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Understanding Light and Advanced Mode

The Credit Products can be defined All the settings described below a

Light Mode

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In the Light mode, it is possible to create credit products with the most common settings in the industry. This is a simple and nice way to start:  

General characteristics:

• Set of pre-defined loan type templates (annuity, classic, payday, flat interest, bullet)

• Set of typical repayment periods (monthly, semimonthly, weekly, biweekly)

• Set of pre-defined fee templates (administration fee, origination fee, past-due interest, late fee, NSF fee)

• Pre-defined and hidden general settings  

Advanced mode

The Advanced mode doesn't have any predefined templates but instead provides flexibility to create an enormous number of different credit products.   is Ideal for creating credit products using best practices and common industry settings, ensuring simplicity and efficiency.

Advanced Mode: Offers extensive flexibility to design a wide range of credit products without predefined templates. Due to its extensive flexibility, it's recommended that only TurnKey Lender support and implementation teams use this mode, as improper settings can significantly disrupt the system.

The following articles will describe work in the Basic Mode only

Basic Actions with Credit Products

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