Manage Entities for Credit Products
Before setting up credit products, it’s essential to configure the Entity Service, as all credit-related operations rely on entity records (customers, partners, owners, etc.). This configuration defines how entities are categorized, what data is required, and ensures compatibility with the overall credit ecosystem.
1. Sectors and Segments
These define how businesses or individuals are categorized and are commonly used in eligibility, pricing, or risk logic.
Sector: Broad classification for regulatory or reporting needs
Examples: Technology, Agriculture
Segment: Commercial classification used in pricing/offers
Examples: SME, Private Banking
These tags will later be used in product rules and decisioning logic.
2. Custom Fields
Use custom fields to capture additional metadata required for decisioning, regulatory checks, or underwriting.
Example Custom Field:
Name: Legal proceeding status
Code: LGL_PRCDNG_STTUS
Type: String
Is Required: Yes
Values:
No legal actions taken
Under judicial administration
Bankruptcy / insolvency
These fields are often referenced by credit decisioning engines and must be filled in accurately during entity creation.
3. Supported Currencies
Entities should only transact in currencies that are enabled across the credit product platform. Align these with the Product Configuration Service.
Tip: Ensure that the currencies assigned to entities (e.g. EUR, USD) match those used in credit products, contracts, and repayments.
Once the Entity Service is configured, you can begin creating entities via the UI. These serve as the foundational identity layer for credit products and contracts.
Step-by-Step: Creating a Customer Entity
Required Fields:
First Name, Last Name
Personal ID (e.g. National ID, SSN)
Date of Birth
Sector and Segment (configured earlier)
Phone (with prefix)
Email
Example:
Name: Maria Jõe
ID: 37202010001
Sector: Public Sector
Segment: Regular
Phone: +3725012345
Email: [email protected]
Creating Business, Partner, or Owner Entities
These roles are used for organizations or legal entities involved in credit flows (e.g. branches, lenders, UBOs).
Required Fields:
Business Name
Registration Number
Registration Date
Legal Form
VAT Number (optional)
Sector and Segment
Phone and Email
Example for Partner:
Business Name: Baltic Credit Partners
Registration No.: 12345678
Date: 2020-06-01
Legal Form: Ltd.
Sector: Credit Institutions
Segment: Private Banking
Phone: +3725011111
Email: [email protected]
Best Practices
Create entities before credit contracts: contracts require entity linkage.
Validate required fields: incomplete data causes downstream failures.
Match entity roles correctly: don’t reuse customers as partners.
Maintain clean data: consistent formatting for dates, IDs, and contact info.
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