The AMP Bank Serviceability and Loanapp journeys have "Scenarios" functionality that allow you to check serviceability when you make changes to the Applicant(s) situation, without changing the actual applicant data.
Where can I use scenarios?
You can use the Scenarios functionality in the Serviceability outcome screen of both the Serviceability Journey and the Loanapp Journey:
Why would I use Scenarios?
You would use Scenarios to check how a tweak of the applicant(s) data would change the serviceability outcome. eg you might:
remove a liability like a credit card
change the loan amount
add some income that you think is justified in being added
Using scenarios does NOT change the data you have added to the Serviceability or Loanapp journey. So its a great way to see how the outcomes will change, without actually messing with your data.
You are able to create a number of different scenarios, and have a number of different outcomes. If you land on a version that you want to use in your submission, you are able to
How do I use Scenarios?
When you have generated serviceability, you are able to click "Add new" in the scenarios section to add a new scenario.
Add New presents me with all the data in my original record that could be altered to make a difference to Serviceability:
A closer look at this section shows that I have been presented with the following that I can alter:
the loan amount I have entered
the income record(s) for my applicants
the total living expenses
by expanding the section to edit individual categories:
the liabilities of your applicants.
Working Example
In the following screenshot, I have got a negative NMS in my original outcome - and I want to make some adjustments to see what will service:
In my new scenario (1), I have reduced the loan amount. If I then click SAVE, this will re-calculate serviceability (I have an updated NMS) and set my Scenario (1):
Next I want to try a new Scenario (2) where I reduce the loan amount again; but also plan to consolidate/payout the Personal Loan. To do this, I click Add New again and make the adjustments to my Loan Amount and Personal Loan entry:
When I click Save, Serviceability will again calculate for my Scenario (2):
NMS is looking better. I can continue make adjustments to get the scenario that is suitable for the applicant(s). As I create scenarios, you can go back to any of them by using the Scenarios drop down:
Can I select a scenario to be my final data?
Current functionality is that the Scenarios are a convenient way to tweak and see outcomes...but they will NOT change your application record.
If you want a Scenario to be the final application data - you will need to go back into the application record proper and make the same updates there.
*(Selecting a Scenario to proceed with is coming soon)
Where I promote from Serviceability to Loanapp - will my scenarios also go across?
Yes - where you promote from Serviceability journey to Loanapp - your scenarios will also be converted to the full application.
Can I delete scenarios from my application record?
Yes - if you want to delete scenarios, select the scenario you want to delete and use the 'bin' icon to delete the whole scenario:
Can I edit an existing scenario?
Yes - if you want to delete scenarios, select the scenario you want to edit and use the 'edit' control. When you have finished your editing, click SAVE to re-calculate the new serviceability for that Scenario:
