Creating a product group

Process

Creating a product group is available to users with the Credit Officer role.

Step 1. Opening the creation form

The user clicks the button to create a new product group. The system displays the “Create product group” form.

Step 2. Filling in parameters

The user fills in all required fields of the form (described below in Product group parameters).

Step 3. Saving

The system validates the data while the fields are being filled in. If all fields are filled in correctly, the “Save” button becomes active. If errors are found, the system displays messages next to the corresponding fields. When a user clicks the “Save” button, the system saves the created product group.

Result: The product group is created. By default, it is inactive (the “Active” flag is off).

Caution

To make the group available for loan applications, the “Active” flag must be enabled during editing.

Product group parameters

General info

Parameter	Description	Type	Required	Possible Values	Default	Notes
Active	Activity flag for the group. Only active groups are available for loan applications	Yes/No	No	On / Off	Off	–
Loan type	Defines the basic structure of the lending product	Dropdown	Yes	See table below	–	Cannot be changed after the group is created
Name	Product group name	Text	Yes	Free text	–	Maximum 50 characters
Agents	Agents who have access to this product group	Multiple selection	No	List of registered agents	–	An agent can be assigned to multiple groups
Payment calculation type	Determines the method for generating the payment schedule	Dropdown	Yes	Depends on loan type; see table below	–	Cannot be changed after the group is created. Available values are filtered based on the selected loan type
Term period type	Unit of measurement for the loan term	Dropdown	Yes	Depends on calculation type; see table below	–	Available values are filtered based on the selected calculation type
Interest rate type	Determines how the rate is calculated	Dropdown	Yes	Depends on calculation type; see table below	–	Cannot be changed after the group is created. Available values are filtered based on the selected calculation type
Disbursement option	Method of disbursing funds to the borrower	Dropdown	Yes	See table below	–	–
Available payment frequency options	Payment frequency options for products within the group	Multiple selection	Yes	Depends on loan type; see table below	–	Hidden if the calculation type is Pay-Day Loan. Available values are filtered based on the loan type
First payment date	Possibility for the borrower to choose the first payment date	Yes/No	No	On / Off	Off	Displayed only for fixed-term loans with a calculation type other than Pay-Day Loan
Range of available days for the first payment date	Range of days available for choosing the first payment date	Number	Yes (if the “First payment date” parameter is enabled)	From 1 to 90	45	Displayed only if the “First payment date” parameter is enabled
Drawdown freeze	Number of days before drawdowns on a credit line are frozen	Number (days)	Yes (for credit lines)	From 5 to 999	5	Displayed only for the “Credit line” loan type

Loan type

Value	Description
Fixed-term loan	A loan with a defined repayment schedule and maturity date
Credit line	Revolving or non-revolving credit facility with a drawdown mechanism

Calculation type

Fixed-term loan

Value	Description
Pay-day loan	Short-term loan (single lump-sum repayment)
Annuity installment	Equal periodic payments that include both principal and interest
Linear principal repayment installment	Equal principal payments with decreasing interest

Credit line

Value	Description
Revolving credit line	The limit is restored after repayment
Non-revolving credit line	Repaid funds cannot be reused

Term period type

Calculation type	Available units
Pay-day loan	Days
Annuity installment	Weeks, Months, Years
Linear principal repayment installment	Weeks, Months, Years
Revolving credit line	Months
Non-revolving credit line	Months

Interest rate type

Calculation type	Available rate types
Pay-day loan	Fixed
Annuity installment	Fixed, Floating
Linear principal repayment installment	Fixed, Floating
Revolving credit line	Fixed, Floating
Non-revolving credit line	Fixed, Floating

Disbursement option

Value	Description
Manual	The operator initiates the disbursement manually
Automatic	The system initiates the disbursement automatically

Available payment frequency options

Value	Description
Fixed-term loan	Weekly / Fortnightly (every two weeks) / Monthly / Quarterly
Credit line	Monthly

Document signing

Parameter	Description	Type	Required	Possible Values	Default	Notes
Contract template	Contract template used to generate the agreement	Dropdown	Yes	List of uploaded templates of type “Contract template”	–	–
Amendment agreement template	Amendment agreement template	Dropdown	No	List of uploaded templates of type “Amendment agreement template”	–	–
Signing option	Method of contract signing by the borrower	Dropdown	Yes	See table below	–	–

Signing option

Value	Description
E-signature	Electronic signature (PandaDoc)
OTP	Signing with a one-time password
Outside the system	Signing outside the system (offline)

Decision making

Parameter	Type	Required	Possible Values	Default	Notes
Verification	Dropdown	Yes	See table below	None	If collateral is requested in the application form, the value must be “Manual”
Underwriting	Dropdown	Yes	See table below	–	–
Scoring providers	Multiple selection	Yes	See table below	–	–
Internal scoring model	Dropdown	Yes (if the “Internal” provider is selected)	List of available models	–	Displayed only when the “Internal” provider is selected
GiniMachine scoring model	Dropdown	Yes (if the “GiniMachine” provider is selected)	List of available GiniMachine models	–	Displayed only when the “GiniMachine” provider is selected
Credit bureau	Dropdown	No	See table below	–	Available values depend on the borrower type

Verification

Value	Description
Manual	The operator verifies the borrower’s data manually
None	No additional verification

Underwriting

Value	Description
Manual	The operator makes the decision manually
Semi-auto	The system generates a recommendation based on the scoring results, the operator confirms
Auto	The system makes the decision without operator involvement based on the scoring results

Scoring providers

Value	Description
Internal	Built-in scoring model of the system
GiniMachine	External scoring service GiniMachine

Credit bureau

Value	Description
Equifax	Equifax credit bureau (available only for individual borrowers)

Application form

Configuration of borrower application requirements when submitting a loan application.

Parameter	Type	Required	Default	Notes
Request bank statement	Yes/No	No	Off	–
Request utility bill	Yes/No	No	Off	–
Request loan purpose	Yes/No	No	Off	–
Request financial statement	Yes/No	No	Off	–
Request profit and loss statement	Yes/No	No	Off	–
Request balance sheet	Yes/No	No	Off	–
Request collateral	Yes/No	No	Off	When this option is enabled, the verification strategy must be “Manual”. A custom field builder for the collateral form is also displayed
Request further info	Yes/No	No	Off	When enabled, a custom field builder for the additional information form is displayed

Collection

Parameter	Type	Required	Possible Values	Default	Notes
Collection strategy	Dropdown	Yes	See table below	–	–
Overdue days before the collection starts	Number	Yes (if the strategy is not “No collection process needed”)	From 0 to 365	0	Displayed only if a collection strategy other than “No collection process needed” is selected

Collection strategy

Value	Description
No collection process needed	The collection process is not triggered
Default collection	Standard collection process

Loan calculator parameters

Parameter	Type	Required	Possible Values	Default	Notes
Minimum loan amount for the group	Number	Yes	From 0.01 to 99,999,999.99	–	Cannot be greater than the maximum amount
Maximum loan amount for the group	Number	Yes	From 0.01 to 99,999,999.99	–	Cannot be less than the minimum amount. Cannot be less than the amount selection step
Amount selection step	Number	Yes	From 1	–	Cannot exceed the maximum amount
Minimum loan term	Number	Yes	From 1 to 999	–	Cannot be greater than the maximum term. For credit lines: the minimum term in days cannot be less than the “Drawdown freeze” parameter
Maximum loan term	Number	Yes	From 1 to 999	–	Cannot be less than the minimum term
Term selection mode	Toggle	Yes	See table below	Fixed step	Displayed only for the “Fixed-term loan” loan type
Predefined term options	List of values	Yes (if selection mode is “Predefined options”)	Numbers in the range from Min term to Max term	–	Displayed only when the “Predefined options” mode is selected
Interest rate (for fixed rate)	Number (%)	Yes	From 0 to 999	–	Annual rate for instalment loans, daily rate for Pay-Day Loan. Used to calculate preliminary conditions on the calculator
Margin (for floating rate)	Number (%)	Yes (for floating rate)	From 0 to 999	–	Displayed only when the interest rate type is “Floating”. Used to calculate the floating rate
Interest rate (for floating rate)	Number (%)	–	–	–	Read-only field. Displayed only when the interest rate type is “Floating”

Term selection mode

Value	Description
Fixed step	Free selection: the borrower selects any value in the range from the minimum to the maximum term
Predefined options	Predefined options: the borrower selects from a defined set of fixed terms