Working with Contract Classification

Financial institutions may classify their contracts for organization purposes, or to mark some contracts as to belonging to a specific category or another. Core Banking brings the classifications defined at the product level to the contract level when creating a contract.

For information about the automatic loan classification performed by Core Banking based on DPD, please read the Loan Classification topic.

You can manage a contract's classification within the Contract Classifications section on the Overview tab. Here you can insert, delete or export classifications for the contract.

Adding Classifications to a Contract

  1. To add a classification to a contract, click Insert in the Contract Classifications section of a contract.

  2. On the newly displayed Add Contract Classification page, fill in the following fields:

    • Classification - Select the desired classification for the contract from the list of classifications associated with the banking product.

    • Description - Enter a description for the contract classification.

  3. Click the Save and Close button.