Data Model Description

If you want to help your customers know beforehand the costs of opening a debit card with a current account and the product options that are suitable for their needs, you can use a predefined industry standard data model for retail onboarding, such as the one available with Retail Digital Onboarding, which you can further customize and tailor to your business needs.

The Retail Digital Onboarding solution's data model was built based on the business entities created in FintechOS Studio. It contains both entities used throughout several solutions, defined in the Common Data Model, which covers the most important industry-specific entities and data sets referring to applications, applicants, or products, as well as extensions, which are business-specific entities needed for this use case. The main entity holds details about the application and stays at the center of the data model keeping the important business information, and a series of other entities are inter-connected in a logical manner, describing the entire business logic of the solution.

The account application is the central object of this accelerator and it is stored in the Application entity, hereby considered the main entity of the data model. It contains information about the application form (number, date, and type), the name of the applicant, the banking product opted for along with currency, and the contract type generated for the account, if any.

Each application record is linked to a series of other records from entities that hold business-relevant data. The data model stores records about the retail applicant who submits the application, their address, fiscal address, financial and detailed data, the banking products offered, any documents referring to the application, either submitted by the applicant or generated as a result of the application, the applicant's feedback, and so on.

The data model contains entities designed specifically to hold data for the following:

• the application process (with details such as application number and date, applicant name, or banking product);

• the person who applied for the product;

• the address and the fiscal residence of the applicant;

• the financial data and of the retail applicant;

• the documents submitted by the applicant and generated as a result of the application process;

• the information about the banking products that can be applied for;

• the applicant's financial information;

• the actual application process;

• any promotional codes for discounts;

• the feedback of the applicant.