Finastra Senior Business Consultant Interview Questions, Process, and Tips

Banks treat accounting entries for activities like principal repayment, interest dues, write-off, past dues by recording them in their financial statements.

• Principal repayment is recorded as a decrease in the loan receivable account and a decrease in the cash account.

• Interest dues are recorded as an increase in the interest income account and an increase in the interest receivable account.

• Write-offs are recorded as a d...read more

Revolving credit allows you to borrow up to a certain limit and repay it in full or in part, while non-revolving credit is a one-time loan with a fixed repayment schedule.

• Revolving credit has a credit limit that can be used repeatedly, like a credit card.

• Non-revolving credit is a one-time loan with a fixed repayment schedule, like a car loan.

• Revolving credit allows flexibility in borrowing and repaying, while non-revol

The initial stages of CBS implementation involve planning, analysis, design, development, testing, and deployment.

• Planning phase involves defining project scope, objectives, and requirements.

• Analysis phase includes assessing current systems and processes to identify areas for improvement.

• Design phase focuses on creating a blueprint for the new CBS system.

• Development phase involves building the system based on the desig...read more

End-to-end implementation of CBS for Loans module

• Analyze current loan processes and requirements

• Design CBS system configuration for loan products

• Develop and test loan module functionalities

• Integrate CBS with existing systems for loan processing

• Train users on new CBS loan module

• Monitor and optimize CBS loan module performance