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 SME Mobile Onboarding solution comes with a series of pre-configured, ready to use banking products, as follows: Start-Up Leap, Everyday Easy, and Prime Business. These products are quite similar, being set up as current accounts, 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.

Start-Up Leap

The Start-Up Leap banking product was configured as a Current Account product type for SME customers starting their business, and it was classified as a Business Current Account. There are no availability constraints for customers, who can operate banking transactions in GBP.

To ease the servicing processes for this current account, it was set up to allow top-up and withdrawal transactions. The account was configured without automatic roll over, negotiated interest rate, or overdraft options. If any interest should be defined for the available amount, note that it won't be capitalized and there is no interest payment type set.

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 current account costs, we've implemented a monthly administration fee of a GBP 14, included in the repayment schedule, automatically loaded on contracts. There are no interests configured. Thus, your customers can see up-front the projected costs of the current account.

There are no readily available questions linked to the product. If you want to use such questions in the eligibility and underwriting processes, for example, to filter out customers with County Court sentences or bankruptcy within a set period of time, you can add as many questions as you want based on your product needs. After approving the questions, you can start using them in your journeys to filter out ineligible customers.

To further service your launched loan product in contracts using Loan Management's capabilities, we recommend using the following allowed transactions, which are already linked to the sample product: top up account, withdraw, and transfer between bank accounts. For a friction-free contract management process, the product is set up for automatic contract closure. More servicing settings for your products can be defined as described here.

Start-Up Leap comes with a series of product features, such as free banking for the first 12 moths, mobile banking, and Visa Business 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: E-invoice, Personal Banker, POS system, and Premium Payments. Each of these associated products, also configured as current accounts, may carry their own costs which add up to the total cost of the accepted offer.