> For the complete documentation index, see [llms.txt](https://docs.xyb.co/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.xyb.co/credit/getting-started/understanding-the-credit-product-lifecycle.md).
# Understanding the Credit Product Lifecycle
A credit product moves through several distinct stages: from configuration and application intake to contract creation and lifecycle management. Each step is supported by different modules in the XYB platform. This structure allows financial institutions to define rules, manage applications, issue contracts, and handle repayments efficiently.
Below is an overview of the four main stages in the credit lifecycle.
***
#### 1. Configure Product
Define the structure, pricing, and eligibility of your credit product before it becomes available to customers.
* Specify loan amount ranges and allowed durations
* Choose interest rates, penalty logic, and applicable fees
* Set repayment schedules such as annuity or fixed principal
* Define customer segments and business sectors for availability
* Attach templates for contracts, information sheets, and disclosures
* Save as a versioned, reusable product configuration
Learn more about [how to create a new credit product](/credit/create-a-credit-contract-product.md).
***
#### 2. Originate Application
Start accepting customer applications and collecting data to assess creditworthiness.
* Accept applications via your mobile app, POS, agent interface, or partner API
* Collect details like KYC, income, requested loan amount, and personal data
* Trigger automated scoring models or manual decisioning rules
* Generate one or more offers tied to specific product versions
***
#### 3. Issue Contract
Generate a legally binding credit contract once an offer is accepted.
* Select the appropriate product version and pre-fill key values
* Calculate and generate a repayment schedule
* Enable document review and signing (digital or manual)
* Create the necessary ledger accounts and wallets
* Mark the contract as active and trigger disbursement logic
***
#### 4. Manage Lifecycle
Track and update the contract throughout its duration with automated processes.
* Accrue interest and generate periodic invoices
* Post transactions to the ledger and monitor payment behavior
* Apply penalties, trigger reminders, or escalate arrears
* Handle early repayments, closures, or write-offs when needed
***
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