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Payments

The Payments section lists three tabs with various items that illustrate a workflow.

Settlement orders

Settlement orders are created after loans are approved and contain a snapshot of information with regards to what the borrower agreed to in the loan application. If settlement orders are pending they will also be selectable, in the example below a complete (settled) order is shown.

Open

Instructions

Once settlement orders are approved an instruction is created that contains the information that should be sent to the bank.

Open

Instruction batches

When a number of pending instructions have been selected and approved a batch of instructions is created and added to a file that is generated that should be sent to a bank for processing. The file is saved for reference in the Band End.

Mandates

Mandates are created in order to be sent to Autogiro for Swedish customers where their bank accounts can be verified in order to know that they are registered on the customer. This is a feature that can be required or not depending on the configuration of the product. Mandates and mandate batches are managed in the same way as instructions and instruction batches above.

Reconciliation

The Reconciliation section is for reconciling various parts of the platform with bank accounts and loan positions

Bank Accounts

Bank accounts, their balances, and their transactions are listed in order to reconcile these against the bank account statements at the bank.

BFS Accounts

The BFS account view is used to display the accounts that are present in the lending part of the system and display their transactions and balances.

Total view

The Total view is used for reconciling the bank accounts, BFS accounts, cash and loan positions.

KYC screening and Politically Exposed Persons

KYC Screens are described in more detail in the specialized section about this.