Configuring the Banking Products

This processor creates and maintains products that are used in FintechOS form driven flows and later in digital journeys. To visualize and to administer them, access the dedicated menu for Banking Product Factory within the Innovation Studio. It offers configurations such as product dimensions for commissions and interests and product filters to navigate through the list of products created based on a filtering scope. After installation, the Value-Added Marketplace Powered Lending journey has three banking products configured with the Active status:

HINT
The products from the package that can be used are those that are valid in between the given start date and end date. Additionally, the products which have the Active status are displayed in the journey.

1 Nomad Personal Loan

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the bank account.	Term Loan
Banking Product code	Insert a unique code.	BP1
Name	Insert a suggestive name.	Nomad Personal Loan
Start date	Select the date when to have the product valid.	13/08/2021
End date	Select the date when the product availability ends.	13/08/2024
Benefits	Additional features of the product.	Fixed rate for the entire loan duration Life and unemployment benefits included
Display conditions	The requirements for the product.	Be over 18 years old Have been employed for over 3 months Have an overall employment period of 2 years in the work field Have good credit behaviour

Details

Fields	Description	Example
Banking Account Type	Choose Savings Account from the list.	Loan Term Account
Max No Disbursements	The maximum number of disbursements that can be configured for this product.	1
Max No. Of CoDebtors	Set the maximum number of debtors possible for this product.	10
Periodicity Type	Select the regularity of payments.	Monthly
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Equal Installment Monthly 360

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	USD
Period Type	Choose one: Days Weeks Months Years	Months
Minimum Period	This is the minimum duration of the product mentioned in the contract.	1
Maximum Period	This is the maximum duration of the product mentioned in the contract.	60
Minimum Amount	This is the minimum amount of the product for which the bank opens a contract.	1,000
Maximum Amount	This is the maximum amount of the product for which the bank opens a contract.	100,000

Dimensions

Fields	Description	Example
Interest & Commissions	Represent the money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt and the fees of the bank.	Nomad Personal Loan
Discount	A deduction from the usual cost of the loan.	Income Receiving Travel Insurance

2 Globetrotter Personal Loan

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the bank account.	Term Loan
Banking Product code	Insert a unique code.	BP2
Name	Insert a suggestive name.	Globetrotter Personal Loan
Start date	Select the date when to have the product valid.	13/08/2021
End date	Select the date when the product availability ends.	13/08/2024
Benefits	Additional features of the product.	Fixed rate for the entire loan duration Life and unemployment benefits included
Display conditions	The requirements for the product.	Be over 18 years old Have been employed for over 3 months Have an overall employment period of 2 years in the work field Have good credit behaviour

Details

Fields	Description	Example
Banking Account Type	Choose Savings Account from the list.	Loan Term Account
Max No Disbursements	The maximum number of disbursements that can be configured for this product.	1
Max No. Of CoDebtors	Set the maximum number of debtors possible for this product.	10
Periodicity Type	Select the regularity of payments.	Monthly
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Equal Installment Monthly 360

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	USD
Period Type	Choose one: Days Weeks Months Years	Months
Minimum Period	This is the minimum duration of the product mentioned in the contract.	1
Maximum Period	This is the maximum duration of the product mentioned in the contract.	60
Minimum Amount	This is the minimum amount of the product for which the bank opens a contract.	1,000
Maximum Amount	This is the maximum amount of the product for which the bank opens a contract.	100,000

Dimensions

Fields	Description	Example
Interest & Commissions	Represent the money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt and the fees of the bank.	Globetrotter Personal Loan
Discount	A deduction from the usual cost of the loan.	Income Receiving Travel Insurance

3 Safe Travel Personal Loan

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the bank account.	Term Loan
Banking Product code	Insert a unique code.	BP3
Name	Insert a suggestive name.	Safe Travel Personal Loan
Start date	Select the date when to have the product valid.	13/08/2021
End date	Select the date when the product availability ends.	13/08/2024
Benefits	Additional features of the product.	Fixed rate for the entire loan duration Life and unemployment benefits included
Display conditions	The requirements for the product.	Be over 18 years old Have been employed for over 3 months Have an overall employment period of 2 years in the work field Have good credit behaviour

Details

Fields	Description	Example
Banking Account Type	Choose Savings Account from the list.	Loan Term Account
Max No Disbursements	The maximum number of disbursements that can be configured for this product.	1
Max No. Of CoDebtors	Set the maximum number of debtors possible for this product.	10
Periodicity Type	Select the regularity of payments.	Monthly
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Equal Installment Monthly 360

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	USD
Period Type	Choose one: Days Weeks Months Years	Months
Minimum Period	This is the minimum duration of the product mentioned in the contract.	1
Maximum Period	This is the maximum duration of the product mentioned in the contract.	60
Minimum Amount	This is the minimum amount of the product for which the bank opens a contract.	1,000
Maximum Amount	This is the maximum amount of the product for which the bank opens a contract.	100,000

Dimensions

Fields	Description	Example
Interest & Commissions	Represent the money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt and the fees of the bank.	Globetrotter Personal Loan
Discount	A deduction from the usual cost of the loan.	Income Receiving Travel Insurance

For more details about this automation processor, see Banking Product Factory.