Data Model Description

If you want to launch a new short-term consumer needs loan product with delayed payment that allows your customers to apply for vacation funds or funds to be used for other purposes, you can use a predefined industry standard data model for BNPL loans, such as the one available with Value-Added Marketplace Powered Lending, which you can further customize and tailor to your business needs.

The Value-Added Marketplace Powered Lending solution's data model was built based on the business entities created in FintechOS Studio. It contains both entities used throughout several solutions, defined in the Common Data Model, which covers the most important industry-specific entities and data sets referring to applications, applicants, or products, as well as extensions, which are business-specific entities needed for this accelerator's use case. The main entity holds details about the loan for consumer needs and stays at the center of the data model keeping the important business information, and a series of other entities are inter-connected in a logical manner, describing the entire business logic of the solution.

The short-term consumer needs loan that allows consumers to make purchases and pay for them at a future date is the central object of this accelerator and it is stored in the Loan entity, hereby considered the main entity of the data model. It contains detailed information about the application, the customer, the banking product opted for along with amount and currency, and the loan contract generated as a result of the application.

Each application record is linked to a series of other records from entities that hold business-relevant data. The data model stores records about the applicant who submits the loan application, their financial status, the banking products selectable for the loan, and the pricing and score decisions.

The data model contains entities designed specifically to hold data for the following:

• the loan that allows consumers to make purchases and pay for them at a future date (with details such as the application number, the customer, the banking product opted for along with financed amount and currency, or the generated loan contract);

• the actual application process (with details such as application number and date, applicant name, or banking product), the marketing activity, and the selected contract type;

• the person who applied for the retail loan, their customer information (with KYC details such as their identification information, their country of residence, contact data, and so on), and their complete address;

• the detailed financial status of a retail loan applicant, any of their existing loans, and their detailed income information;

• the information about the banking products that can be applied for;

• the documents submitted by the applicant and generated as a result of the application process;

• the detailed pricing information, along with the calculated financial result and the score decision of the application process;

• any mock information used to store the credit card information, as well as the bank account, contacts, and transactions information.

Integrate the Value-Added Marketplace Powered Lending accelerator with other providers' websites for your customers to acquire products using this type of loan. For testing purposes you can also use the pre-built dummy travel data model. This dummy data model's main entity, Trip, holds information about the customer's selected vacation, such as flight number, departure and arrival times, car rentals, travel insurance, daily pocket money, cost estimation, and so on. Each trip record is linked to a series of other records from entities that hold business-relevant data. The data model stores records about the accommodation, experiences, travel insurances, flight, and car rental options.