Predefined Banking Products
When you decide to offer your customers new products, you can benefit from a faster time to market by using our sample banking products that come along with the accelerators. You can also use the sample banking products to test them out in digital journeys before modifying and transforming them into your very own products, ready to be launched on the market.
The Retail Digital Onboarding solution comes with a series of pre-configured, ready to use banking products, as follows:
Premium Pack, and
Euro Pack. These products are quite similar, being set up as credit cards, with a few differences such as the value of the monthly administration fees and the product features.
Use these products as they are if you find they fill your business needs, or use them as starting points for your custom products to define tailored offerings for your customers. Based on your business requirements, modify the existing products by versioning them or create new products by duplication, so that they are ready to be used in your journeys.
A credit card is one of the simplest way to have access to funds across multiple geographies and you can consider it a safety net for your customers. With proper planning, the customer might even use less amounts than with a full fledged loan, while your financial institution has attracted a new customer, fully on-boarded with potential for other future business.
Premium Pack banking product was configured as a
Credit Card product type for retail customers who want to open an account with your financial institution and apply for a credit card. There are no availability constraints for customers, who can operate banking transactions in RON, for a negotiable number of months.
The credit card doesn't allow refinancing or any co-debtors, and doesn't require guarantees. The repayment schedule is set for monthly payments, with no grace periods.
To speed up development and implementation time, as well as increase flexibility, use the predefined interest and commissions lists. These are automatically loaded at the contract level, where you can apply the desired ones. To provide predictability of the credit card costs, we've implemented a
Fixed type interest in the list, with a value of 0%, and a RON 10 monthly administration fee. You can set up commissions as you wish, for example for cash withdrawal. Thus, your customers can see up-front the projected costs of the amounts spent from the credit card.
There are no readily available questions linked to the product, but if you need to use such questions in the eligibility and underwriting processes, for example, for filtering out customers with County Court sentences or bankruptcy within a set period of time, you can add as many as you wish. Approve them, then start using them in your journeys to filter out ineligible customers.
For a friction-free contract management process, the product is set up for automatic contract closure after full repayment. More servicing settings for your products can be defined as described here.
Premium Pack comes with a series of product features, such as unlimited free withdrawals from any ATM each month, free account management, an included virtual card and a contactless MasterCard debit card, which you can further edit and customize. It is also associated with a series of other banking products, to offer your customers a wider variety of products to choose from, complementing the current offering:
Current Account RON,
MasterCard Debit Card RON, and
Virtual Debit Card RON. Each of these associated products, configured as current accounts or debit cards, may carry their own costs which add up to the total cost of the accepted offer.