Set Up Data Structure

Implement a unique data structure to customize the platform for your company.

Overview

DigiFi's platform is built to handle highly flexible data structures that each company can customize to meet their own needs. DigiFi includes a set of Standard Variables and the ability to create unlimited Custom Variables for use throughout the platform.

Variables are used throughout the DigiFi platform for a wide range of purposes, including to:

  • Determine which information you want to store for each of your lending products.
  • Create custom views for applications, borrowers and intermediaries.
  • Create automated decisioning rules for underwriting, verification and other lending processes.
  • Implement rules-based loan origination workflows.
  • Connect to external data sources.
  • Define the structure of API requests and responses between other systems and the DigiFi platform.

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Create Your Data Structure First

Given the key role Variables play in the system, it is recommended that you create your Varaibles before configuring other parts of the platform. However, Variables can be added at any time and, once added, are immediately useable through the interface and the API.


Introducing Variables

Variables store your data and are a core building block of DigiFi's platform.

Setting up variables allows you to determine:

  1. What data is available for use in the Loan Origination System and Decision Engine.
  2. How your data is named.
  3. How your data is stored (for example, as a number or string).
  4. How your data is formatted when displayed in the platform (for example, as a percentage).

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Permissions Required

Only users with Owner-level or Admin-level permissions can add, remove or manage Variables.


Standard vs. Custom Variables

DigiFi's platform includes both Standard Variables, which are built-in, and Custom Variables, which are user-defined.

Variable Type

Purpose

Limitations

Standard Variables

Variables that are defined by DigiFi and automatically included with the platform.

These are items like Borrower Name and Loan Amount.

Standard Variables are used in pre-defined areas of the platform.

Standard Variables can only be modified in specific ways related to display format. Standard Variables cannot be removed.

Custom Variables

Variables that are defined by the user to customize the data structure.

Custom Variables are highly flexible and can be added to configurable views throughout the platform.

No limitations.


Variable Properties

Variables contain the following properties:

Property

Description

Example

Display Name

Text that will be displayed to users viewing the Variable through DigiFi's user interface.

Loan Amount

System Name

Used to reference a variable when making API requests to DigiFi's system from other systems.

loan_amount

Data Type

Determines how the data will be saved as well as the formatting that will be automatically added when users view this Variable in the platform.

Monetary

Data Sub-Type

For certain Data Types, allows you to add additional formatting specificity.

$

Variable Type

Either Standard or Custom, depending whether it is a system-defined Variable or user-defined Variable.

Standard

Description

An optional Variable description.

This is the loan amount

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International Format Support

For data types that vary by geography, such as monetary information or phone numbers, DigiFi's system supports country-specific formatting to allow your users to see information in the most convenient way.


Variable Data Types

Data types govern how data is stored, accessed and displayed in the system. DigiFi's platform provides a flexible range of options to enable significant flexibility when configuring loan products or decision processes.

  • Number: The data type of Number is for simple numerical data, including integers and decimals. It saves data in Number format in the database, and displays it as shown below in the user interface.
  • Monetary: The data type of Monetary is for numerical data that should be displayed in monetary format. It saves data in Number format in the database, and displays it as shown below in the user interface. Monetary Variables also include a Monetary Format, which allows you to select your preferred currency (e.g. $, , etc.).
  • Percentage: The data type of Percentage is for numerical data that should be displayed in percentage format. It saves data in Number format in the database, and displays it as shown below in the user interface. When percentages are displayed in the user interface, the underlying number (in the database) is multiplied by 100. For example, if you enter 9.99%, it will save as 0.0999. This allows calculations to be accurately applied to the data, while ensuring an intuitive user experience.
  • Text: The data type of Text is for any combination of letters, numbers and special characters. It saves data in String format in the database, and displays it as shown below in the user interface.
  • List: The data type of List is for a list of pre-defined options (defined by the user), from which only one option can be selected at a time. It saves data in String format in the database, and displays it as shown below in the user interface.
  • Boolean: The data type of Boolean is for data that is either true or false. It saves data in Boolean format in the database, and displays it as shown below in the user interface.
  • Date: The data type of Date is for data that represents a date. It saves data in String format in the database (i.e. "MM/DD/YYYY"), and displays it as shown below in the user interface. Date Variables also include a Date Format, which allows you to select your preferred date formatting (e.g. MM/DD/YYYY, DD/MM/YYYY, etc.).
  • Phone Number: The data type of Phone Number is for data that represents a phone number. It saves data in String format for international phone numbers (i.e. "+19171234567") and displays is as shown below in the user interface. Phone Number Variables also include a Phone Format, which allows you to select your preferred country phone format.
  • Email Address: The data type of Email Address is for data that represents an email address. It saves data in String format and displays as shown below in the user interface. When these fields are used, validation is automatically applied to ensure correct email address formatting.
  • Identification Number: The data type of Identification Number is for data that represents an government identification number (e.g. Passport Number, Social Security Number, etc.). It saves data in String format and displays as shown below in the user interface. Identification Number Variables also include an Identification Number Format, which allows you to select your preferred formatting (for example, to format US SSN like 123-45-6778 but US Employer Tax ID Number as 12-3456789).

Variable Permissions

DigiFi's platform allows granular, variable-level permissions so that you can determine who can view and edit specific data items. For each variable and each permissions level (i.e. Owner, Admin, User), you can choose one of the following options:

  • Read and Edit: Data will be visible and editable.
  • Read Only: Data will be visible but not editable.
  • Partially Hidden: Only the last 4 characters will be visible.
  • Fully Hidden: Data will be completely hidden.

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Use Variables to Create Detailed User Permissions

Since every Variable has its own permissions you can use Variables to create detailed permission structures in the system - especially when combining this capability with other platform features.

For example, you can create Variables that are only editable by certain user levels and use them in workflow status rules to create more complex permission structures for loan approvals.

Updated 3 months ago

Set Up Data Structure


Implement a unique data structure to customize the platform for your company.

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