Hi there
We are working with an MFI in the community that has the need of
re-calculation of interest based on what's been paid by the user and I
am wondering if anyone else has encountered this and if there is a
workaround?
Basically, they need to recalculate interest on loans on a daily basis
so that if somebody pays back early it adjust the amount down and if
somebody pays back later it goes up. Basically the interest would be
re-calculated daily so if they make an early payment, this interest
they're paying on should have decreased. They are planning to use
mobile payments and will not have payments coupled to meeting schedules.
The business reason is they want to reward clients who are paying back
early.
Thanks!
Kay
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