Term Loans

The Main Info tab requires the basic elements for the creation of a product such as name, code, currency, validity, or product classification.

The following fields are available:

Field	Required	Data Type	Details
Main Information
Banking Product Type	Yes	Option Set	Choose one for the following: Bank Account Card Credit Card Deposit Leasing Mortgage Overdraft Term Loan NOTE   Your product type selection greatly influences the next steps. It is important to choose the right type of product to build.
Currency	Yes	Lookup	Choose the currency for this banking product.
Banking Product Code	Yes	Text	Enter the code of the product. It can have 10 characters and it is used in the contract. It uses a sequencer and the code of the product type.
External Code	No	Text	The code of the product imported from an external system, if applicable. It can have 10 characters and it is not used in the contract.
Start Date	Yes	Date	Select the date when the product becomes available.
End Date	Yes	Date	Select the last date from when the product is available. From that date forward, the product is no longer available.
Name	Yes	Text	Enter the name of the product.
Class	No	Option set	Select the class of the product. This field is used to place the product in a hierarchy. For more information, see Product Hierarchy
Subclass	No	Option set	Select the subclass of the product. This field is used to place the product in a hierarchy. For more information, see Product Hierarchy
Category	No	Option set	Select the category of the product. This field is used to place the product in a hierarchy. For more information, see Product Hierarchy
SubCategory	No	Option set	Select the subcategory of the product. This field is used to place the product in a hierarchy. For more information, see Product Hierarchy
Description
Description	No	Text area	Write any description or additional text here.

Click the Save and Reload button at the top right corner of the page.

Product Classification Section

In the Product Classification section, you can insert or remove existing product classification items. To add a product classification item, click Insert Existing and select an already existing item.

You can also create a new product classification item by clicking Insert. On the newly displayed Add Product Classification page, fill in the following fields:

Field	Required	Data Type	Details
Classification Type	Yes	Option set	Choose the classification type of the item. Possible values: Regulatory, Restructuring.
Name	Yes	Text	Enter the name of the classification item.
Code	Yes	Text	Enter the unique code of the classification item.
Is Default	Yes	Boolean	Select the checkbox if this classification item is default.
Valid From	Yes	Invariant Date	Select the date from which the product classification item is valid.
Valid To	Yes	Invariant Date	Select the date until when the product classification item is valid.

The Banking Products Classification Section is displayed after saving the classification item record and allows you to insert existing banking products. The following information is displayed here:

Field	Details
Code	The code of the banking product added to the product classification item.
Name	The name of the banking product.
Class	The class of the banking product.
SubClass	The subclass of the banking product.
Category	The category of the banking product.
SubCategory	The subcategory of the banking product.
Status	The status of the banking product record.

Click the Save and Reload button at the top right corner of the page.

The Details tab requires further elements such as general data, disbursement settings, payment schedule types and templates, product guarantees, tranches, and holiday settings.

General Data Section

For the General Data section, the following fields are available:

Field	Required	Data Type	Details
Is Revolving	No	Boolean	Allows a business to borrow money as needed for funding working capital needs and continuing operations such as meeting payroll and playable. NOTE   If a term loan is revolving, its attached limit must also be revolving, meaning that the Available Amount of the limit is replenished either on each repayment of the principal or on loan contract closure.
Allow Refinancing	No	Boolean	Select if the account can be refinanced for this product.
Allow Restructuring	No	Boolean	Select if the loan can be restructured.
Allow CoDebtor	No	Boolean	Select if another debtor exists for this product.
Max No. of CoDebtors	No	Text	Set the maximum number of co-debtors possible for this product.

Click the Save and Reload button at the top right corner of the page.

Disburse Settings Section

For the Disburse Settings section, the following fields are available:

Field	Required	Data Type	Details
Auto Disbursement	Yes	Boolean	Specify if the disbursement is automatically performed when the contract is approved.
Max No Disbursements	No	Whole number	Enter the maximum number of disbursements that can be configured for this product.
Activ Tranche On Doc Submission	No	Boolean	If you select this checkbox, then the tranches are activated (disbursements are created and approved) after certain documents are submitted. It is the Financial Institution's responsibility to verify the content of the submitted documents.

Click the Save and Reload button at the top right corner of the page.

Product Guarantees Section

For the Product Guarantees section, the following fields are available:

Field	Required	Data Type	Details
Is Guaranteed	Yes	Boolean	This checkbox marks the product as secured or unsecured. NOTE   The Collateral Cover Percent and Allow Collateral Partial Release fields and the Allowed Guarantee Types section appear when you select this checkbox.
Collateral Cover Percent	No	Whole number	The percent that the collateral person on the contract pays. It usually is over 100%.
Allow Collateral Partial Release	No	Boolean	A partial release is a mortgage provision that allows some of the collateral to be released from a mortgage after the borrower pays a certain amount of the loan.

In the Allowed Guarantee Types section, displayed if the Is Guaranteed checkbox was selected earlier, you can insert or delete allowed guarantee types. To insert a guarantee type, click the Insert button and fill in the name, maximum accepted covering percent, and select the guarantee type.

Click the Save and Reload button at the top right corner of the page.

Product Tranches Section

In the Product Tranches section, insert existing disbursement tranches or create new ones, configured to fit the product. Usually used for corporate loans, such dividend payments or cash outflows are not done in equal amounts and usually trigger a recalculation in terms of interest.

Add multiple such disbursements by clicking the Insert button. You can add:

• Name.

• Tranche Percent (%): the percentage of the final amount that goes towards the disbursement.

• Start Month From Activation: the start month for the disbursement. It can be any month in the loan availability period.

• Interest Percent (%): the interest percent for that particular disbursement.

• Unusage Commission Percent (%): a commission paid for the loan amount unused.

Click the Save and Reload button at the top right corner of the page.

Payment Schedule Types Section

In the Payment Schedule Types section, the following fields are available:

Field	Required	Data Type	Details
Period Type	No	Option set	Select the period of availability for the product. Choose one: Days Weeks Months Years Once. NOTE   The period type must be the same as the measurement unit of the Periodicity Type.
Periodicity Type	Yes	Option set	Select the regularity of payments. Select one from the following: Once (the whole amount is paid at maturity) Weekly Monthly Bimonthly Trimestrial 4 Weeks Semestrial Annual 30Days. NOTE   If the measurement unit of the selected Periodicity Type = Days, then Holiday Shift For Repayment Installments = False and it cannot be changed.
Grace Type	No	Option set	Select whether the product grace should apply to the principal, the interest, or both. Select an option from the list: Both Principal Interest.
Product Grace	No	Option set	Select an option from the list. This is the amount of time that the bank can offer to a customer at the beginning of the contract without repayments of principal or principal + interest (however, most probably the bank capitalizes the interest for that period of time).

Click the Save and Reload button at the top right corner of the page.

Schedule Templates Section

In the Schedule Templates section, you can associate/ delete payment schedule types to/ from the banking product.

To associate a payment schedule type to the banking product, click Insert Existing and select one of the already defined types. Go to Payment Schedule Types to read more about this.

Click the Save and Reload button at the top right corner of the page.

Holiday Settings Section

In the Holiday Settings section, the following fields are available:

Field	Required	Data Type	Details
Holiday Shift For Repayment Installments	Yes	Boolean	This checkbox marks if the holidays are considered for the calculation of the maturity schedule. NOTE   The Country Calendars section and the Defer Due Date and Holiday Shift Method fields appear if you select this checkbox.
Defer Due Date	Yes	Boolean	If you select the checkbox, the payment schedule calculates the next payment amount as if the due date has not changed even when the due date falls on a holiday. This checkbox is selected by default.
Holiday Shift Method	No	Option set	Select from the list the method to be used when calculating the due date if that date falls to a holiday. The due date can be shifted before or after the holiday. Possible values: None - the due date is not shifted. Forward - the due date is shifted to the next working day after the initially calculated due date. Backward - the due date is shifted to the last working day before the initially calculated due date. Default value: Forward.

In the Country calendars section, you can insert or delete calendars. You can work with multiple calendars as well. Click the Insert Existing button and add the country's name. If the maturity date coincides with a holiday, it is allocated automatically on the next business day.

Click the Save and Reload button at the top right corner of the page.

The Availability tab determines the monetary range and the time frame when the product is available for customers.

The following fields are available:

Field	Required	Data Type	Details
Minimum Amount	No	Whole Number	The minimum amount of the product for which the bank opens a contract.
Maximum Amount	No	Whole Number	The maximum amount of the product for which the bank opens a contract.
Minimum Period	No	Whole Number	The minimum duration of the product mentioned in the contract.
Maximum Period	No	Whole Number	The maximum duration of the product mentioned in the contract.
Minimum Advance	No	Numeric	The minimum advance percentage from the contract's financed value applicable at the contract level.
Maximum Advance	No	Numeric	The maximum advance percentage from the contract's financed value applicable at the contract level.
Start Period For Unusage After Activation (Months)	No	Whole Number	The start period for unused amount after the activation, in months.
Maximum Period For Disbursement After Activation (Months)	No	Whole Number	The maximum period of disbursement after the this option is set, in months. The number of months during which the disbursement must be made.
Minimum Principal For Early Repayment	No	Whole Number	The minimum principal for when early repayments are made.

Availability Rules Section

In the Availability Rules section you can select the item filters for the banking product. For more details, see Product Filter.

Click the Save and Reload button at the top right corner of the page.

Product Covenants Section

In the Product Covenants section you can set certain conventions that applicants must abide by after getting the loan. This is usually applicable for corporate clients that must meet certain requirements in order to continue to receive disbursements.

Click the Insert button to add a covenant to the product. Each covenant can be attributed a value, an availability period, and a review frequency in months. Read more about covenants in the Covenant page.

Click the Save and Reload button at the top right corner of the page.

The Dimensions tab displays the interests, commissions, insurances, discount and questions valid for a product.

You can insert, delete or export interest, commissions, insurances, discounts or questions. To add a new one, click Insert and fill-in the fields detailed in the sections below.

Interest & Commissions Section

Click Insert to add an interest or a commission. In the Interest & Commission Item page, fill in the following fields:

Field	Required	Data Type	Details
Banking Product	Yes	Option set	Select the banking product.
Code	No	Text	Enter a code for this particular interest/ commission.
Item Name	Yes	Text	Enter a name.
Start Date	No	Date	The start date when the interest/ commission becomes effective.
End Date	No	Date	The end date for the interest/ commission.
Interest List	No	Option set	Select from which list the interest is a part of.
Commissions List	No	Option set	Select from which list the commission is a part of.
Minimum Interest Rate (%)	No	Numeric	Enter the percent applicable as a minimum interest rate at the contract level.
Is Negotiable	No	Boolean	Select the checkbox to specify that every interest, commission or margin field at the contract level is negotiable and can be edited.

Click the Save and Reload button at the top right corner of the page.

In the Interest & Commission Item Filters section, click Insert to insert an item filter and fill in the following fields:

Field	Required	Data Type	Details
Filter	Yes	Option set	Select a filter created earlier in the Product Filter.
Value/ Date	No	Text/Date	Select the beginning value/ date for the filter.
Until Value/ Until Date	No	Text/Date	Select the maximum value/ date for the filter.
Description	No	Text area	This field is automatically filled in after clicking the Save and Reload button. The values/ dates inserted above are turned into an expression.
For Lookup attributes
Filter	Yes	Option set	Select a filter created earlier in the Product Filter.
Option Set	No	Option set	It is automatically filled in with the option set name created for the attribute.
Description	No	Text area	It is left blank. Add a description if needed.
Grid of Options	No	Grid	This field is automatically filled in after clicking the Save and Reload button. The values of the option set are displayed. Select the Boolean for the values you wish to include in the filter.

Click the Save and Reload button at the top right corner of the page.

Insurances Section

For any banking product, you can select a pre-existing insurance or create a new one. To add a new insurance, fill in the following fields:

Field	Required	Data Type	Details
Banking Product	Yes	Option set	Select the banking product.
Code	No	Text	Insert a code for this particular insurance.
Item Name	Yes	Text	Insert a name.
Start Date	No	Date	It is the start date when the insurance becomes effective.
End Date	No	Date	It is the end date for the insurance.
Details	No	Text area	It is left blank. Add a description if needed.
Insurance List	No	Option set	Select from which list the insurance is a part of.

Click the Save and Reload button at the top right corner of the page.

In the Insurance Item Filters section, click Insert and fill in the following fields:

Field	Required	Data type	Description
Filter	Yes	Option set	The name inserted earlier.
Value	Yes	Text	The starting value for the attribute.
Until Value	Yes	Text	The ending value of the interval.
Description	No	Text area	Insert the proper description for the availability filter.

Click the Save and Close button at the top right corner of the page.

Discounts Section

For any banking product, you can add discounts of any nature. You can select a pre-existing discount or create a new one.

Click the Insert button to add a new discount. In the Details page, fill in the following fields:

Field	Required	Data Type	Details
Name	Yes	Text	Insert the appropriate name for the discount.
Discount	No	Option set	Choose one of the pre-configured types of discounts or create a new one. According to the selected type, new fields appear on the page requiring to be filled in.
Value discount	No	Numeric	Insert the value of the discount to be applied, e.g. 15.
Start date	Yes	Date	It is the start date when the discount becomes effective.
End date	Yes	Date	It is the end date for the discount.
Applied to dimension	No	Option set	Specifies for which product dimension this discount is applicable (interest, commission or insurance). This is autocompleted by the selected discount's dimension.
Commission type	No	Lookup	This field appears if the selected discount = Commission discount or Management Fee Discount. Specifies for which commission type this discount is applicable. This is autocompleted by the selected discount's default commission type.
Commission	No	Lookup	This field appears if the selected discount = Commission discount or Management Fee Discount. Specifies for which commission this discount is applicable. This is autocompleted by the selected discount's default commission.
Insurance class	No	Lookup	This field appears if the selected discount = Discount Life Insurance or Interest Discount. Specifies for which insurance class this discount is applicable (credit, home, life or other insurance class). This is autocompleted by the selected discount's insurance class.
Insurance	No	Lookup	This field appears if the selected discount = Discount Life Insurance. Specifies for which insurance this discount is applicable. This is autocompleted by the selected discount's insurance.
Interest type	No	Lookup	This field appears if the selected discount = Interest discount. Specifies for which interest type this discount is applicable.
Use Banking Formula	No	Boolean	If you select this checkbox, the discount is calculated using the Banking Formula engine.
Is optional discount?	No	Boolean	Selecting this checkbox results in the discount being applied only if the customer agrees to the discount.
Is percentage	No	Boolean	If you select this checkbox, the discount is calculated as a percentage from the contract's amount.
Destination entity	No	Option set	Select the entity where to register the discount. This field opens when the Is optional discount? checkbox is selected.
Destination entity attribute	No	Option set	Select the attribute where to register the discount. This field opens when the Is optional discount? checkbox is selected.

Click the Save and Reload button at the top right corner of the page.

In the Product Discount Item Filter section, click Insert and fill in the fields as specified in the Product Filter page. The fields displayed depend on the selected filter.

Click the Save and Reload button at the top right corner of the page.

Questions Section

Choose one or more questions to add to the banking product, or insert a new one.

To insert a new question, click Insert existing, then click Insert. In the Add Banking Product Question page, fill in the following fields:

Field	Required	Data type	Description
Question	No	Text	Enter the appropriate name.
Answer Type	No	Option set	Select the type of answer the customer has to give: text numeric option set.
Answer Entity	No	Option set	Select the entity where the answer is stored.
Answer Field	No	Option set	Select the attribute where the answer is stored.

Click the Save and Reload button at the top right corner of the page.

The Banking Products List shows where the question is used.

Click the Save and Close button at the top right corner of the page.

For example, this is how a question is displayed in a digital journey in the FintechOS Portal:

The Product Formula Engine tab keeps formulas built with Formula Engine for the banking product. Such formulas can be used to determine the eligibility of a customer.

Banking Product Formulas Section

In the Banking Product Formulas section, choose an already defined formula or click Insert to configure a new one, for example a formula for eligibility or scoring purposes. For information on how to build a formula, see Define Formula Inputs.

In the Add Banking Product Formula page, fill in the following fields:

Field	Required	Data type	Description
Name	Yes	Text	Enter an appropriate name.
Banking Product	No	Option set	The name of the banking product is inserted automatically.
Formula Type	Yes	Lookup	Select the type of formula configured before, e.g. scoring /eligibility.
Formula	Yes	Lookup	Select the previously configured formula. IMPORTANT!   The formula must be activated before attaching it to a product.
Data Mapping	No	Lookup	Select the previously configured data mapping.

After selecting the desired formula, click Save and reload, then click Map Data.

In the Formula Mapping page, click Input and configure the input data for the formula.

Click Output and configure the output for the formula.

Click the Save and Close button at the top right corner of the page.

Such formulas can be used in digital journey steps, for example when the customer inserts their financial data.

Test Scenarios Section

A good practice is to test the formula before displaying it in a digital journey. You can do that in the Test Scenarios section.

Click Insert to open the Add Test Scenario page.

Insert a Test Scenario Type from the option set. The keys and the values are shown. Click the Save and Reload button at the top right corner of the page.

Click the Calculate button. The outputs are displayed in the Test Scenario Outputs section. These outputs can be saved by selecting the Save Output Data checkbox next to Calculate.

The Documents tab contains all the attached documents available for a product.

Banking Product Documents Section

The previously associated documents are displayed in the Banking Product Documents section.

To attach a new document to the banking product, click Insert and fill in the following fields:

Field	Data Type	Description
Operation Code	Whole number	Enter a code for the document.
Banking Copies No	Whole number	Insert the number of copies made.
Report	Lookup	Select a document from the list.
Document Type	Option set	Select a document type from the list.
Is Mandatory	Boolean	Select if the document is mandatory.
Includes Debtor	Boolean	Select if the document includes the debtor.
Includes Coborrower	Boolean	Select if the document includes the co-borrower.
Requires Signature	Boolean	Select if the document requires to be signed.
Is accord	Boolean	Select if the document represents the accord.

Click the Save and Close button at the top right corner of the page.

Banking Products Agreements Section

The agreements that a customer needs to go through are displayed in the Banking Products Agreements section.

To attach a new agreement to the banking product, click Insert and fill in the following fields:

Field	Required	Data Type	Description
Agreements	Yes	Option set	Select an agreement from the list.
Banking Product	Yes	Option set	It is automatically filled in.
Code	No	Whole number	Insert the corresponding code.
Is Mandatory	No	Boolean	Select if the agreement is mandatory for the product.

Click the Save and Close button at the top right corner of the page.

For more information on how to configure a contract or an agreement, see the Digital Document Processor.

Transactions types that are performed to and from a banking product are displayed in the Lean Core Settings tab. The tab also holds information about the reconciliation account associated with the products, mandatory roles for contract approval, payment allocation settings, the treatment of returned goods for contracts based on this banking product (only for Term Loans and Mortgage banking products), and closing contract settings.

Self Bank Account Associated With The Product Section

For each banking product, you must select a reconciliation account, which is the bank account to be used for transactions.

Next to the Reconciliation Account field, select a value from the list to be the current account from which or to which the money is wired from or to.

Select a value for the Negative Value Treatment drop-down to specify how Core Banking treats situations when the funds of the reconciliation account associated with the banking product used in the contract would go below zero if a disbursement event would be approved. The possible values are:

• Error - there is an error message displayed if the disbursement event that is being approved would result in a negative balance of the associated reconciliation account: "Reconciliation bank account <account_name> has a balance lower than the amount to debit!". The event can't be approved and the balance can't go below zero. Select this value if you want to block any transactions that would result in a negative balance of the reconciliation account associated to the banking product.

• Warning - there is a warning message displayed if the disbursement event that is being approved would result in a negative balance of the associated reconciliation account: "Reconciliation bank account <account_name> has a balance lower than the amount to debit!". The event can be approved and the balance can go below zero.

• NoMessage - there is no error or warning message displayed if the disbursement event that is being approved would result in a negative balance of the associated reconciliation account. The event can be approved and the balance can go below zero.

If you associate the same reconciliation account to more than one banking product, then the setting selected in banking product A is applied for contract events based on banking product A, while for the banking product B, Core Banking would apply the setting selected at the level of banking product B.

Payment Allocation Settings Section

This section holds the payment allocation settings. This is where you can decide which allocation method should be used to determine the order in which credit items are prioritized when repaying loans, credit accounts, and so on. You can also define the grace period settings.

Fill in the following fields:

Field	Required	Data Type	Details
Payment Allocation Method	No	Lookup	The payment allocation method represents the recovery order of amounts from payment notifications. Select a payment allocation method from the list.
Grace Days for Repayment	No	Whole number	Insert the number of days for which the bank expects a payment without calculating penalty.
Penalty for grace period	No	Boolean	If you select the checkbox, the penalty interest is applied on the loan contract without taking into consideration the grace period defined at contract level, being calculated for the difference between system date - due date, if the grace period passed and the customer didn't pay the due amounts. If you leave this checkbox unselected, the penalty interest is applied on the loan contract taking into consideration the grace period defined at contract level, being calculated for system date - due date + grace days for repayment.

Click the Save and Reload button at the top right corner of the page.

Mandatory Roles for Contract Approval Section

The Mandatory Roles section allows you to add the roles of the participants that are mandatory to exist at the contract level for contracts based on this banking product. In other words, when creating contracts based on banking products with Merchant role in this section, you must add a customer with the same Merchant role as contract participant, otherwise, the contract cannot be approved. When Search Limit is selected for a role on a banking product, Core Banking checks if the contract participant with this role has an attached limit configured with a limit type associated to the same role, in this case Merchant Exposure.

In the Mandatory Roles section, click Insert and fill in the following fields:

Field	Required	Data Type	Details
Banking Product	Yes	Lookup	The banking product for which you define mandatory roles. This is automatically completed with the current banking product.
Role	Yes	Option Set	Select the role of the participants that are mandatory to exist at the contract level for contracts based on this banking product.
Search Limit	Yes	Boolean	When Search Limit is selected for a role on a banking product, Core Banking checks if the contract participant with this role has an attached limit configured with a limit type associated to the same role. If you select a role not associated with a customer limit type in Core Banking, the Search Limit field becomes read-only and unselected.

Click the Save and Reload button at the top right corner of the page.

Return Of Goods Section

The fields within this section allow you to define whether a contract based on the banking product can have Returned Amount or Goods transactions or not, and the specific conditions for these transactions. The Returned Amount or Goods transaction type can be used when a customer returns all or part of a loan or mortgage in a short while after contract creation, if the banking product was defined to allow such transactions. You can set up Return Fee type commissions, to return all or some of the claimed commission to the borrower.

To configure the treatment of returned goods for contracts based on this banking product, fill in the following fields:

Field	Required	Data Type	Details
Allow Return Of Goods	Yes	Boolean	Select this checkbox if the contracts based on this banking product accept Return of Goods transactions. Default value: False. If selected, the Accepted Days For Return and Return Message fields are displayed, otherwise, these fields are not visible.
Accepted Days For Return	Yes	Whole Number	Specify the number of days after contract creation during which the return of goods transaction can be created and approved.
Return Message	Yes	Option Set	Select the behavior of messages generated by Core Banking for situations when the Returned Amount or Goods transaction's approval date + the number of accepted days for return >= the current date. Possible values are taken from the Warning Error Treatment option set. According to the desired behavior, choose: Error, if the transaction should not be approved and an error message should be displayed; Warning, if the transaction can be approved, but a warning message should be displayed; NoMessage, if the transaction can be approved without any messages.

Click the Save and Reload button at the top right corner of the page. If Allow Return Of Goods = True, then the Returned Amount of Goods transaction is automatically added to the Transaction Types section.

Closing Contract Settings Section

In the Closing Contract Settings section, you can configure the default closure settings for contracts based on this banking product.

Fill in the following fields:

Field	Required	Data Type	Details
Buffer Close Days	No	Whole Number	Enter the number of days used as buffer before automatically closing the contract when the contract reaches maturity and its balance reaches zero. If Buffer Close Days > 0, then Contract Is Closed Automatically = False.
Close Real Time	No	Boolean	If you select this checkbox, the contract based on this banking product is closed in real-time, when the contract reaches maturity and its balance reaches zero, without waiting for the end of day processes. If Close Real Time = True, then Buffer Close Days = 0 and Contract Is Closed Automatically = True.
Closing Is Flexible	No	Boolean	If you select this checkbox, the closure details of the contract based on this banking product can be modified at the contract creation.
Contract Is Closed Automatically	No	Boolean	If you select this checkbox, the contract based on this banking product is closed automatically at maturity, if the balance reaches zero. If Contract Is Closed Automatically = False, then Close Real Time = False.

Click the Save and Close button at the top right corner of the page.

Allowed Transactions Section

In the Allowed Transactions section, you can associate possible transaction types with the selected banking product. Click Insert existing and select the desired transaction types.

Double-click a selected transaction type to edit it.

In the Edit Transaction Type section, fill in the following fields:

Field	Required	Data Type	Details
Settings
Name	Yes	Text	Name of the transaction type.
Transaction Code	Yes	Text	The code of the transaction type.
Is Automatic Transaction	Yes	Boolean	This checkbox marks the transaction as automatic. If selected here, then you cannot select it within the contract operations.
Is System Transactions	No	Boolean	This checkbox marks the transaction as being neither a credit of the account, nor an allocation of funds, but a transaction that does not influence other transactions within the account. System transactions are meant to be used only for accounting.
Real Time Process		Boolean	This checkbox marks the transaction as to be processed in real-time. If the value is True, then the transaction is processed right away. If the value is False, then the transaction is inserted as a bank account transaction queue record.
Edit Form	No	Lookup	The form used to edit this transaction type. The lookup only shows forms defined on the Contract Event entity.
Only One Draft	No	Boolean	If you select this checkbox, there can be only one record of this transaction type in Draft status created at the contract level.
Generate New Contract Version	No	Boolean	This checkbox allows you to specify if a new contract version should be generated by this transaction type.
Commission Type	No	Lookup	The commission type applicable for this transaction type. Return fee commissions are filtered out and can't be selected.
Return Commission Type	No	Lookup	The return fee commission type applicable for this transaction type. Only return fee commissions can be selected.
Process Type	Yes	Option set	This field associates the process type with the transaction operation type, which makes the connection with the transaction motor of bank accounts. Select one of the processes defined within the system. NOTE   There is no integration at this point with a payment gateway.
Accounting Configurations
Generates Accounting Entry	Yes	Boolean	This checkbox allows you to create an entry in the general ledger. It generates records in the Accounting Entry entity.
OL Master Entity	Yes	Lookup	The entity referenced by the accounting systems.
Purge Configurations
To Be Purged	No	Boolean	This checkbox marks the transaction as purgeable. If selected, it allows you to purge or archive records in Draft status.
Purge Number of Days	Yes	Whole Number	The default number of calendar days that a record can be kept in Draft status before it is purged. For additional information, see the Core Banking System Parameters page. This field is displayed only when To Be Purged = True.
Master Purge Entity	Yes	Lookup	The master purge entity under which the draft records are. This field is displayed only when To Be Purged = True.

You can also edit the information in the Transaction Value Types, Transaction Item Accounting Configurations and Transaction Accounting Models sections. Read more details about Transaction Types in the Operational Ledger User Guide.

Click the Save and Close button at the top right corner of the page.

The following transaction types are typically used for term loans:

• Accruals and Provisions - System transaction. If added at banking product level, the accruals and provisions for contracts can be calculated on a daily basis.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Disbursement - If added at banking product level, the requested funds are transferred into the customer's account.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Early repayment - If added at banking product level, the customer can make a payment earlier than the stated maturity date of the contract.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Payment Holiday - If added at banking product level, the official bank holidays are considered when calculating a payment schedule.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Repayment - If added at banking product level, the customer can make a payment to cover the scheduled repayment amount.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Repayment Notification - If added at banking product level, the system generates and displays in the contract a repayment notification after each disbursement, containing the total amount to be paid off.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Reschedule Overdues - If added at banking product level, the system extends or adds extra time to an existing contract.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Reschedule Debt - If added at banking product level, the system recalculates the entire payment schedule by extending the time period for loan repayment.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Returned Amount or Goods - If added at banking product level, the Returned Amount of Goods transaction type can be used when a customer returns all or part of a loan in a short while after contract creation. You can set up Return Fee type commissions, to return all or some of the claimed commission to the borrower.
  This transaction type is not added automatically. Make sure you select the Allow Return Of Goods checkbox in the Return of Goods section within the Associated Transactions tab.

• Revert Disbursement - If added at banking product level, disbursements performed at contract level can be reverted after being performed.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Revert Transfer between my bank accounts - System transaction. If added at banking product level, transfers between the same customer's bank account can be reverted after being performed.
  This transaction type is not added automatically. Make sure you insert it in the Associated Transactions tab.

• Transfer between my bank accounts - If added at banking product level, the customer is allowed to move funds between their accounts at the contract level.
  This transaction type is automatically added in the Associated Transactions tab if Allow Withdrawals was selected in the Details tab.

The History tab displays the versions of the banking product, their workflow status and the user who modified the product.

Here you can track the product's life cycle and review older versions that are no longer active (for details, see Banking Products' Life Cycle).

The Origination Elements tab holds the elements required in origination journey, such as product benefits, display conditions, features, destination types, or associated products.

You can fill in the following fields:

Field	Required	Data Type	Details
Product Image	No	File	Insert an image representative for the product.
Document	No	File	Insert the document representative for the product.
Benefits	No	Text area	Insert the advantages of owning the banking product. You can format the text in the text editor window.
Display Conditions	No	Text area	Insert the conditions for the applicant, e.g. age limit, annual turnover, education level, income, registration documents.

Click the Save and Reload button at the top right corner of the page.

Product Features Section

In the Product Features section, you can insert, delete or export features. To add a feature, click Insert and fill in the following fields:

Field	Required	Data Type	Details
Feature	No	Text	Enter the name of the product feature.
Is Main Feature	No	Boolean	Select the checkbox if it is the major feature.
Display Name	No	Text	Enter the display name of the feature.

Click the Save and Reload button at the top right corner of the page.

Product Destination Types Section

The Product Destination Types section allows for insertion or removal of existing product destination types. Click Insert existing and select one of the existing destination types, or insert a new one. To create a new destination type, insert a name and specify if it is default. For this case, the following have been configured:

• Loan Collateral
• Loan disbursements
• Personal
• Repayments.

Associated Products Section

The Associated Products section allows for insertion or removal of existing products. It is especially useful when you wish to create a link between two products. You can insert or remove a product from the list or create a new one.

Click the Save and Reload button at the top right corner of the page.

In the Banking Product GL Accounts section, you can set specific accounts to be used by the Operational Ledger system for transactions performed on contracts based on this banking product. Thus, you can overwrite the generic settings of the Operational Ledger, instructing it to use the accounts specified at banking product level.

To add specific accounts to be used by Operational Ledger, click Insert and fill in the following fields in the displayed Add Banking Product GL Account page:

Field	Required	Data Type	Description
Product	Yes	Option set	Select from the list the banking product. Automatically completed with the banking product you are currently editing.
Accounting System	Yes	Option set	Select from the list the desired accounting system. The list contains the records created in the FTOS_GL_AccountingSystem entity.
Accounting Scope	Yes	Option set	Select from the list the corresponding accounting scope. The list contains the records created in the FTOS_GL_AccountingScope entity.
Item	No	Option set	Select from the list the corresponding transaction item. The list contains the records created in the FTOS_GL_TransactionItemAccountingConfig entity.
GL Account	Yes	Option set	Select from the list the corresponding GL account. The list is filtered based on the previously selected accounting system. It contains the accounts defined in the FTOS_GL_AccountingChart entity that were added to the chosen accounting system record.

Click the Save and Reload button at the top right corner of the page.