TF Gov Schemes
The purpose of this document is to describe how the Government Schemes will be represented in Salesforce.
Problem Description
Due to the crisis Covid-19 has brought, several countries are offering guarantees on loans to SMEs to help them through the pandemic. Ebury has been accepted onto four schemes in the following countries, three of which apply to our existing TF lending product, with another requiring a term loan to be developed:
- Spain - 80% guarantee (TF)
- UK - 80% guarantee (TF)
- Italy - 90% guarantee (Term Loan)
- Netherlands - 68% guarantee (TF)
We need to be able to track the information regarding these schemes: request, application, approval and line utilization. We also need to make this same information available to the Client, through our online platform (EBO).
Background
Ebury applied to become a Financial Institution to be able to provide these short term types of loans to SMEs. We had to move fast as there were application deadlines and competitors such as banks already offering this to their customers. Each country has their requirements and approach but it is something with reduced risk that we are able to offer to attract clients and make further revenue on FX at a later stage.
At present in Salesforce, we support a single lending product, TF, and a single credit line, TF Line. Once the TF Line is approved, the Client can book trades against that TF Line.
On the Account object we have (this represents the standard TF line):
| Field | Description |
|---|---|
| Line Approved | Set by Risk on TF Qualification. |
| Line Used | = SUM (Trade.Amount to Withdraw (Client Currency)) IF Trade Status NOT EQUALS Rejected, Case Closed, Legal |
| Line Left | = Line Approved - Line Used |
On the Trade object we have:
| Field | Description |
|---|---|
| Line Used | = Account.Line Used |
| Line Left | = Account.Line Left |
| COVID Line Used | = Government Scheme.Line Used |
| COVID Line Left | = Government Scheme.Line Left |
Solution
We are introducing a new sObject to represent a government scheme (hence forward the object will be referred to a gov scheme) that can be associated to a client Account. This scheme is a different type of credit line (different from the standard TF Line provided by Ebury) and this is guaranteed by the Government.
Government Scheme (object)
The following table depicts how the new object is structured and the purpose of each field/attribute:
| Object | |
|---|---|
| Name | COVID GOV Scheme |
| API Name | Government_Scheme__c |
| Description | Used for tracking of Government Financial Support Schemes for Ebury Lending (mainly COVID-19 related). |
| Fields | |||
|---|---|---|---|
| Name | API Name | Type | Description |
| Scheme Number | Name | Auto Number | |
| Name | Name__c | Picklist | The Name of the scheme. Values: Netherlands - BMKB-C, Spain - ICO, UK - CBILS, Italy - Sace |
| Type | Type__c | Picklist | The type of scheme. Values: Lending |
| Client | Client__c | Master-Detail (Account) | The client Account the scheme is associated with. |
| Guarantee % | Guarantee_Percentage__c | Percentage(3,2) | The percentage amount covered by the Government for Ebury (max 80%). |
| Guarantee Amount | Guarantee_Amount__c | Number(16,2) | The amount covered by the Government for Ebury (max 80%). |
| Guarantee Currency | Guarantee_Currency__c | Lookup(Currency__c) | The respective currency of the amount that is being lended. |
| Line Amount Approved | Line_Amount_Approved__c | Number(16,2) | The loan amount. |
| Line Amount Used | Line_Amount_Used__c | Number(16,2) | The loan amount used. |
| Line Amount Left | Line_Amount_Left__c | Formula (Number) | The loan amount left. |
| Line Currency | Line_Currency__c | Lookup(Currency__c) | The loan currency. |
| Status | Status__c | Picklist | The status of the scheme. Values: Requested, Application Made, Application Approved, Application Rejected, Cancelled |
| Activation Date | Activation_Date__c | Date | The date from which the scheme is active. |
| End Date | End_Date__c | Date | The date from which the scheme is expired. |
Diagram
The following diagram shows how the data model will look like.
On the Gov Scheme object we will have:
| Field | Description |
|---|---|
| Guarantee % | Set by Risk; default for the scheme. |
| Guarantee Amount | Set by Risk; default for the scheme. |
| Line Approved | Set by Risk |
| Line Used | = SUM (Trade.<strong>Amount to Withdraw (Client Currency)</strong>) IF Trade Status <strong>NOT EQUALS</strong> Rejected, Case Closed, Legal |
| Line Left | = Line Amount Approved - Line Amount Used |
How does this work?
- Sales submits a request for a Gov Scheme for a Client; if it is a new Client, the scheme will be reviewed under the current TF Qualification flow;
- The actual application for the scheme is managed outside of Salesforce, - managed in the appropriate Government platform of that scheme - but the Gov Scheme record is created by Risk under the Client account and updated accordingly as it goes through the application;
- The client Account should not have more than a single Gov Scheme record associated;
- The Client will have visibility, on Ebury Online Platform (EBO), over their current credit lines: TF Line (standard) and/or Gov Scheme;
- The Client will be able to book trades, from EBO, and choose which credit line to associate each trade with: TF Line (standard) and/or Gov Scheme.
Alternatives
N/A
Caveats
In light of the current situation and the urgency of the business in getting the Gov Schemes out of the door, the approach was to implement a solution that could cater for the business needs in a short term. To reduce development work, parts of the process will need to be carried out manually and there are still some gaps/unknowns on the requirements.
Operation
The process and the Gov Schemes will be managed by the TF Risk team; they will be responsible for evaluating the eligibility of the Client for a Gov Scheme and for making the application. The application is carried out in the designated Government platform for the Scheme and the Gov Scheme record is updated with the relevant details in Salesforce.
Sales, as the client facing team, will be responsible for putting forward the requests for application for Gov Schemes on behalf of the Client, through Salesforce.
EBO will retrieve the Gov Scheme from Salesforce and expose it in the client account page (separate tab). The Client will be creating trades through EBO, choosing to associate with the standard TF Line and/or the Gov Scheme.
Security Impact
N/A
Performance Impact
N/A
Developer Impact
N/A
Data Consumer Impact
We are introducing a new object which will be used to keep new information, so this impacts the data structure. Also, this will impact internal users (Sales, TF Risk) and external systems/users (EBO/Clients).
Deployment
N/A
Dependencies
The implementation will affect Online Team since a part of this involves development work on EBO to expose the credit lines for Client and to allow the Client to book trades against them.
Third party Government systems to acknowledge the applications.