Product Hierarchy

The banking system has developed numerous products and services to tend to their customers' needs and to stay competitive ahead of times. To aid consultants and developers manage these products, Innovation Studio offers a dedicated menu, Banking Product Hierarchy, where a hierarchy can be built

There are two ladders available with two levels. The organization is purely liberal to the bank.

Product Class

This ladder is designed to categorize the major banking products any bank offers. For example purposes, here is a demonstrative structure:

  • Personal
  • Corporate

  • Public Limited Companies

  • Non Profit organizations.

Adding Product Classes

  1. Open the Innovation Studio, expand the Product Factory menu, click Banking Product Hierarchy and choose Product Class menu item.
  2. The Banking Product Classes List page is displayed. It shows all the existing classes configured so far. To add a new class, click the Insert button.
  3. Enter a Class Name. Choose an appropriate name for your banking hierarchy.
  4. Click the Save and Reload button at the top right corner of the page.
  5. Four sections are displayed: Banking Product Subclasses, Banking Product Categories, Banking Product Subcategories, and Banking Products. Add the associated subclasses, categories, subcategories and products in each respective section.

Product Subclass

These are subordinated to the classes above. For example, some subclasses for banking products are:

  • authenticated
  • unauthenticated
  • teenagers/ students.
  • existing, authenticated customer
  • existing, un-authenticated customer
  • new, un-authenticated customer
  • new, authenticated customer.

Adding Product Subclasses

  1. Open the Innovation Studio, expand the Product Factory menu, click Banking Product Hierarchy and choose Product Subclass menu item.
  2. The Banking Product Subclasses List page is displayed. It shows all the existing subclasses configured so far. To add a new subclass, click the Insert button.
  3. Choose from the option set one for the subclasses pre-existing or insert a new subclass.
  4. Enter a Subclass Name.
  5. Click the Save and Reload button at the top right corner of the page.
  6. Two new sections are displayed: Banking Product Categories and Banking Product Subcategories. Add the associated category and subcategory in each respective section.

Product Category

Here is a possible structure for category:

  • saving
  • investing.

Adding Product Categories

  1. Open the Innovation Studio, expand the Product Factory menu, click Banking Product Hierarchy and choose Product Category menu item.
  2. The Banking Product Categories List page is displayed. It shows all the existing categories configured so far. To add a new category, click the Insert button.
  3. Choose from the option set one for the classes pre-existing or insert a new class.
  4. Choose from the option set one of the subclasses pre-existing or insert a new subclass.
  5. Enter a Category Name.
  6. Enter a Code for the category.
  7. Click the Save and Reload button at the top right corner of the page.
  8. The Banking Product Subcategories section is displayed. Insert an associated subcategory in this section.

Product Subcategory

For example, here is a structure for subcategory:

  • savings account
  • term deposit
  • direct equity
  • equity mutual funds
  • debt mutual funds.

Adding Product Subcategories

  1. Open the Innovation Studio, expand the Product Factory menu, click Banking Product Hierarchy and choose Product Subcategory menu item.
  2. The Banking Product Subcategories List page is displayed. It shows all the existing subcategories configured so far. To add a new subcategory, click the Insert button.
  3. Choose from the option set one for the classes pre-existing or insert a new class.
  4. Choose from the option set one of the subclasses pre-existing or insert a new subclass.
  5. Choose from the option set one of the category pre-existing or insert a new category.
  6. Enter a Subcategory Name.
  7. Click the Save and Close button at the top right corner of the page.