API Console
Executive Summary
Fulfillment of loan product used in the purchase of a larger merchandise item such as a car or boat. The purchased item is typically treated as collateral for the loan
Examples of Use
Example of use:A boat retailer coordinates with a bank to offer merchandising loans to bank customers wanting to buy a boat
Role Definition
The service domain handles loan fulfillment intended for the purchase of a larger merchandise item such as a car or boat. The item is usually administered as collateral for the loan and the origination and subsequent processing of the loan can include coordination with the merchant for some elements of fulfillment.
Related Business Scenarios
EXT Disburse Merchandising LoanCore Business Object
Key Features
- Facility maintenance – fees, interest, reporting
- Payments and withdrawals, liens and sweeps
- Collateral tracking and oversight