The main objective of this project is to create an API to manage the loan payments control system from a fintech.
The purpose of this challenge is to test your ability to implement a solution given an abstract problem. You may find a problem in the asked task that you need to explain the problem and propose a solution to fix it.
A fin-tech needs to create and manage the clients and keep track of the amount of money loaned and the missed/made payments. It also needs a place to retrieve the volume of outstanding debt at some point in time.
*If a client contracted a loan in the past and paid all without missing any payment, you can decrease by 0.02% his tax rate. *If a client contracted a loan in the past and paid all but missed until 3 monthly payments, you can increase by 0.04% his tax rate. *If a client contracted a loan in the past and paid all but missed more than 3 monthly payments or didn’t pay all the loan, you need to deny the new one.
Loans are paid back in monthly installments.
Create a client in the system.
- name: the client name.
- surname: the client surname.
- email: the client email.
- telephone: the client telephone.
- cpf: the client (Cadastro de Pessoa Física) identification.
Example of sent data
{
“name”: “Felicity”,
“surname”: “Jones”,
“email”: “felicity@gmail.com”,
“telephone”: “11984345678”,
“cpf”: “34598712387”
}
- client_id: unique id of a client.
Example of received data
{
“client_id”: 1
}
Create a loan application. Loans are automatically accepted.
- client_id: the client’s identification that contracted a loan.
- amount: loan amount in dollars.
- term: number of months that will take until the loan gets paid-off.
- rate: interest rate as decimal.
- date: when the loan was requested (origination date as an ISO 8601 string).
Example of sent data
{
“client_id”: 1,
“amount”: 1000,
“term”: 12,
“rate”: 0.05,
“date”: “2019-05-09 03:18Z”
}
- loan_id: unique id of the loan.
- instalment: monthly loan payment.
Example of received data
{
“loan_id”: “000-0000-0000-0000”
“instalment”: 85.60
}
Loan payment formula
r = rate / term
instalment = [r + r / ((1 + r) ^ term - 1)] x amount
Example:
For repaying a loan of $1000 at 5% interest for 12 months, the equation would be:
instalment = [(0.05 / 12) + (0.05 / 12) / ((1 + (0.05 / 12)) ^ 12 - 1] x 1000
instalment = 85.60
Create a record of a payment made or missed.
- payment: type of payment: made or missed.
- date: payment date.
- amount: amount of the payment made or missed in dollars.
Example of sent data (Payment made)
{
“payment”: “made”,
“date”: “2019-05-07 04:18Z”,
“amount”: 85.60
}
Example of sent data (Payment missed)
{
“payment”: “missed”,
“date”: “2019-05-07 04:18Z”,
“amount”: 85.60
}
Get the volume of outstanding debt (i.e., debt yet to be paid) at some point in time.
- date: loan balance until this date.
Example of sent data
{
“date”: “2017-09-05 02:18Z”
}
- balance: outstanding debt of loan.
Example
{
“balance”: 40
}