Add an Account Product Deposit Funding Record to a Loan

Using the Add an Account Product Deposit Funding Record to a Loan action template, rule authors are able to create a funding record that automatically allocates loan proceeds to a new deposit account.

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.

Within the If Statement, define the conditions which 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 Account Product Deposit Funding Record to a Loan" action template. Upon selecting this template, the following vocabulary populates:

Add an Account Product Deposit funding record to a Loan for <enter deposit amount> where New Account Product is <enter account product>

<enter deposit amount> allows rule authors to determine how much of the loan proceeds should be deposited in the selected applicant asset.
<enter account product> allows rule authors to identify the new deposit account where the loan proceeds are to be deposited.

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 allocates loan proceeds to 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.