As part of your Loanapp configuration, your Products Engine will be configured with the products you are making available for mortgage applications.
This Products Engine configuration is then tied to your Loanapp Journey; for selection by the Loanapp user as part of the application submission.
If your Products Team or Simpology have made changes to your Products Configuration, you are able to review the configuration either on-screen in the Engine Interface; or via a downloaded Products Collection output.
Where can I find the Products Engine?
The Products Engine will only be accessible by those members of your organisation that have the correct Permissions (ie you can control who can view and/or edit your Products Engine).
The Products Engine is found in Solutions/Loan Data/Product.
When you land in the Products Engine, you will be presented with the following screen:
The Top Section allows you to build, navigate and filter certain collections, groups or even individual products. You will see in this following simple example, there are two products that have been built in the
Collection: Home Lending
Group: Owner Occupied
Subgroup: Principle & interest
Products: Plus Variable & Plus Fixed
2. The next section is where you configure the overall Setup of the Product itself, such as name and code, and elements of rate composition such as Base or Reference rates, Reversion rates and Benchmark Rates:
3. The final section allows you to configure Product features, fees, rates, specifications and related documents. You are able to expand all of these sections to review and edit the configuration for the product eg:
How to check your Products configuration
While you can check the configuration by reviewing each product via the user interface, the easier way to check the entire configuration is to download the collection and check it in excel.
How to download your collection
To download an excel version of your collection, go to the Products Engine and click the "Export" button:
This will give you a number of options to download. The two main reports that are useful are:
the best report for simply checking interest rates against each product/variation is "Export summary by collection"
For the full collection configuration, select the final option "Export product data by collection". This will download ALL configuration per product, presented on individual worksheets
The report will download in a few seconds and you are then able to open or Save.
Export Summary By Collection
This is the best report to simply check your Products, Variations and Interest Rate per Variation. The Downloaded report is basically the output of your Rate Grid:
All products/product variations and their Rate to Borrower are presented on the one worksheet and you can easily run your eye over the configuration to check interest rates.
Export Product Data By Collection
This is a download of the full configuration of each product, listing everything you have configured - features, fees,
Because there is so much data, this report generates an excel with each product on its own Worksheet:
You can click through to each Worksheet to give each Product and its current configuration a review.
How do I update Products if they are not correct?
You have two options for updating products configurations:
Simpology makes change on your behalf: Please post a message on Jira for the PASAAS team to update your product config with details of change. Simpology will implement the change and invite you to re-review via the interface or a fresh collection download.
Self-management:if you are confident to make change to the configuration yourself, you can do so by creating a new draft, making your changes, and releasing the new draft.