ARTICLE
Navigating the impact of interest rate changes made simple with Mambu
20 September 2023
While changes in interest rates may be unpredictable, their impact on loan repayments don’t have to be. With the latest release from Mambu’s Lending Engine, loan repayment schedules are automatically updated to reflect future dated changes in interest rates, helping lenders better manage their loan portfolios and proactively communicate changes to borrowers.
Typical of loan products such as retail mortgages that use a benchmark index interest rate as a reference to calculate loan repayments. Any changes in the underlying benchmark, will impact the instalment amount that borrowers can expect on their loans.
With this enhancement, lenders will be able to:
- Proactively notify their customers about the impact ahead of the changes
- Give borrowers more confidence and control over their loan repayments
- In some cases, comply with regulations that require that lenders notify borrowers in advance
To learn more about automatically updating repayment schedules when interest rates change, visit our support documentation.
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