Configuring the Business Formulas

Business Formulas process different inputs from your solution in order to generate desired outputs. By inserting arguments and using them in steps, the system creates complex calculations to be triggered in a flow. The formulas can be modified and extended to fit business requirements for any financial institution.

Business Formulas

In order to inspect the SME Digital Lending and Underwriting formulas, access FintechOS Studio > Automation Blocks > Formulas and a list with all the formulas are displayed:

The FTOS_DBK_CheckEligibilityQuestions formula is used in the Eligibility step and validates the answers to the displayed questions. The input arguments for the formula are: behindTaxPayments, countyCourtJudgements, declaredBankrupt, failedBusiness, overdraftOverLimit, personalDefaults,unpaidItems.

Example of input parameters for formula:

Copy 
{
behindTaxPayments: 0,
countyCourtJudgements: 0,
declaredBankrupt: 0,
failedBusiness: 0,
overdraftOverLimit: 0,
personalDefaults: 0,
unpaidItems: 0
}

The loan application can continue only if all the answers are “No”.

NOTE  The questions available in the Eligibility step are configured in the Banking Product Questions List in FintechOS Studio. For more details, see the Configuring the Banking Product > Questions section.

The FTOS_DBK_CheckAgreementsAnswers formula is used in the Company Representatives for Application step and determines whether the applicants can continue the process depending on what they select on terms of the agreements. The solution contains six agreements whose approval logic can be altered by editing the FTOS_DBK_AgreementsAnswers formula. By default the application process can continue only if the company representative agrees with the GDPR, Information and Business Agreements. The input arguments for the formula are: gdpr, marketing, relative, information, affiliates, business.

The FTOS_DBK_QualitativeIndicators formula is used in the Company Details > Indicators > Qualitative tab to calculate the qualitative score.

The formula for calculating the qualitative score is W1*FirstImpression + W2*Shares HoldersQuality + W3*Business Practice + W4*MarketConditions+W5*HistoricalRelationShip.

The value of the weights are configurable in the FTOS_BASME_NewRequest_QualitativeIndicators data set, but for this implementation purpose is the following:

  • W1=10%

  • W2=15%

  • W3=25%

  • W4=20%

  • W5=30%

Formula Input:

Copy 
{
businessPractice:businessPractice,
historicalRelationsip:historicalRelationsip,
managementQuality:managementQuality,
marketCondifions:marketCondifions,
shareholderQUality:shareholderQUality
}