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  1. Bank + Lending + Insurance
  2. Process
  3. Repayment and servicing
Process · Repayment and servicing

Repayment and servicing

Allocate confirmed money and preserve the authority behind changes and corrections.

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Step by step

  1. Confirm the receipt Credit Officer

    Credit Officer requests the eligible servicing action using the agreed repayment source. The workflow imports verified receipts with the received amount, provider event and loan reference. An unverified receipt must be resolved before allocation.

    • Import verified funds with their source identity
    • Updates Repayments, Loan accounts

  2. Check the schedule guard Credit Officer

    Before writing an allocation, the guarded route checks whether the intended schedule already carries an unreversed allocation. If it does, the run stops without creating another allocation. Independent Credit Approver investigates the existing allocation before the team attempts a further servicing action.

    • Block an ineligible schedule before allocation
    • Updates Repayment allocations, Repayment schedules

  3. Allocate within the receipt Credit Officer

    For an eligible schedule, the allocation workflow applies principal, interest and fee components within the actual amount received. A payment can become Applied or remain Partial. Independent Credit Approver inspects the resulting component amounts and any unapplied remainder.

    • Apply bounded component amounts to an eligible schedule
    • Updates Repayment allocations, Repayment schedules, Repayments

  4. Retain reviewed changes Credit Officer

    Credit Officer requests only an authorized servicing change through the agreed route. Independent Credit Approver checks the recorded approver, effective date and reason alongside the prior schedule version. Preserve the evidence for a reschedule, rate change, write-off or correction and its operational receipt.

    • Preserve the change authority and prior schedule version
    • Updates Loan changes, Repayment schedules, Operation receipts

  5. Correct and reconcile Credit Officer

    Credit Officer uses the authorized correction route when needed. Distinguish an unexecuted draft from accepted or executed scope, retain the original application and attach successor evidence. Independent Credit Approver reconciles resulting effects; unresolved discrepancies remain Needs review.

    • Retain original scope and verify successor effects
    • Updates Loan applications, Record attachments, Operation receipts

Where it usually breaks

And how to keep it from happening.

  • Allocation exceeds receipt. Compare all component amounts with confirmed received money before accepting the result.
  • Different entry point bypasses the guard. Exercise both page-triggered and repeated runs against the same schedule. The existing unreversed allocation must still block another allocation.
  • History overwritten. Preserve the original application and schedule context when correcting executed work. An unexplained balance edit cannot substitute for reviewed change evidence.

Who does what

Roles and permissions
Credit Officer
, Independent Credit Approver, Auditor, Admin.

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