# Key concepts and Terminology ### Applicant In relation to a loan, an applicant is an individual or entity who applies for borrowing money from a lender. The applicant provides personal and financial information to assess eligibility and creditworthiness for the loan. ### Institution In the context of a loan, an institution typically refers to a financial entity like a bank, credit union, or government agency that offers lending services. These institutions provide loans to individuals or businesses under specific terms, which include interest rates, repayment schedules, and other conditions. Their role is to facilitate the borrowing process, assess creditworthiness, and ensure compliance with financial regulations. ### Account An account is a record or statement of financial expenditure and receipts relating to a particular period or purpose. It typically involves elements such as a unique identifier, balance details, and transaction history, allowing users to track and manage their financial activities effectively. ### Transaction A financial transaction is the exchange of money between two parties. It requires mutual agreement and is recorded for accountability. These transactions can occur in banks, online platforms, or during everyday purchases, helping to ensure efficient distribution of financial resources. ### Category A Dimension that Categorises transactions into specific types (e.g. Employer Income, Rental Income, Groceries, Utilities, Entertainment). ### Category Groups A Dimension that Groups related categories for broader financial insights. ### Employer Match A Flag that Indicates if the declared employer name matches transacted records which is useful for income verification. ### Total Amount A Metric that Calculates the total sum of amounts transacted over a specified period. ### Number of Transactions A Metric that Counts the total number of transactions within a given time-frame. ### Average A Metric that Calculates the average balance (credit or debit amount) across various dimensions, including Categories and Category Groups. ### Income Buckets A Metric that Classifies income into predefined ranges for easier analysis. ### Net Monthly Position A series of Metrics that Calculates the difference between total credits and total debits on a monthly basis. ### Recency \[of Income] A series of Metrics that Analyses the recency of received income over a predefined period. ### Regularity \[of Income] A series of Metrics that Evaluates the regularity of income patterns over time. ### Reliability \[of Income] A series of Metrics that Assesses the reliability of income sources based on historical data. ### Support Package Support through Service Desk. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.mogoplus.ai/mogoplus/basics/terminology.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.