The Servicing module comprises all of the operational and transactional aspects of your business activities that occur from the time the contract has been funded, or released if collection only, throughout the entire loan and/or lease life cycle until termination.
Ryznware™ Loan or Lease solutions incorporate a detailed transaction ledger for all transactions including reversals. Data is maintained and stored at its lowest possible level and is tracked by posting date, system date, user, transaction type and amount category, always ensuring a complete audit trail as well as accessibility.
Servicing transactions include:
✓ Payment and Charge Receipts (partials, fees only, subsidized, credits)
✓ Optional Late Fees
✓ Administrative and Custom Fees
✓ Cash in Suspense
✓ Optional Daily Accrual Runs (Interest, Late Fees, Sales Taxes)
✓ Waive of Fees with reason code tracking
✓ Contract Restructuring
✓ Contract Termination and Disposal
✓ Reversals and roll-backs