Loan Origination & Approvals

Nucleus provides an automated credit engine supporting reducing balance, flat, and declining balance amortisation schedules.

 Loan Officer          Credit Bureau / KYC         Branch Manager             Head Office
   (Maker)                   (Checks)                 (Checker)              (Escalation)
      │                         │                         │                        │
      ├───── 1. Originate ─────►│                         │                        │
      │      Application        ├──── 2. Verify DSR ─────►│                        │
      │                         │        & Bureau         ├─ 3. Approve (<= Limit) ┤
      │                         │                         │                        │
      │                         │                         ├── 4. Escalate (>Limit)►┤
      │                         │                         │                        │
      │◄────────────────────────┴─────────────────────────┴──── 5. Disburse ───────┤

1. Origination & Credit Appraisal (Maker)

The Loan Officer (Role 320003) originates the credit facility:

POST /nucleus/api/v1/loans?tenantIdentifier=pilot-mfb
Content-Type: application/json

{
  "clientId": 3,
  "productId": 1,
  "principal": 500000.00,
  "loanTermFrequency": 12,
  "loanTermFrequencyType": 2,
  "numberOfRepayments": 12,
  "repaymentEvery": 1,
  "repaymentFrequencyType": 2,
  "interestRatePerPeriod": 3.0,
  "amortizationType": 1,
  "interestType": 0,
  "interestCalculationPeriodType": 1,
  "transactionProcessingStrategyCode": "mifos-standard-strategy",
  "expectedDisbursementDate": "15 September 2026",
  "submittedOnDate": "12 September 2026",
  "dateFormat": "dd MMMM yyyy",
  "locale": "en"
}

2. Who Configures the Flow in the Bank?

Flow Architect: The System Access Control Admin (Role 320017) and Bank Admin (Role 320009) define the bank’s organogram and departmental tiers.
Approval Policy: Configured under Approval Policies (/approval-policies) by the Head of Operations (Role 320011).
- Example: Loans up to ₦1,000,000 are approved by the Branch Manager.
- Loans between ₦1,000,001 and ₦5,000,000 require Branch Manager + Head Office Credit Risk.
- Loans exceeding ₦5,000,000 require the Executive Credit Committee / MD & CEO.

3. Can Head Office Approve Loans?

Yes. When a loan exceeds the branch’s discretionary approval limit, it is placed in an escalation queue for Head Office approvers:

POST /nucleus/api/v1/loans/1?command=approve&tenantIdentifier=pilot-mfb
Content-Type: application/json

{
  "approvedOnDate": "12 September 2026",
  "approvedLoanAmount": 500000.00,
  "expectedDisbursementDate": "15 September 2026",
  "note": "Approved by Head Office Credit Committee after verifying CRC report.",
  "dateFormat": "dd MMMM yyyy",
  "locale": "en"
}

4. Disbursement

Disbursement credits the borrower’s operating savings account and automatically creates balanced General Ledger journal entries (Debit: Loans Receivable, Credit: Customer Savings / Vault):

POST /nucleus/api/v1/loans/1?command=disburse&tenantIdentifier=pilot-mfb
Content-Type: application/json

{
  "actualDisbursementDate": "15 September 2026",
  "dateFormat": "dd MMMM yyyy",
  "locale": "en"
}

5. Delinquency & Recovery

If repayments are missed:

Aging buckets (1–30, 31–60, 61–90, 90+ days) update automatically.
The facility is flagged to the Recovery Officer (Role 320016) for collections and legal recovery.

Overview

Digital Banking & Mobile APIs

Core Banking Workflows

Infrastructure & Operations

1. Origination & Credit Appraisal (Maker)

2. Who Configures the Flow in the Bank?

3. Can Head Office Approve Loans?

4. Disbursement

5. Delinquency & Recovery

​1. Origination & Credit Appraisal (Maker)

​2. Who Configures the Flow in the Bank?

​3. Can Head Office Approve Loans?

​4. Disbursement

​5. Delinquency & Recovery

1. Origination & Credit Appraisal (Maker)

2. Who Configures the Flow in the Bank?

3. Can Head Office Approve Loans?

4. Disbursement

5. Delinquency & Recovery