Automation blocks are advanced pre-built features that you can customize and include in your digital journeys. They cover frequent use cases, such as OCR extraction, identity validation, video streaming and collaboration, marketing campaigns management, electronic signatures, digital documents, etc.
Some of the automation blocks, such as Business Formulas or the Business Workflows Processor are included in FintechOS Studio.
Others are distributed via SysPacks and must be installed separately. You can use SysPacks to install automation blocks for: OCR extraction, identity validation, Video streaming and collaboration, digital documents management and signing, marketing campaigns management, task management, business decisions, and so on. You can read more about this on the dedicated Automation Blocks documentation.
Business workflows help organizations coordinate tasks between people and synchronize data between systems, with the ultimate goal of improving efficiency and responsiveness.
Workflow stages show the status of a record in the workflow and provide processing that must occur for the record to move to the next phase. The tasks, information or documents are passed from one status to another (from one participant to another for action) either manually or triggered by business rules or actions specified for that specific status.
Business rule transitions enforce business logic, such as checking if the user has entered the required data or has proper security to perform a transition.
FintechOS Studio comes with the Business Workflows Processor pre-installed.
Formulas process different inputs from your digital journeys (such as income, age, assets, risk class, etc.) in order to generate desired outputs (such as credit scores, insurance premiums, interests, etc). It is mainly used to define mathematical and logical calculations that support various business needs.
FintechOS Business Formulas allow users to create advanced computations based on data imported from Excel.
You can implement multi-step calculations, using a variety of data types and built-in functions. An embedded data sets feature allows you to reference predefined value mappings between sets of discriminants (such as age, sex, driving experience, etc) and specific metrics (such as a risk coefficient).
The advantages are:
- Ability to import large Excel data sets such as risk matrices.
- IntelliSense assistance for writing your formulas in the Formula editor.
- Large array of built-in functions.
In FintechOS Studio, you can set an automation script to run periodically by using the Scheduling feature. A scheduled job can be set up to run at a fixed interval of time starting with Start Time (Pool Time) or using a Cron Expression.
Pool Time - Refers to the number of threads that can be pooled at once by the underlying Thread Pool Executor the notional number of methods that can be run at the same time.
Cron Expression - Cron runs as a daemon process. This means it only needs to be started once and it will keep running in the background. This process makes use of crontab to read the entries of the schedules and kicks off the tasks. Each line in cron is an entry with an expression and a command to run. This entry runs the mentioned script every single minute.