Approving a Current Account

You can perform the approval either from a customer journey flow via API integration or from the Loan Management user interface.

After defining the relevant details of the contract, proceed to contract approval:

  1. Select a contract in Draft (or Version Draft) status.

  2. Change its status into Approved.

  3. Click Yes to confirm your action.


If Loan Management performs all the validations successfully, then the current status of the contract changes to Approved and Loan Management automatically generates the current account number, displaying it in the Main Bank Account field.

Automated Actions After Contract Approval

The Main Bank Account is created automatically for the bank defined as Main within the Loan Management Operational > Bank menu. In order for Loan Management to generate an account number, a rule must be defined during the implementation phase (example: branch code + incremental sequence number).

On the Payments tab you can see the repayment schedule that was generated based on the commissions with Commission Undrawn Amount (overdraft) type, if any.

NOTE  The tab Payments has no information to display while the contract is in the Draft status. You must approve the contract to perform any contract event. Meaningful payment information is displayed in this tab only after performing transactions on the contract.