finPOWER Connect Advanced External Parties Add-On
The finPOWER Connect Advanced External Parties Add-On expands on the functionality of the External Parties Add-On with the addition of three key areas; Disbursements, Dealer Commissions and Business Development Managers.
Disbursements
Disbursements, or Settlements as they are sometimes referred to, cover payments made to pay out the Loan, as well as to pay costs associated with the Loan.
Disbursements may be paid directly to the client, in the case of a personal loan, to a vendor where finance is being provided for the purchase of an asset, or it may be to a number of third parties where you are offering a debt consolidation service.
Disbursements allow you to make individual payments directly to a bank account or credit an existing External Party's Account for consolidation and distribution at a later date, such as you would do with Insurance premiums.
Commissions
Commissions allow you to pay commissions to Brokers and Dealers. Various calculation methods allow you to calculate and pay commissions in accordance with your business model.
Business Development Managers
For tracking the employee in your business, i.e. the Business Development Manager, that generated the Account business.