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            Use Case Example Pricing for Digital Lending

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            Use Case Example Pricing for Digital Lending

            Learn how to generate loan offers for borrowers and apply price discounts to products. This includes reviewing a customer scenario for a personal loan application and understanding the setup process.

            Required Editions

            Available in: Lightning Experience

            Available in: Professional, Enterprise, and Unlimited Editions

            Product Configurator enables you to customize loan product pricing attributes that are dynamically adjusted to display real-time loan offers to applicants. Arrange procedure elements to transform your loan price policies into pricing procedures that calculate the final net price of a loan product.

            Example
            Example

            Dynamically make adjustments to the list rate of the personal loan product when the applicant’s credit store is between 701 and 800.

            Create a personal loan product list rate record that stores the base interest rate of the personal loan as a percentage. Create a Rate Adjustment By Credit Score custom object that shows the adjustments to list rates based on the client’s credit score. Then create the records, such as when the applicant’s credit store is between 701 and 800, adjust the list rate of the personal loan product by 10%.

            Next, create a product list rate decision table that determines the list rate percentage based on the product ID and a credit score based adjustment decision table that determines the tier type and tier value based on the product ID. Then add the decision tables to the NGPDefaultRecipe pricing recipe.

            Finally, create a credit score attribute definition that represents the relationship between the product and attributes, and then assign it to the personal loan product classification. You can also hide the credit score attribute so that an applicant can't input a credit score value. The applicant's credit score is retrieved from the party credit profile object on the DigitalLendingProductConfigurator Omniscript.

             
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