Covenant

Covenants are conventions that applicants must abide by after getting the loan. This is usually applicable for corporate clients that must meet certain requirements in order to continue to receive disbursements. The Covenant dictionary is used to manage the covenant records further used in Banking Product Factory and in Core Banking.

To manage covenant records:

1. Log into Innovation Studio.
2. Click the main menu icon at the top left corner.
3. In the main menu, expand Product Factory > Banking Product Dictionaries menu.
4. Click the Covenant menu item to open the Covenants List page.
   

On the Covenants List page, you can:

• Add a new covenant record by clicking the Insert button at the top right corner of the page.
• Edit an existing covenant record by double-clicking it.
• Delete a covenant record by selecting it and clicking the Delete button at the top right corner of the page.
• Search for a specific record by filling in any of the column headers of the displayed records list.

Creating Covenants

If you want to create other records than the predefined covenant records that come out-of-the-box with the Banking Product Factory package, follow these steps:

1. In the FintechOS Portal, click the Insert button on the top right side of the Covenants List page. The Add Covenant page is displayed.

   

2. Fill in the following fields:

Field	Mandatory	Data Type	Details
Name	No	Text	Enter the name of the covenant.
Type	No	Option Set	Select the type of the covenant from the drop-down. Possible values: Affirmative, Negative, and Financial.
Description	No	Text Area	Enter the description of the covenant.

3. Click the Save and Reload button at the top right corner of the page. The new covenant is created and ready to be used.