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Hello Sunil,
The repayment logic is already adaptable, different institutions can select different logic, called Repayment Strategies. These strategies (currently 5 different ones available) control how each payment, whether early, late or on time, gets allocated to the loan. From the early days of designing the platform it was envisaged that manual adjustments would be required in this area and therefore it is made completely flexible, but still within the same codebase.
This development item just leverages this concept by adding another flavour for a client we already work with to suit their operational practices. It is up to the MFI's (or partners) using the platform whether they actively use it or not. So to address your questions more specifically:
1: We already can do different strategies, most out of the box strategies however just do different orders (between principal/interest/fees etc) not different strategies for the time of payment.
2: The logic is already configurable, but not by the end user, mainly due to the high complexity of this configuration, and the different regulations and practices in different countries and sectors (our client is an asset financer, who have different requirements than regular MFI's)
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MIFOSX-888
