The Preferences functionality allows users to configure currency conversion settings

Currency Conversion

Hey, it's anjali.nagururi! 👋 Let me give you a quick tour of the platform.

Click on "Credit & Risk"

Click on "Check & Decide"

Click on "Preferences" 

Click on the "Select Primary Currency" drop-down

If a primary currency is selected for the first time, users will see a message that conversion rates are not yet configured.

Click on "Set Conversion Rates"

This formula is used to calculate currency conversion for financial values, allowing users to understand how selected rates are applied during decision-making.

Click on the green + symbol to add more currencies

Select the "Currency"  and Enter the currency conversion rate from GBP to EUR (e.g., 1 GBP = 0.36 EUR).

Input your conversion rate

Users can view the models they have access to under their customer account and select only the models available to the logged-in user for currency conversion.

Model Selection

Users select a conversion model by clicking the relevant chip in the Model Selection Card. Access types (indicated by color):<ul><li>Applied (Editable, Green): Selected by current user; can select/deselect.</li><li>Applied (Read-Only): Selected by another user; cannot edit.</li><li>Not Applied (Editable): Can be selected by logged-in user.</li><li>No Access: Cannot view or select.</li></ul>

Select the Decision Models to apply the currency conversion to

Hovering over a chip shows access details to ensure only authorized models are chosen.

Select “Cancel” to discard changes made to model selection or conversion rates; no updates will be saved.

Click on "Cancel" to discard changes

Click Yes to confirm, or No to continue editing

Click on "Save Conversion Rate"

A notification confirms a successful save, and users can view the conversion rates and selected models in view mode.

This enables the conversion rates for use in decision processes.

Click on "Activate Currency Conversion"

Editing a Conversion Rate

The “Edit Conversion Rates” option allows users to manage currency rates and models by adding, updating, or removing them.

Click on "Edit Conversion" to edit a conversion rate

Select  the  currency

Enter Conversion rate

Click the “×” (cross) icon to unselect a model for currency conversion.

Models in grey are currently not selected for currency conversion.

  The model is currently not selected for currency conversion. 

This action will ensure that all new changes made to the conversion rates and model selections are saved and applied.

Click on Save & Activate Conversion

Using Currency Conversion

Search for a Norwegian company and select the company from search results

Select the "Model" and Enter the "Credit Amount"

Click on Request Decision

In the decision results, the currency conversion has been added. The conversion rate is 1 EUR = 1.36 NOK. 

The formula used for calculation is: Converted Amount = Amount in Original Currency / Conversion Rate From the company report, the turnover is 	46 009 000 000 NOK Converting this to GBP using the rate of 1.96 gives: 	46 009 000 000 NOK /1.36 = 33,830,147,058.82 EUR