Since the first repayment strategy got introduced, many followed, but there was one thing common in them:
They were hard coding the allocation rules for each transaction type.
By introducing - part of the 1.9.0 release - the “Advanced payment allocation” the idea was to have a repayment strategy which was:
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Supporting dynamic configuration of the allocation rules for transaction types
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Supporting configuration of more fine-grained allocation rules for future installments
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Supporting reprocessing of transactions and charges in chronological order
Capabilities
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Allocation strategy:
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Horizontal (installment level)
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Vertical (loan level)
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Allocation rules:
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Based on due time type (past due, due, in advance)
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Based on due balance type (principal, penalty, fee, interest)
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Transaction level configuration
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Fine-grained in advance payment allocation rules
During the session the audience will get a better insight about the business requirements - which lead to introducing this new repayment strategy mechanics into Fineract - and learn its provided functionalities.
