Create a Deal
A deal represents a credit agreement between the lender and the borrower that governs the applicable terms of the facilities, which encompass various conditions such as Non-Business Day Rules, Agency Fee, and more. Below are the service operations used to streamline the process of initiating, managing, and tracking deals or transactions.
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Creates new offer deal for the required customer when the mandatory input details are provided. Offer deal creates a draft contract and allows the users to negotiate multiple times. Offer deal is a draft contract and will not affect the balance sheet of the bank.
Accept Deal Offer
POSTOn executing acceptance, the contract is changed from offer to live deal for the required customer when at least the mandatory input is provided. Process will check all the required mandatory inputs and prompt an error message when mandatory details are not provided. Once the accept deal offer is processed further offer negotiation is not allowed.
Cancel Offer
POSTDeletes a new offer for the required deal contract when at least the mandatory input is provided. Deal offer is a draft contract, which allow the user to delete the contract online and deal offer contract will not affect the balance sheet of the bank.
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Create a new deal for the customer with the details like product, term and amount . Corporate deal is a credit agreement between two parties- the lender and the borrower, who agree to certain terms and conditions along with their rights and obligations
Create a Facility
You can either create a standalone facility or create, accept, and activate an offer into a facility. A facility can also be merged or split.
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Creates a new offer facility for the required customer when at least the mandatory input is provided. Offer facility creates a draft contract and allow the users to negotiate multiple times. Offer facility is a draft contract and will not affect the balance sheet of the bank.
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Creates a new offer facility for the required customer when at least the mandatory input is provided. Offer facility creates a draft contract and allow the users to negotiate multiple times. Offer facility is a draft contract and will not affect the balance sheet of the bank.
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On executing acceptance, the contract is changed from offer to live facility for the required customer when at least the mandatory input is provided. Process will check all the required mandatory inputs and prompt an error message when mandatory details are not provided. Once the accept deal offer is processed further offer negotiation is not allowed.
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Creates corporate facilities
Create a Business Loan
You can create start-up loans, small business loans, and other banking loans (flexi pay, risk-free) with or without collateral, based on the selected product. Some loans have a defined maturity date, while others have the capability to be renewed or rolled over when the loan reaches the maturity date. You can create Business Banking (BB), Small Business loan and BB Start Up Loan using this service.
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Creates a business banking loan for a single or joint customer
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Creates a new drawdown offer for the required customer.
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Renegotiate the offer drawdown for the required customer.
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Accept the offer drawdown for the retail loan and convert offer drawdown into a live loan arrangement.
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Create rollover process from the drawdown where the rollover could be a split rollover, merge rollover or a one to one rollover. Split also called as one to many will rollover an old loan and create multiple new offer loans. Merge also called as many to one will rollover multiple old loans simultaneously and create a single new offer loan. Rollover also called as one to one will simply rollover an old loan and create a new offer loan
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Creates a drawdown for the specified customer by capturing necessary details such as interest, payment schedule, repayment, and settlement instructions. Through this service, the drawdown will be auto approved on creation.
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Splits/Merge/Rollover in Drawings level
Repay Facility
You can create a payment order for transferring the funds from an account to a facility arrangement account to repay the facility amount.
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Create the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
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Create the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Repay Facility
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Disburse Loan
Loan disbursements refer to the drawdown of the loan principal, which can be in a single disbursement or tranches. The proceeds of the disbursal can be channelized into a customer or customer-authorised account available within the bank or externally. In the former case, loan disbursements can be automatic (using a settlement account) or manual. In the latter case, funds can be transferred to another bank using clearing and other payment mechanisms.
Loan Disbursement
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Repay Loan
You can create a payment order to move funds from a loan account to a funding account by specifying the details such as currency, debit amount, initiation type, credit account, and so on.
Repay Loan
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
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Create a simulation for loan product with details like customer identifier, currency, etc.
Direct Debit
You can link between a financial institution, or payee, and a drawdown account to facilitate the automatic collection of funds through direct debit.
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Link the direct debit to an existing drawing under a facility
Payoff Loan
Loan payoff is the pre-closure of a loan in a single payment before the actual maturity of the loan tenure. Payoff can also be called foreclosure, early closure, or early settlement of a loan account. Loan payoff involves functions like a simulation of the outstanding amount payable and a distinct function for payoff loans based on the simulation.
Prepay loan
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Settle payoff
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Pay off simulation
POSTCreate a simulation payoff activity for loan product with product id details