Offer Request

warning

Required Feature

Incoming call to lenders system. Lenders must be able to receive data (format and values will be agreed), and make a loan decision on the basis of this offer request. The response returned should have one of the two different responses are described below.

Please note that a response to the loan offer request is required. Avica Group needs to know whether the lender is interested in giving an offer, within a reasonable time in order to close the process and present any offers to the customer (or inform that no offers could be given). This means that a response, with offer acceptance or rejection will have to be received within a short time span - preferably within 30 seconds.

Important here is that no CreditProvider Score check leaves a mark on the user at this stage.

Example Request

All values collected in the form on https://myloan.co.za/application are available to send but only what are needed to be able to make a decision. No contact information will be shared. Here is a simplified example of offer values that could be included in the offer request. Fields/values, format and structure can be customized to fit your system. Document with all fields will be shared later in the process.

{
    "status": "REQUEST",
    "applicationId": "46817892",
    "amount": 15000,    
    "customer": {        
        "incomeNetMonthly": 7200,
        "said": "99999999999"
    }    
}

Example Responses

Default expected data are as follows: If you have another format/fieldnames we can customize to fit your response.

Rejected

Customer loan data did not live up to the desired criteria for granting a preliminary loan offer. Lender refused to give an offer, and nothing more will happen with this customer's application.

{
	"status": "REJECTED",
	"reason": "Declined because of soft score",
	"applicationId": "46817892"
}

Approved

Lender is interested in giving an offer to the customer based on the loan offer request, then the loan will need to be created as a preliminary loan in the lenders system, and the loan data have to be in the response, in order to present the offer to the customer. In case the loan offer is accepted by the customer at a later stage, the information given about the loan, has to be the actual loan data/agreement that the customer will be able to sign and have paid out. The CreditLimit is an optional info if you are willing to lend the customer even more than there we requested. Then we can display the option to the user and later in the flow the user should be able to choose the higher amount.

Name	Description	Format	Example	Mandatory
Status	Fixed value to state what type of status this is about	String	"APPROVED"	Required
Reference for customer	Identifier for offer or customer. Needs to be agreed. Unique application ID is preferred	String value	"46817892"	Required
Amount	Granted loan amount in RND currency. No decimals allowed	Integer	15000	Required
Repayment period	Loan tenor in number of months	Integer	36	Required
Nominal interest rate %	Interest rate for the loan in percent	Decimal	29.99	Required
Monthly cost (total)	Total monthly payment on loan. This must include all costs and fees for the loan	Decimal	326.45	Required
Monthly administration fee	Handling fee. Must be included in the field "Monthly cost (total)"	Decimal	49.99	Optional
Monthly invoice fee	Fee for sending the invoice. Must be included in the field "Monthly cost (total)"	Decimal	28.50	Optional
Monthly insurance fee	Insurance cost, if any kind of insurance is included in the loan. Must be included in the field "Monthly cost (total)"	Decimal	129.25	Optional
Setup fee	One-time fee for creating the loan	Decimal	25000.00	Optional
CreditLimit	If you are willing to lend the customer even more than requested	Decimal	2725.95	Optional
Continuation URL	URL to the lender's system for the customer to complete the loan process (after having accepted the loan)	URL as string	https://www.yourbankname.co.za/sign-loan-agreement/46817892	Optional

Response of offer data returned

{
    "status": "APPROVED",
    "applicationId": "46817892",
    "amount": 15000,
    "repaymentPeriodMonths": 36,
    "nominalInterestRate": 29.99,
    "monthlyCostTotal": 326.45,
    "administrationFee": 49.99,
    "invoiceFee": 28.5,
    "insuranceFee": 129.25,
	"setupFee": 2725.95,
	"creditLimit": 25000.00,
    "continuationUrl": "https:\/\/www.yourbankname.co.za\/sign-loan-agreement\/46817892"
}