What's New in the Real-time Release Process? Updated Scheduled Repayments!

It is with great excitement that Loan Sphere announces an advancement to our repayment schedule generation process.

After some time in development and testing, we are excited to provide our customers with real-time scheduled repayment calculations for additional repayment types – All Interest + N% of Capital and Interest Only (Actual Days).  During this revision, we have also added in additional triggers to key loan fields utilised as part of the setup process, which will see the system generate scheduled repayments based on changes to these loan fields within seconds until the loan reaches a status of Approved.  Once approved, schedules are “locked” with the only way of updating a schedule after Approval is to utilise the Reprocess Repayments button.

In addition to these changes customers may also notice some further validations in place to assist them with creating loans. 

Feedback

As always, we welcome customer feedback and ask customers to reach out via support ticket should they notice that this functionality does not process as expected.  

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