Managing Commissions

Commissions are set up independently from the banking products. They are available in banking products in the form of commission lists, after they have been grouped together based on their use.

Commissions

Commissions are the fees taken by the bank for offering a product or service such as opening an account, for cash withdrawals, for transfers, for making payments in certain countries, for exchanging currencies, for emitting debit cards, for handling documents etc. These commissions vary from bank to bank, based on their policy.

You can manage commissions using Banking Product Dimensions. They are grouped into lists and attached to banking products, so they reach the contracts.

To manage commissions, follow the steps below:

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

  2. On the Commission List page, you can add new interests or search, edit, and delete existing ones.
IMPORTANT!  
The value of a commission used in active contracts cannot be edited. Instead, you can modify the value's validity and add a new value with a future validity period. For details, see the Editing The Value Of A Commission Already In Use section.
NOTE  
Read about how and when to use commissions based on their periodicity type on the dedicated Commission Definition Best Practices page.

Commission Lists

A commission list allows you to group multiple commissions into a collection of commissions that you can use in a banking product. It is possible to group under the same umbrella the following types of commissions created individually in the Commissions menu: Front-end fee& Management fee & Repayment fee.

To manage commission lists:

  1. In the main menu, click Product Factory > Banking Product Dimensions > Commissions List, and the Commission List list page opens.

  2. On the Commission List list page, you can add new interests or search, edit, and delete existing ones.

Filter Interests & Commissions

You can define filtering criteria for your interests and commissions which you can later on call in your banking products.

To manage filtering criteria, follow the steps below:

  1. In the main menu, click Product Factory > Banking Product, and the Product List page opens.
  2. Select the product where you want to add the filter.

  3. In the Dimensions tab, insert or edit an interest or a commission.

  4. In the Interest & Commission Item Filters section, click Insert, and fill in the following fields:

    • Filter: Select a filter created in the Product Filter.

    • Value/ Date: Select the beginning value/ date for the filter.

    • Until Value/ Until Date: Select the maximum value/ date for the filter.

    • Description: This field is automatically filled in after the Save and Reload button is clicked. The values/ dates inserted above are turned into an expression.

    For Lookup attributes, the following fields are available:

    • Filter: Select a filter created in the Product Filter.

    • Option set: Automatically filled in with the option set name created for the attribute.

    • Description: Add a description if needed.

    • grid of options: This field is automatically filled in after the Save and Reload button is clicked. The values of the option set are displayed. Select the checkbox for the values you wish to include in the filter.

  5. Click the Save and Close button.