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Mambu releases a new interest calculation option from our Deposits Engine — fortnightly interest on savings accounts designed to meet customer and regulatory requirements in the French market.
When this feature is enabled, interest on savings in a deposit account is calculated using a fortnightly balance assessment.
Fortnightly interest offers Banks additional options to better serve the needs of their customers, expand their product offering, and improve the customer experience. This feature also unlocks new opportunities for Banks in France, where fortnightly interest is a common market practice and regulatory requirement.
To learn more about interest calculations on deposit products, see our support documentation.