Date: 29.03.

2023
103

Classification: Internal
 Account opening process from LAS through API for Corporate/SME &
Mudra Loans with free codes w.e.f 04.03.2023

Circular: 06202-2023 8th march 2023

1. What is API?
➢ API is Application programming Interface
2. Why API is introduced into LAS?
➢ Currently, Corporate/SME & Mudra loans are processed/sanctioned from Lending
Automation Solution-LAS and account opening is done through menu LAS2FIN in
Finacle by downloading the sanction details file through a manual process. In order
to automate this process, an API is developed in Finacle for loan account opening
process. With this facility, directly API will be called from LAS and account opened
without any manual intervention.
3. What are the advantages of this API?
➢ No manual intervention like downloading file from LAS & uploading in Finacle.
➢ Account will be opened through straight through process with auto verified facility
➢ Any errors during account opening process will be displayed in LAS itself.
4. For which loans this API facility is available in LAS?
➢ Retail/ Agriculture/Tertiary/ Corporate/ SME and Mudra.
5. When is the API for corporate/ SME / Mudra loans, be available in LAS?
➢ From 01.04.2023
➢ Also, file downloading option for LAS2FIN will be discontinued from 01-04-2023
6. What is the workflow for opening account through API and verifying it?
➢ Click Workflow [Tab in loan application]-> Action -> Send to CBS/ Sanction Details
->Click ‘Account Opening Through API’ -> Loan account will be auto generated at
verified level & No needs to be verify at Branch level in Finacle.

Classification: Internal