related to closure of deposits.
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Redeem the term deposit to close the deposit by providing the settlement instructions
Deposit Closure
PUTRedeem the term deposit to close the deposit by providing the settlement instructions
Simulate Redemption
POSTSimulate a deposit redemption and the payload should include the settlement instructions to which the deposit amount is to be credited. Common usage of this is for simulating withdrawals when customers want to withdraw their deposits before the actual fixed maturity date of the deposits.
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Retrieves the redeem bill for the given deposit by providing the deposit reference and simulation reference for simulated deposits
Migration
Below are the service operations and their respective APIs involved in migration of deposits, bills and deposit balances.
Migrate Deposits
POSTMigration of a legacy system deposit contract to the given deposit product by providing the original contract date, account name, statement, payment frequency and start date, etc. This can be used for migrating the legacy contract to deposits account by providing required details.
Migrate Bills
PUTCaptures the bill information of the deposits account such as bill id, property names, bill amount etc. This is used to migrate the bills of a legacy contract which is migrated from other system & update the bill details.
Migrate Balances
PUTCaptures the balance details of the deposits account such as balance type, due amount etc. This is used to migrate the balances of a legacy contract which is migrated from other system & update the balance details.
Change Commitment and Term
The deal commitment amount can be increased based on the customers repayment history or decreased in the case of customer request after deal creation. It is also possible to update the tenure of a deal. The above functionalities can be achieved using the following service operations.
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User should be able to increase the commitment amount of the existing deal arrangement.
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User should be able to decrease the commitment amount of the existing deal arrangement
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Deal tenure can be increased or decreased
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Increase the commitment amount of the credit agreement (facility) with the incremental amount
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Decrease the commitment amount of the credit agreement (facility) by the specified amount
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Updates facility tenure by increasing or decreasing the term, in addition it allows the amendment of the availability schedule of the contract.
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To increase the drawdown commitment for a given arrangement
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To decrease the drawdown commitment for a given arrangement
Block or Unblock Commitment and Term
The deal commitment term can be blocked or unblocked based on the customer's request after deal creation for a particular period.
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Existing deal level commitment term is blocked
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Existing deal level commitment term is unblocked
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There could be adverse credit rating of the customer as part of the periodic review and bank would like to restrict further credit exposure. In such cases when the facility is blocked further drawdowns are not allowed while the existing drawings can be serviced.
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There could be adverse credit rating of the customer as part of the periodic review and bank would have restricted further credit exposure and stipulated some mitigants to be fulfilled by customer based on which the restrictions on credit exposure can be lifted. This API is used to unblock the facility commitment.
Update Deal Limit
You can update the credit limit of the customers with information like the sanctioned amount, expiry date, and review frequency of the limit.
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Allows update of credit limit for customer with information such as sanctioned amount, expiry date, review frequency of limit - Deprecated. Use holdings-creditLimits-service-v1.0.0 instead. New url- /holdings/creditLimits/limits/{limitId}/unsecuredLimits(updateUnsecuredLimits) or /holdings/creditLimits/limits/{limitId}/securedLimits(updateSecuredLimits) or /holdings/creditLimits/limits/{limitId}/limitAmounts(updateLimitAmounts)
Update Pricing Grid
You can change the pricing grid fee or margin ratchet that is defined in the product conditions.
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Update fee ratchet for a given facility or deal arrangement
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Update margin ratchet details for principal Interest, penal interest and commission at deal level
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Update pricing grid margin for principal & penal interest at drawdown level
Update Charge Definitions
Charges can be in the form of admin or new arrangements or withdrawal fees. Changing these fees defined at the product condition level refers to the updation of charge definitions.
Change Admin Fee
PUTUpdate administrative fee collected for the deal
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It is a common fee charged by lenders when you apply for a loan, it covers the costs of processing your application, including things like administrative costs, credit assessment, loan set-up and document preparation etc.
Closure
The deals are closed after the facilities under a deal are closed.
Closure of Deal
PUTPerform the full credit agreement (facility) cancellation
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Deletes a new offer for the required facility contract when at least the mandatory input is provided. Facility offer is a draft contract, which allow the user to delete the contract online and facility offer contract will not affect the balance sheet of the bank.
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Cancellation of offer drawdown for the required customer.
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Retrieves the payoff details of a loan
Update Participant
You can update the participant settlement instructions, skims, charges, own bank account details, agent bank beneficiary details, and trading details.
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Update participant settlement instructions, skims, charges, own bank account details, agent bank beneficiary details and trading details.
Manage Schedule
Below are the service operations related to manage and retrieve schedule details.
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Allow user to change schedule condition in facility level.
Change Schedule
PUTPerform repayment date change for the loan product with details like loan reference, product id , etc.
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Retrieves the schedule payment information for paid and upcoming installments details
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Retrieves the schedule payment information for paid and upcoming installments details
Manage Limits and Sublimits
A limit defined for a customer can be updated at the facility level.
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Allows update of credit limit for customer with information such as sanctioned amount, expiry date, review frequency of limit - Deprecated. Use holdings-creditLimits-service-v1.0.0 instead. New url- /holdings/creditLimits/limits/{limitId}/unsecuredLimits(updateUnsecuredLimits) or /holdings/creditLimits/limits/{limitId}/securedLimits(updateSecuredLimits) or /holdings/creditLimits/limits/{limitId}/limitAmounts(updateLimitAmounts)
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User should be able to update the sub limits based on the risk criterion. When restrictions and allocations are regulated based on the risk elements, borrower, currency and product (product, product group, and product line).
Update Covenants & Conditions
You can update covenants and conditions for a facility. Covenants are requested on a periodic basis and the conditions are one-time evidence. On non-submission or non-compliance with the evidences, the related consequent activity will be restricted.
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Performs update of covenants and conditions for a facility. Covenants are requested in periodic basis and the conditions are one-time evidence. On non-submission or non-compliance of the evidences, the related consequent activity will be restricted
Capture Merge or Split
You can split a facility into two or more facilities or merge two or more facilities into a single facility.
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API for the creation and management of credit agreements for corporate customers. The types of credit agreements are single level facility, credit agreement with multiple facilities, club loans with agency and syndicated loans
Update Drawing Details
Drawing conditions are initiated to restrict customers, currency, and products for drawdown with overrides. It is set based on the product line, product group, product, property, currency, attribute, value, and message for drawdown under facility level.
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Drawing condition are set based on the product line, product group, product, property, currency, attribute, value, message for drawdown under facility level.
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Drawing rules such as borrower, currency, product and product group are defned for drawdown under facility level.
Update Account Details & Settlement Instructions
You can update the details related to the settlement and account holder.
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Links a direct debit to an existing facility
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Update the account conditions of the loan such as alternate references, posting restrictions, etc
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Perform the renegotiation of the loan contract details such as payment frequency, interest rates, etc.
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Perform the renegotiation of the loan contract details such as payment frequency, interest rates, etc.
Balance Maintenance
Balance Maintenance involves managing financial accounts and ensuring that the balances, bills, and debts associated with those accounts are properly maintained and reconciled.
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Bill balances such as commitment balance, principal or interest or charge amount of facility should be adjusted
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Perform the write off of all the balances and bills of a loan. Bank calls for the write off of a loan borrowed by a defaulter when the chances of loan recovery are almost zero and its assets are non-performing.
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Bill balances such as commitment balance, principal or interest or charge amount of facility should be adjusted
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Perform a write off of the balances and bills such as principal or interest or charge amount for the unpaid loans
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Perform a write off of the balances such as principal or interest or charge amount for the unpaid loans
Write Off Bills
PUTPerform a write off of the bills such as interest or charge amount for the unpaid loans
Change Exchange Rate
You can update the exchange rate when there is a cross-currency involved and by considering facilities and drawings in different currencies.
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Given the scenario, when there is a cross currency involved considering facility and drawings in different currencies, exchange rate is applicable and the same is updated using the exchange rate functionality. Exchange rate property class is to define the Exchange Rate (FX), rate tolerance and prior days, advance FX fix activity, and so on to support the advance FX fixing requirement. Drawings created other than the facility currency, the exchange rate defined under the exchange rate property should be applied. User should be able to retrieve the exchange rate details updated with this API.
Add or Remove Account Holders
You can opt to be a single account holder or multiple holders (joint names) while borrowing a loan from a bank. The latter option usually opts when you pool your income, making your loan eligibility higher, or for claiming tax benefits.
Change Customer
PUTUpdates the customer for the given loan contract
Payment Holiday
You can skip the periodic repayments for your active loans, as agreed in advance by both the lender and borrower. This feature is convenient when customers face economic crises due to individual or abnormal scenarios like COVID. All aspects of payment holidays are controlled by the bank, in agreement with the customer, and can be applied to any outstanding loan(s) of a customer.
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Initiate update payment holiday activity for a small business loan
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Simulate update payment holiday activity for a small business loan
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Retrieves payment holiday details for the given arrangement such as payment type, holiday date, original payment amount and new payment amount
Posting Restriction
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Update the account conditions of the loan such as alternate references, posting restrictions, etc
Manage Interest
You can update the interest conditions of the loan such as interest rate, spread, margin, and so on.
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Update the interest conditions of the loan such as interest rate, spread, margin etc
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Retrieves the interest accrued for the current period of an account
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Retrieves the interest accruals of the previous year
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Retrieve the past period's interest accruals
Loan Evidences
Loan evidence refers to the documentation or supporting materials that provide proof of the existence, terms, and conditions of a loan agreement. These documents serve as tangible evidence of the loan transaction and are crucial for record-keeping, legal purposes, and tracking loan-related information.
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Performs update of covenants and conditions for a loan account. Covenants are requested in periodic basis and the Conditions are one-time evidence. On non-submission or non-compliance of the evidences, the related consequent activity will be restricted
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Captures and accepts the Annual Financial Statement details like Debt Equity ratio, profit or loss and turnover of the company
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Captures and accepts the incorporation certificate details like entity name, type, incorporation date
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Captures and accepts the Quarterly Financial Statement details like Debt Equity ratio, profit or loss and turnover of the company
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Retrieves the covenants and conditions for a loan account. Covenants are requested in periodic basis and the Conditions are one-time evidence. On non-submission or non-compliance of the evidences, the related consequent activity will be restricted
Update Evidences
PUTPerforms update of covenants and conditions for a loan account. Covenants are requested in periodic basis and the conditions are one-time evidence. On non-submission or non-compliance of the evidences, the related consequent activity will be restricted
Change Product
You can change a loan from one product to another like changing one loan product to another loan product.
Change Product
PUTChange loan from one product to another such as changing one loan product to another loan product
Charge Off
Borrowers can default on their payments due to economic or other personal crises. Under these circumstances, a bank may deem certain receivable amounts on the loan arrangement to be charged off. A charge off can be for the overdue amounts (partial) or the entire loan amount. Customers are not aware of a charge off and bills are generated as usual. However, the charged off balances are held in a separate account on the banks books (shadow balances).
Charge Off
PUTExecute loan charge-off activity to charge-off account balance only
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Retrieves the charge off balances of an arrangement account
Migration
Migration on loans involves transferring loan contracts, including contract details, bills (IDs, properties, amounts), and balance specifics.
Migrate Loans
POSTMigration of a legacy system loan contract to the given product by providing the original contract date, principal amount, term, payment frequency and start date, etc.
Migrate Bills
PUTCaptures the bill information of the loan such as bill id, property names, bill amount etc. This is used to migrate the bills of a legacy contract which is migrated from other system & update the bill details
Migrate Balnaces
PUTCaptures the balance details of the mortgage loan such as balance type, due amount etc. This is used to migrate the balances of a legacy contract which is migrated from other system & update the balance details.