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As more and more people look to take out loans and lines of credit, having a streamlined system for managing these lending accounts is crucial for financial institutions. As a powerful cloud-based banking platform, Mambu offers a range of features to help banks manage lending accounts efficiently and effectively. In this blog post, we’ll explore how easy it is to create and manage credit arrangements using Mambu.

Credit exposure

A credit arrangement is the maximum amount a borrower can take out in loans and overdrafts. A borrower may have multiple credit arrangements, each linked to specific loan and overdraft accounts. Each credit arrangement can have its own constraints, including maximum credit exposure amount and validity dates.

Creating a new credit arrangement in Mambu is straightforward. From the client profile, you provide details of the credit arrangement including the loan amount, interest rate, and repayment schedule. Accounts can be added or removed from the credit arrangement with a click.

Mambu offers several options to customise credit arrangements to meet specific lending requirements, such as setting up loan periods, grace periods, and repayment schedules.

Managing credit arrangement in Mambu includes several important functions, such as modifying loan terms, rescheduling payments, and generating compliance reports. Mambu’s APIs and easy-to-use UI enable financial institutions to perform these functions and efficiently manage credit arrangements.

Finally, financial institutions can retrieve a consolidated schedule of a credit arrangement via our APIs. This functionality provides a comprehensive view of all the payments due for a credit arrangement, including the payment date, principal, interest, fees, and any other charges. This API can be used to integrate Mambu with other financial systems, allowing financial institutions to streamline their operations.

Want to know how Mambu’s credit arrangement functionality can work for your business? Get in touch.

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