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In new Group Loan there will be a new approach of Group Loan account. There will be individual member accounts and Group loan account only for information purposes. During the Group loan creation, also individual accounts will be created for every member of group loan. Group loan account will be will be a sum of member's accounts. It would be possible to access every individual member loan account, so that there will be a possibility to repay every individual account or close it, and information about that will be immediately visible on Group loan account. While applying payment to the entire Group loan, amount will be divided automatically into Group Loan account members but there will be also possible to modify exact payment amount of every member. This new approach will be more flexible and will meet more client requirements.
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- Old Loan Product should accept new Group Loans for Groups
- Possibility to create Group Loan account with individual member loan accounts
- Ability to apply payment to Group Loan and also to individual member loan accounts
- Possibility to apply payment to entire Group loan with automatic amount deduction and option to manually edit payment amount for every individual member
- Possibility to apply payment only to individual member loan account
- Possibility to repay new Group Loan by trasfer from Savings
- Possibility to access individual member loan account from Client details page
- Possibility to adjust transactions on Group loan account with option to manually correct amount for every individual member
- Possibility to adjust transactions made on individual account
- Possibility to apply fees/penalties to group account with automatic amount deduction (according to contribution of every member) and option to manually edit charge amount for every individual member
- Possibility to apply fees/penalties to individual member loan account
- Possibility to apply full repay to individual member loan account and also to group loan account
- Amounts on group account are sum of amounts on member accounts
- No possibility to modify loan account parameters from member accounts
- Possibility to redo Loan with new Group Loan approach
- Possibility to reverse new Group Loan
- Possibility to repay new Group Loan by using Audi Bank Plugin
- Possibility to approve new Group Loan by using 'Approve multiple loans' functionality
- Possibility to attach Question Groups to new Group Loan
- Possibility to close individual member Loan account and also the whole new Group Loan
- Information about transactions on Group and individual accounts should be recorded in the database.
Non-Goals
The following items will not be addressed in this release:
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Priority | User Stories | Section in FR |
|---|---|---|
1 | As a user, I want to be able to create Group loan account, so that every member of group loan will have his own individual account | 2.1 |
| 2 | As a user, I want to be able to create product for Groups | 1.1 |
| 3 | As a user, I want to be able to have access to individual member accounts from Client details page | 2.3 |
| 4 | As a user, I want to be able to make payments to entire new Group Loan | 3.1, 3.2, 3.3 |
| 5 | As a user, I want to be able to specify exact payment amount for every member while applying payment to group account | 3.1, 3.2, 3.3 |
| 6 | As a user, I want to be able to make transactions to particular individual member loan account | 3.4, 3.5, 3.6 |
| 7 | As a user, I want to be able to repay Loan transfer from Savings account | 3 |
| 8 | As a user, I want to be able to repay Loan by using Audi Bank plugin | 7.1 |
| 9 | As a user, I want to be able to apply fees/penalties to the whole new Group Loan and have possibility to modify fees/penalties amount for every member of the Loan | 5.1 |
| 10 | As a user, I want to be able to apply fees/penalties to individual member Loan account | 5.2 |
| 11 | As a user, I want to be able to apply adjustment to the whole new Group Loan and have possibility to modify adjustment amount for every member of the Loan | 4.1 |
| 12 | As a user, I want to be able to apply adjustment to individual member Loan account | 4.2 |
| 13 | As a user, I want to be able to apply full repayment to whole new Group Loan | 3.7 |
| 14 | As a user, I want to be able to apply full repayment to individual member Loan account | 3.8 |
| 15 | As a user, I want to be able to repay Loan/fees/penalties by using Collection Sheet Entry | 8.1 |
| 16 | As a user, I want to be able to modify loan parameters only on group loan account | 2.4 |
| 17 | As a user, I want to be able to approve new Group Loan by using 'Approve multiple loans' functionality | 10.1 |
| 18 | As a user, I want to be able to redo new Group Loan | 9.1 |
| 19 | As a user, I want to be able to reverse new Group Loan | 9.2 |
| 20 | As a user, I want to be able to attach a Question Group to new Group Loan | 11.1, 11.2, 11.3 |
| 21 | As a user, I want to be able to close loan of individual member and see updated information on group loan account | 6.1, 6.2 |
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- User opens Group Loan account details page
- User clicks on 'Apply payment' button
- User enters total payment amount
- Amount is automatically deducted according to contribution of every member in Group Loan account
- In On the next same step, user has possibility to has to edit payment amount for every member
- User clicks 'Submit' button
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- User opens Group Loan account details page
- User clicks on 'Apply payment' button
- Amount is automatically deducted according to contribution of every member in Group Loan account
- In the next same step, user has possibility to has to edit payment amount for every member
- User clicks 'Submit' button
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- User opens Group Loan account details page
- User clicks on 'Apply payment' button
- Amount is automatically deducted according to contribution of every member in Group Loan account
- In the next same step, user has possibility to has to edit payment amount for every member
- User clicks 'Submit' button
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- User opens Group Loan account details page
- User clicks on 'Apply charges' button
- User can select either fee or penalty
- Charge amount is automatically deducted according to contribution of every member in Group Loan account
- In the next step, user has possibility to has to edit charge amount for every member
- User clicks 'Submit' button
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- Group Loan account was previously created
Basic Flow
- User opens individual member group loan account details page
- User clicks on 'Apply charges' button
- User can select either fee or penalty
- User charge amount for selected individual member (other members should get amount 0)
- User clicks 'Submit' button
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- Charge is applied to individual member accounts and information about applied charges is automatically updated on Group Loan account.
- Charge applied from individual member account level can be only modified from individual member level and cannot be modified from Group Loan account level
- It is possible to add all kindes of fees/penalties (It is possible to add all kindes of fees/penalties (periodic fees, automatic penalties, one time fees etc.)
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- User opens Group Loan account details page
- User clicks on 'Apply payment' button
- Amount is automatically deducted according to contribution of every member in Group Loan account
- In the next same step, user has possibility to has to edit payment amount for every member
- User clicks 'Submit' button
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8. Use Cases - Apply transactions to new Group Loan by using Collection Sheet Data Entry
8.1 User can apply payment by using
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Collection Sheet Data Entry
Actors
- User with permission: "Can Enter Collection Sheet Data"
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- Question Group with questions has been created and assigned to close loan flow/approve loan flow/disburse loan flow
Basic Flow
- User go to starts closing/disbursing/approving new Group Loan details page
- User clicks on 'Attach a new Question Group' link
- User can select Question Group and click 'Continue' button
- User enters all necessary parameters
- Page with Question Group is displayed and it is possible to answer to all questions
- User clicks 'Submit' to create a new Group Loan.
Post-condition
- Question Group with answers can be viewed by clicking on its name under 'Question Groups' section
Validations
- Question Group has all answers added while attaching QG and it is possible to edit them if it was defined in Question Group definition.
- Question Group is not displayed for individual member accounts.
- is displayed during close loan flow/approve loan flow/disburse loan flow
Functional Requirements
FR# | Description | Comments/Mockups |
|---|---|---|
1.1 Create a New Group loan account | Create flow will be almost the same as current implementation, there will be new link on Group details page: "New Open new Group Loan applicationAccount". After creating group account also new individual account will be created for every member of group account. | |
| 1.2 Group loan account details page | Group Loan account details page will be almost the same as in current implementation. Individual schedule will show schedules from individual member accounts. | |
| 1.3 Individual member loan account details page | Individual member loan account details page will be almost the same as Client loan account details page. However, "Undo disbursal" and "Modify" tabs will 'Edit account status' and 'Edit account information' links are not available. | |
| 1.3 Client details page | There will be a new section on Client details page – 'Group Loan Accounts Overview', which will be showing individual member account details. | |
| 1.4 Modify account parameters | Parameters of Group Loan account can be modified only from Group Loan account level. There is no possibility to modify account details from individual member account level. | |
| 2. Apply payment | There will be possible to apply payment from every individual account and also from Group loan. When you try to apply payment from Group loan details page (click 'Loan repaymentApply payment'), then new page will be displayed, on which it would be possible to enter exact amount for every member. Payment amount will be applied to every individual member account and information about payment will be automatically updated on Group Loan account. | |
| 3. Apply adjustment | It will be possible to adjust payment made by individual and also whole payment made to Group Loan account. While applying adjustment, it will be possible to revert/modify amount of every individual member. | |
| 4. Apply charge | Charges could be applied to individual member account and also to the whole Group account. While applying charge, it will be possible to specify exact charge amount for every individual member. | |
| 5. Loan product | Loan product for Groups has the same options as for individual Clients. There can be some restrictions on the Group product. | |
| 6. Close Group Loan account | It is possible to close the entire Group Loan account and then also individual member loan accounts are closed. There is also possibility to close individual member loan account only and information about this is automatically updated on Group loan account. | |
| Information about transactions on Group and individual accounts should be recorded in the database. |
Standard Considerations
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