How to Create the Nordic Revolving Credit Product

Learn how to configure the Nordic Revolving Credit Line product in the XYB platform. This credit line product combines flexible drawdowns with structured repayment, ideal for regulated markets such as Denmark and other Nordic countries.

Once configured, this product becomes usable by operations teams to launch customer-specific credit contracts, automate invoicing, and manage repayments.

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1: Navigate to Product Configuration

From the Console UI:

• Go to Product configuration > Products

• Click + New Product

• Click + New Draft

• Add the Credit Contract Service

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2: Configure General Specifications

Set the foundational rules for the product. These settings apply across all contracts using this product template.

Field	Description
Currency	Select the operating currency (e.g., DKK)
Country	Legal jurisdiction (e.g., Estonia)
Group	Set as CREDIT_LINE
Type	Choose NORDIC_REVOLVING_CREDIT
Subcontract amortisation period	Duration (in months) for repayment of each drawdown (e.g., 60)
Minimum monthly payment amount	Minimum required payment (e.g., 250)
Minimum withdrawal amount	Minimum allowed drawdown (e.g., 1,500)
Max effective interest rate	Regulatory cap for APR (e.g., 25)
Payment term days	Days before invoice due (e.g., 7)
Invoice payment term date	Payment deadline from invoice issuance (e.g., 7)
Interest invoice amount min/max	Thresholds for invoicing interest (e.g., 0 to 0)

3: Configure Credit Line Fees

You can configure payout fees using tiered fee pricing based on the disbursed amount.

Each tier defines:

• Balance From / To: Amount range

• Fee Amount: Fixed amount charged

• Fee Type: Choose ON_CONTRACT_PAYOUT

• Calculation Method: Choose FIXED_AMOUNT

• Fee List Type: TIERED

Example Tiers:

Tier	Balance From	Balance To	Fee Amount (DKK)
1	1,500	3,000	49
2	3,000.01	5,000	49

You can add as many tiers as needed and optionally configure:

• Fee default/min/max value

• “Add to Principal” toggle – whether to capitalize the fee into the contract

4: Define Interest Terms

The product can support multiple interest types such as:

Interest Type	Value	Min/Max	Variable Rate	Day Count	Booking Period
Standard	15.6	10 / 20.9	DKK_FIXED	ACT_360	DAILY
Penalty	25	25 / 25	DKK_FIXED	ACT_360	DAILY
Commitment	0	0 / 0	DKK_FIXED	ACT_360	DAILY

Other options:

• Penalty affected balances: e.g., FEE_DEBT, PRINCIPAL_DEBT

• Interest payment frequency: DAILY, MONTHLY, etc.

You must configure the related interest rate types globally before they can be used here.

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5: Set Product Attributes

Attributes define flexible parameters passed into the credit contract. You can define ranges and defaults for:

• APR Max Percentage: e.g., 30%

• Agreement Length (months): Default: 60, Min: 12, Max: 600

• Amount:

  • Default: 25,000

  • Min: 5,000

  • Max: 30,000

  • Step: 1

These settings help constrain what can be entered when issuing customer contracts.

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6: Link Contract Templates

From the Templates section:

• Select contract lifecycle templates that will govern contract creation, repayment logic, and closure.

This enables product-level automation through predefined contract event flows.

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7: Review and Save

Once your configuration is complete:

• Review all sections for completeness and accuracy

• Click Save

• The Nordic Revolving Credit product is now ready to be used in contract issuance

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Example Use Case

A customer in Denmark draws down 3,500 DKK. Based on tiered fees, they are charged 49 DKK, interest is calculated daily, and their sub-contract is automatically amortized over 60 months with a minimum monthly payment of 250 DKK.

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