After the introduction of special terms in Winter 2019, it highlighted a need to improve facility/loan pricing management. The upcoming change will see organisations being able to manage a price book, which will be able to be applied to any facility, flowing through to the respective loans.
Features will include:
Pricing book structure
Approvals of pricing book
No changing of pricing once a facility is approved
Better transparency of the pricing structure
Ability to have default pricing
Ability to add multiple books to one facility flowing through to the appropriate loans
Application through a wizard
There will be some minor changes applied to the special terms feature to make it less prominent and relegating it back to only be used in special scenarios as the lender sees fit.