Add an Internal Transfer Funding Record to an Account

Using the Add an Internal Transfer Funding Record to an Account action template, rule authors are able to create a funding record that automatically transfers funds from an existing deposit account allocation to a new deposit account. This template allows authors to determine the source account as well as the transfer amount.

To begin authoring this type of rule, navigate to System Management > Origination > Rules Management and click to open Rules Manager. Create a new rule using the Event Processing category and Application.AccountProduct Entity.

The Add an Internal Transfer Funding Record to an Account action template is only available for a rule written under the Application.AccountProduct Entity.

Within the If Statement, define the conditions that must be met in order for the funding record to be added. For example:

Application Approved
Application Auto Approved

When authoring the Then Statement, select the "add an Internal Transfer Record to a Account" action template. Upon selecting this template, the following vocabulary populates:

Add an Internal Transfer funding record to an Account for <enter deposit amount> where Deposit Account is <enter deposit account>

<enter deposit amount> allows rule authors to determine how much of funds should be transferred from the existing applicant account.

<enter deposit account> allows rule authors to identify the deposit account where the funds are transferred from.

Using business language, author rule logic that ensures internal transfers are handled universally among all applicants.

The example below provides a demonstration of a rule that transfers funds from the applicant's existing savings account.

After the rule is created it is assigned to an event by the Execute Rules action type within Event Processing.