Creating Credit Facilities

A credit facility is a grouping of multiple credit products that a customer has arranged with a financial institution under a single credit limit.

Before creating a credit facility, make sure that:

  • the customer is recorded in Core Banking,

  • a settlement account (a current account contract for the same customer) is set up for the desired currency,

  • and the limits are configured according to Core Banking's setup.

To create a new credit facility:

After filling in all the mandatory details in the Credit Facility tab, the record is still in Draft status. Change its status to Send to Approved to send it for approval.

You can add utilizations only for credit facility records with Approved status.