Credit Products

Understanding Credit Product Configuration

Credit products in timveroOS define the lending conditions offered by your institution. These configurable templates establish the blueprint for loan parameters and operational requirements.

Core Product Components

According to the system design, credit products define:

• Loan duration parameters

• Interest rate structures

• Amount ranges (minimum and maximum)

• Grace period options

• Commission structures

• Contract templates

• Collateral requirements

• Other custom attributes specific to your business

Extended Product Capabilities

Beyond basic parameters, credit products can define:

Document Generation

• Credit agreement templates

• Documents whose content depends on agreement settings

• Automatic generation triggered by events or status changes

Schedule Configuration

• Amortization schedule types

• Creation timing (agreement conclusion or disbursement)

• Simple schedule or equal installment options

Process Integration

• Origination process types (offline, online, pre-approved)

• Process stages where offers generate

• Workflow trigger points

Important Architectural Considerations

Credit products serve as aggregating entities for additives. Key points to understand:

• Without active additives, credit products don't participate in origination

• Additives provide the detailed implementation of product offerings

• One product can have multiple additives for different customer segments

Version Management When editing credit products:

• System creates new versions automatically

• New versions start without active additives

• Additives must be created for the new version

• Edited versions remain inactive until properly configured

Product Configuration Process

Initial Setup Requirements

Before creating credit products, ensure these components are configured:

• Offer Engine: Pricing algorithm configuration

• Document Templates: Associated document creation

• Schedule Engine: If custom amortization is needed

• Business Process: Integration points defined

Configuration Steps

Step 1: Define Product Parameters Set the fundamental lending conditions:

• Term ranges (minimum to maximum months)

• Amount limits (floor and ceiling)

• Base interest rate structure

• Fee and commission framework

Step 2: Configure Operational Settings Establish how the product operates:

• Document requirements and templates

• Amortization calculation method

• Origination channel compatibility

• Offer generation stages

Step 3: Create Additives Implement product variations:

• Segment-specific terms

• Risk-based modifications

• Collateral requirements

• Special conditions

Product Implementation Examples

Based on the system documentation, credit products support various origination types:

Online Process Products

• Products designed for API-based origination

• Support for end-to-end automated processing

• Typically single-participant structures

Offline Process Products

• Products for in-person origination

• Support for multi-participant applications

• Manual intervention capabilities

Pre-approved Products

• System-generated for selected client pools

• Based on predefined criteria

• Automated offer generation

Configuration Management

Version Control

The system maintains complete version history:

• Track all product changes

• Compare versions side-by-side

• Rollback capabilities if needed

• Audit trail for compliance

Testing and Validation

Before deployment:

• Configure test scenarios

• Validate offer calculations

• Check document generation

• Verify process integration

Product Lifecycle

Manage products through their lifecycle:

• Active products for new origination

• Grandfathered products for existing loans

• Sunset products being phased out

• Archived products for historical reference

Integration Points

Credit products integrate with multiple system components:

Offer Engine Integration

• Links to pricing scripts

• Defines calculation parameters

• Sets offer constraints

Document System Integration

• Specifies required documents

• Links to generation templates

• Controls signature requirements

Process Integration

• Determines workflow triggers

• Sets status progressions

• Defines automation rules

Implementation Resources

Through the Admin Panel (Step 2)

Access product management through:

• Credit Products and Pricing - Complete product setup and Offer engine integration

Through the SDK (Step 1)

For specialized requirements:

• Offer Engine and Credit Products - Complete SDK guide on what's products and how to build them

• (Amortization Schedules - SDK Guide coming soon)

Best Practices

Product Design

• Start with simple configurations

• Test thoroughly before deployment

• Document all custom attributes

• Plan for future modifications

Additive Strategy

• Use additives for segmentation

• Avoid product proliferation

• Maintain clear naming conventions

• Document eligibility criteria

Maintenance Approach

• Regular review of product performance

• Systematic version management

• Clear sunset procedures

• Comprehensive documentation

Related Topics

• Additives - Detailed product variations

• Offer Engine - Pricing configuration

• Collateral Configuration - Secured product setup

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timveroOS: Flexible product configuration for modern lending