Product Classification

You can classify your banking products using the Banking Product Classification. Once defined, a product classification can be attached to different products, and then the contracts based on these products further inherit the same classification. Banking product classification has no business functionality implications, being intended only for the bank's internal segmentation needs.

To manage product classifications:

  1. In the main menu, click Product Factory > Banking Product Classifications, and the Banking Product Classifications List page opens.

  2. On this page, you can you can add new product classifications or edit, delete, export and search existing ones.

Adding Product Classifications

  1. On the Banking Product Classifications List page, click Insert, and the Add Product Classification page opens.

  2. On the newly displayed Add Product Classification page, fill in the following fields :

    • Classification Type: Select the type of classification for the new banking product classification record.

    • Name: Insert a name for the new classification item.

    • Is Default: If this checkbox is selected, then this becomes the default banking product classification item.

    • Code: Insert a unique code for the new classification item.

    • Valid From: Select the date from which the product classification item is valid.

    • Valid To: Select the date until when the product classification item is valid.

  3. Click the Save and Reload button.

  4. The Classified Banking Products Section is displayed after saving the classification item record and allows you to insert existing banking products that should be classified with this new classification item. The following information is displayed about each banking products: code, name, class, subclass, category and subcategory.

The data inserted here is shown in the Product Classification section from the Main Info tab of each Banking Product page.