The multiple charges offers greater flexibility and efficiency in managing recurring charges for member accounts. It supports better management of various charges associated with a member, such as lateness, absenteeism or any other penalty charges. Key Features How to Configure the Multiple Charges The Benefit of Multiple Charges
Wakandi CAMS gives provision to add multiple fees to a single loan application and manage them seamlessly. Borrowers can repay all associated fees in a single transaction through the teller module. How to Configure the Multiple Fees In the Teller module, all applicable fees for a loan will be displayed for streamlined payment processing.
The system supports calculating loan penalties based on various time intervals giving the financial institutions a wide range of options which are listed below The admin is required to edit and approve the Credit Product Policy (CPP) and approve it to ensure the feature applies Here is How
Overview Steps Benefits This enhancement can significantly improve the loan application process and borrower satisfaction.
The automatic SMS notifications for loan repayments and overdue reminders are important because they ensure timely communication with borrower. These notifications can be configured directly within the Credit Product Policy (CPP) settings. Setup Process: Key Points: This feature streamlines loan repayment communication, reduces defaults, and ensures borrowers are well-informed about their obligations.
This feature that allows users—both admins and members—to combine self-guarantors (loan owners), member guarantors, and collateral during loan creation. This added flexibility simplifies loan guarantee management while offering members more options to secure their loans. Key Scenarios for Implementation: Setting Up Flexible Guarantor Options: This feature empowers organizations to tailor loan guarantees based on their…
This feature enables administrators to customize loan applications by editing or overriding the following parameters, as specified in the Credit Product Policy (CPP): This customization applies exclusively to new loan applications. Steps for the New Implementation:
Wakandi CAMS has the ability to backdate loan disbursements! This ensures that loan repayment schedules now accurately reflect backdated transactions, enhancing record accuracy and customer trust. Watch the DEMO below to learn the steps in detail (best viewed in full screen). Steps to Use the Backdated Loan Disbursement Feature:
The loan top-up process provides a streamlined workflow with the flexibility to manage additional amounts and adjust the outstanding loan balance. Steps for Applying a Loan Top-Up: Example:
Accessing quick loans has never been easier! Wakandi now has a prominently visible Quick Loan feature in the Member App. With just a few clicks, members can apply for a loan effortlessly. How a Member Can Apply for a Quick Loan