This module will not be further enhanced. Support is limited to defect fixing only.

Introduction to Collateral

This module provides capabilities for automatically delinking collateral when loan is closed.

Automatically Delink the Collateral when Liabilities End

In Financial Institutions, if a loan contract has been closed or any collateral attached to a loan is expired, banks can view those collateral records and update the document status of the collateral using this functionality.

The following items have been introduced as part of this functionality:

• The COLLATERAL,DOC.STATUS version is used to record the details of collateral submitted by a customer, its value(s), to update the status of the collateral related document collected from the customer and, optionally, to link it directly to a customer's supporting deal elsewhere in the system.
• The COLLAT.EXPIRY.DOC.STATUS enquiry allows users to view all the expired collateral records and to change the status of the collateral document for the expired collateral records.
• The Document Status field is added to the COLLATERAL.TYPE application to configure the default document status value for the collateral type.
• A generic API is provided to configure it in the loan product against the loan closure activity to update the collateral expiry date and delink the collateral when the activity is triggered.