Loan deposit service

Use cases

The loan deposit service APIs provide a comprehensive solution for automating the lifecycle of unsecured loans, including loan creation, repayment scheduling, disbursement, tracking, statement inquiries, and early settlement. These APIs enable seamless integration with core banking systems and digital channels, reducing manual tasks, improving operational efficiency, ensuring accounting accuracy, and enhancing customer transparency and experience.

1. Unsecured loan creation flow

API: POST /create-unsecured-loan

Purpose: To automate the creation of an unsecured loan account, including loan deposit and repayment schedule generation, fee posting, and fund disbursement.

Use case description:

Scenario:
A customer applies for an unsecured loan via the mobile app or at a bank branch.

System action:

• The system triggers the /create-unsecured-loan API with loan details and borrower information.
• The API performs:
  • Loan account creation.
  • Repayment schedule generation.
  • Applicable fee posting.
  • Fund disbursement into the designated account.

Outcome:

• The loan with pre-defined referenceId is created successfully.

API: POST /query-ld-api

Purpose: To track the progress and outcome of loan creation using the referenceId.

Use case description:

Scenario:
After submitting a loan creation request, the frontend system needs to check whether the loan was successfully processed.

System action:

• The system calls /query-ld-api using the referenceId.
• The API responds with:
  • LD code (loan ID).
  • Disbursed amount.
  • Fee amount
  • Clear error messages if any issues occurred.

Outcome:

• The system verifies the result of the loan creation and proceeds accordingly (e.g., displaying success to the customer or retrying in case of failure).

2. Loan statement inquiry flow

API: POST /inquiry-ld-statement

Purpose:
To retrieve comprehensive details of an unsecured loan repayment status, including due amounts, payment history, outstanding balances, penalties, and repayment timeliness.

Use case description:
A customer or internal bank user needs to access detailed loan statement information to monitor repayment progress, verify amounts paid versus amounts due, and identify any penalties or overdue payments.

System action:
The system calls the API with the loan ID as input. The API response returns detailed data such as overdue days, due dates, principal and interest due, outstanding balance, amounts actually paid, penalties applied and paid, and payment classification as on-time or late.

Outcome:
Detailed loan repayment information is returned, enabling effective customer service, internal account monitoring, and informed decision-making related to loan management.

Benefit:
Ensures transparency of loan repayment status, supports accurate customer communication, enhances operational efficiency, and facilitates loan servicing activities such as early repayment and collections.

3. Early Loan Settlement Flow

API: POST /get-ld-payment-info

Purpose: To retrieve the total outstanding amount required for early repayment.

Use case description:

Scenario:
A customer requests to settle the loan before maturity and needs to know the exact payoff amount.

System action:

• The system calls /get-ld-payment-info with the loan ID.
• The API returns:
  • Remaining principal.
  • Accrued interest, overdue and any early repayment fees.

Outcome:

• The customer is informed of the total payable amount to proceed with early settlement.

API: POST /early-payment-ld

Purpose: To initiate an early loan repayment transaction.

Use case description:

Scenario:
After confirming the early settlement amount, the customer proceeds to repay the loan.

System action:

• The system invokes /early-payment-ld with loan and payment details.
• The backend processes the request and begins the settlement process.

API: POST /result-early-pay-ld

Purpose: To check the result of the early loan repayment request.

Use case description:

Scenario:
After initiating the early payment, the system needs to confirm whether the transaction was successful.

System action:

• The system calls /result-early-pay-ld using the transaction reference.
• The API responds with:
  • Settlement result (success/failure).
  • Amount settled.
  • Prepayment date
  • Repayment account

Outcome:

• The system confirms successful loan closure.