Loan product

The Tuum loan products module allows you to configure different loan products that you can offer to your customers. The loan product configuration module determines product behaviour, business rules, pricing and input validation rules.

The BackOffice allows:

• Creating loan product,

• Searching loan products,

• Editing loan products,

• Duplicating loan products.

Create loan product

1. Loans > Products > Loan products.

2. In the upper-right corner, click the Add new product button.

3. New product creation screen is displayed.

4. Enter all the required information. See more in the loan parameters section.

5. Click the Create product button.

Loan product parameters

Here you will find a list of the parameter groups that should be filled when creating a new loan product:

Loan groups

General parameters

Principal

Period limitation

Interest conditions

Interest on unused limit

Disbursement

Repayment scheduling

Fees

Origination process

Invoice rules

Receivable formation rules

Receivable line rules

Loan to value rules

Pricing

Penalty

Custom fields

Loan product use cases

After entering all product settings, the Tuum system performs validation.

• If an error occurs, the system returns the error message; the product data is not saved.

• If the validation checks are passed, the new product is registered in the system. You can find all registered products under the Loan products list.

Search loan product

1. Loans > Products > Loan products.

2. Click on the Product to view the loan product details.

BackOffice users with the VIEW_LOAN_PRODUCT privileges can search and view the loan products.

Edit loan product

1. Open the necessary loan product.

2. Modify the parameters > click the Update button.

BackOffice users with the EDIT_LOAN_PRODUCT privileges can edit the loan products.

Duplicate loan product

1. Loans > Products > Loan products.

2. Find the loan product that should be duplicated and click the copy icon .
3. A new page with prefilled loan product settings will appear.

4. Check the settings and click the Create product button.

BackOffice users with the DUPLICATE_LOAN_PRODUCT privileges can duplicate the loan products.