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 FintechOS Studio. It offers configurations such as product dimensions for commissions and interests and product filter to navigate through the list of products created based on a filtering scope. After installation, the Mobile Retail Loan Origination journey has 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.

For this solution, several banking products were configured for loans and two for credit cards:

Classic, BP1
Flexibile, BP2
Savvy, BP3
Smart, BP4
Basic, BP5
Shopping Credit Card, CC1
Flying Credit Card, CC2.

The system calculates the input values (amount and period) to return a suggestion from the five loans to the customer. In FintechOS Studio, the values inputted by the customer are registered, afterwards the system calls for the maximum and minimum amounts and periods for each banking product. For details, see the server automation script FTOS_BARET_FilterAvailableProductsAmountAndPeriod. Depending on the values inserted, the system checks to see whether the values are found within the minimum and maximum or each banking product listed above. Then, it lists the top 3 (or less depending on the result) based on the order in the naming of the products. To change the maximum number of three products displayed navigate to the form FTOS_BARET_LoanSimulation, step Simulation, Advanced, After Events and in the code change the property maxProductsDisplayed from 3 to the needed number in the array params.

1 Classic

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the entry bank account.	Term Loan
Banking Product code	Insert a unique code.	BP1
Name	Insert a suggestive name.	Classic
Class	This ladder is designed to categorize the major banking products any bank offers.	Retail
Subclass	These are subordinated to the classes above.	Loan
Category	This ladder is designed to categorize the banking products.	Unsecured Loan
Start date	Select the date when to have the product valid.	27/05/2021
End date	Select the date when the product availability ends.	01/10/2029
Benefits	Insert the advantages of owning the banking product. You can format the text in the text editor window.	Fixed rate for the entire loan duration Life and unemployment benefits included
Conditions	Insert the conditions for the applicant.	At least 18 years of age Over 3 months period at the current employer 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
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Monthly
Payment Schedule Type	Determine the details about the installments.	Equal Installment Monthly 360

Fields

Description

Example

Banking Account Type

Choose Savings Account from the list.

Loan Term Account

Interest Payment Type

Choose one from the following:

Monthly
Maturity
Yearly
Daily
Quarterly.

Monthly

Payment Schedule Type

Determine the details about the installments.

Equal Installment Monthly 360

Payment Schedule Type Details

Column Repayment Schedule	Calculation Method	Fee	Insurance class	Source
RemainingValue	RemainingFormula
PMT	FixedValue
Interest	Effective Rate
Principal	ColumnFormula
AdministrationFee	FixedValue	Monthly Fee		SourceValue
AnalysisFee	Effective Rate	Analysis Fee		SourceValue
LifeInsurance	Effective Rate		Life Insurance	SourcePercent
TotalInstallment	ColumnFormula

Product Destination Types

A home project caught my eye
For funeral expenses
I am planning a relaxing holiday
I don’t wanna disclose my loan destination
I have a medical urgency
I need some new tech products
I want to buy a car
I want to buy some household items
I want to invest in education
I'm planning a wedding
Legal fees
Other
Shopping is my addiction

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	EUR
Period Type	Choose one: Days Weeks Months Years
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 will open a contract.	1,000
Maximum Amount	This is the maximum amount of the product for which the bank will open a contract.	50,000

Other details:

Fields	Example
Interest & Commissions	fixed interest
Insurance	life insurance
Discounts	income receiving
Risk Formula	Interest Formula. See PMTCalculation from Configuring the Business Formulas.

Documents

Docuement	Operation Code
FEISThe European Fund for Strategic Investment (EFSI) is an initiative launched jointly by the European Investment Bank Group – the European Investment Bank and European Investment Fund and the European Commission to help overcome the current investment gap in the EU. EFSI is one of the three pillars of the Investment Plan for Europe that aims to revive investment in strategic projects around the continent to ensure that money reaches the real economy.	FEIS
CurrentAccountContract	Current Account Contract
InsuranceAgreement	Insurance Policy
PersonalLoanAgreement	Loan Contract

2 BP2

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the entry bank account.	Term Loan
Banking Product code	Insert a unique code.	BP2
Name	Insert a suggestive name.	Flexible
Class	This ladder is designed to categorize the major banking products any bank offers.	Retail
Subclass	These are subordinated to the classes above.	Loan
Category	This ladder is designed to categorize the banking products.	Unsecured Loan
Start date	Select the date when to have the product valid.	27/05/2021
End date	Select the date when the product availability ends.	01/10/2029
Benefits	Insert the advantages of owning the banking product. You can format the text in the text editor window.	9 months grace period Fixed rate for the entire loan duration
Conditions	Insert the conditions for the applicant.	At least 18 years of age Over 3 months period at the current employer 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
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Monthly
Payment Schedule Type	Determine the details about the installments.	Equal Installment Monthly 360

Fields

Description

Example

Banking Account Type

Choose Savings Account from the list.

Loan Term Account

Interest Payment Type

Choose one from the following:

Monthly
Maturity
Yearly
Daily
Quarterly.

Monthly

Payment Schedule Type

Determine the details about the installments.

Equal Installment Monthly 360

Payment Schedule Type Details

Column Repayment Schedule	Calculation Method	Fee	Insurance class	Source
RemainingValue	RemainingFormula
PMT	FixedValue
Interest	Effective Rate
Principal	ColumnFormula
AdministrationFee	FixedValue	Monthly Fee		SourceValue
AnalysisFee	Effective Rate	Analysis Fee		SourceValue
LifeInsurance	Effective Rate		Life Insurance	SourcePercent
TotalInstallment	ColumnFormula

Product Destination Types

A home project caught my eye
For funeral expenses
I am planning a relaxing holiday
I don’t wanna disclose my loan destination
I have a medical urgency
I need some new tech products
I want to buy a car
I want to buy some household items
I want to invest in education
I'm planning a wedding
Legal fees
Other
Shopping is my addiction

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	EUR
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.	57
Minimum Amount	This is the minimum amount of the product for which the bank will open a contract.	1000
Maximum Amount	This is the maximum amount of the product for which the bank will open a contract.	40000

Other details:

Fields	Example
Interest & Commissions	fixed interest
Discounts	income receiving
Risk Formula	Fixed Interest Formula. See PMTCalculation from Configuring the Business Formulas.

Documents

Docuement	Operation Code
FEISThe European Fund for Strategic Investment (EFSI) is an initiative launched jointly by the European Investment Bank Group – the European Investment Bank and European Investment Fund and the European Commission to help overcome the current investment gap in the EU. EFSI is one of the three pillars of the Investment Plan for Europe that aims to revive investment in strategic projects around the continent to ensure that money reaches the real economy.	FEIS
CurrentAccountContract	Current Account Contract
PersonalLoanAgreement	Loan Contract

3 BP3

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the entry bank account.	Term Loan
Banking Product code	Insert a unique code.	BP3
Name	Insert a suggestive name.	Savvy
Class	This ladder is designed to categorize the major banking products any bank offers.	Retail
Subclass	These are subordinated to the classes above.	Loan
Category	This ladder is designed to categorize the banking products.	Unsecured Loan
Start date	Select the date when to have the product valid.	27/05/2021
End date	Select the date when the product availability ends.	01/10/2029
Benefits	Insert the advantages of owning the banking product. You can format the text in the text editor window.	Floating rate for the entire loan duration Lowest monthly cost
Conditions	Insert the conditions for the applicant.	Be over 18 years old Over 3 months period at the current employer 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
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Monthly
Payment Schedule Type	Determine the details about the installments.	Equal Installment Monthly 360

Fields

Description

Example

Banking Account Type

Choose Savings Account from the list.

Loan Term Account

Interest Payment Type

Choose one from the following:

Monthly
Maturity
Yearly
Daily
Quarterly.

Monthly

Payment Schedule Type

Determine the details about the installments.

Equal Installment Monthly 360

Payment Schedule Type Details

Column Repayment Schedule	Calculation Method	Fee	Insurance class	Source
RemainingValue	RemainingFormula
PMT	FixedValue
Interest	Effective Rate
Principal	ColumnFormula
AdministrationFee	FixedValue	Monthly Fee		SourceValue
AnalysisFee	Effective Rate	Analysis Fee		SourceValue
LifeInsurance	Effective Rate		Life Insurance	SourcePercent
TotalInstallment	ColumnFormula

Product Destination Types

A home project caught my eye
I want to buy a car.

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	EUR
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 will open a contract.	1000
Maximum Amount	This is the maximum amount of the product for which the bank will open a contract.	60000

Other details

Fields	Example
Interest & Commissions	floating interest
Discounts	income receiving
Risk Formula	Floating Rate. See PMTCalculation from Configuring the Business Formulas.

Documents

Docuement	Operation Code
FEISThe European Fund for Strategic Investment (EFSI) is an initiative launched jointly by the European Investment Bank Group – the European Investment Bank and European Investment Fund and the European Commission to help overcome the current investment gap in the EU. EFSI is one of the three pillars of the Investment Plan for Europe that aims to revive investment in strategic projects around the continent to ensure that money reaches the real economy.	FEIS
CurrentAccountContract	Current Account Contract
PersonalLoanAgreement	Loan Contract

4 BP4

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the entry bank account.	Term Loan
Banking Product code	Insert a unique code.	BP3
Name	Insert a suggestive name.	Smart
Class	This ladder is designed to categorize the major banking products any bank offers.	Retail
Subclass	These are subordinated to the classes above.	Loan
Category	This ladder is designed to categorize the banking products.	Unsecured Loan
Start date	Select the date when to have the product valid.	27/05/2021
End date	Select the date when the product availability ends.	01/10/2029
Benefits	Insert the advantages of owning the banking product. You can format the text in the text editor window.	Floating rate for the entire loan duration Life and unemployment benefits included
Conditions	Insert the conditions for the applicant.	Be over 18 years old Over 3 months period at the current employer 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
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Monthly
Payment Schedule Type	Determine the details about the installments.	Equal Installment Monthly 360

Fields

Description

Example

Banking Account Type

Choose Savings Account from the list.

Loan Term Account

Interest Payment Type

Choose one from the following:

Monthly
Maturity
Yearly
Daily
Quarterly.

Monthly

Payment Schedule Type

Determine the details about the installments.

Equal Installment Monthly 360

Payment Schedule Type Details

Column Repayment Schedule	Calculation Method	Fee	Insurance class	Source
RemainingValue	RemainingFormula
PMT	FixedValue
Interest	Effective Rate
Principal	ColumnFormula
AdministrationFee	FixedValue	Monthly Fee		SourceValue
AnalysisFee	Effective Rate	Analysis Fee		SourceValue
LifeInsurance	Effective Rate		Life Insurance	SourcePercent
TotalInstallment	ColumnFormula

Product Destination Types

I am planning a relaxing holiday.

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	EUR
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 will open a contract.	1000
Maximum Amount	This is the maximum amount of the product for which the bank will open a contract.	60000

Other details

Fields	Example
Interest & Commissions	Smart
Insuarnce	Smart
Discounts	income receiving
Risk Formula	Smart Formula. See PMTCalculation from Configuring the Business Formulas.

Documents

Docuement	Operation Code
FEISThe European Fund for Strategic Investment (EFSI) is an initiative launched jointly by the European Investment Bank Group – the European Investment Bank and European Investment Fund and the European Commission to help overcome the current investment gap in the EU. EFSI is one of the three pillars of the Investment Plan for Europe that aims to revive investment in strategic projects around the continent to ensure that money reaches the real economy.	FEIS
CurrentAccountContract	Current Account Contract
PersonalLoanAgreement	Loan Contract
InsuranceAgreement	Insurance Policy

5 BP5

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the entry bank account.	Term Loan
Banking Product code	Insert a unique code.	BP3
Name	Insert a suggestive name.	Basic
Class	This ladder is designed to categorize the major banking products any bank offers.	Retail
Subclass	These are subordinated to the classes above.	Loan
Category	This ladder is designed to categorize the banking products.	Unsecured Loan
Start date	Select the date when to have the product valid.	27/05/2021
End date	Select the date when the product availability ends.	01/10/2029
Benefits	Insert the advantages of owning the banking product. You can format the text in the text editor window.	Fixed rate for the entire loan duration Most versatile
Conditions	Insert the conditions for the applicant.	Be over 18 years old Over 3 months period at the current employer 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
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Monthly
Payment Schedule Type	Determine the details about the installments.	Equal Installment Monthly 360

Fields

Description

Example

Banking Account Type

Choose Savings Account from the list.

Loan Term Account

Interest Payment Type

Choose one from the following:

Monthly
Maturity
Yearly
Daily
Quarterly.

Monthly

Payment Schedule Type

Determine the details about the installments.

Equal Installment Monthly 360

Payment Schedule Type Details

Column Repayment Schedule	Calculation Method	Fee	Insurance class	Source
RemainingValue	RemainingFormula
PMT	FixedValue
Interest	Effective Rate
Principal	ColumnFormula
AdministrationFee	FixedValue	Monthly Fee		SourceValue
AnalysisFee	Effective Rate	Analysis Fee		SourceValue
LifeInsurance	Effective Rate		Life Insurance	SourcePercent
TotalInstallment	ColumnFormula

Product Destination Types

A home project caught my eye
For funeral expenses
I am planning a relaxing holiday
I don’t wanna disclose my loan destination
I have a medical urgency
I need some new tech products
I want to buy a car
I want to buy some household items
I want to invest in education
I'm planning a wedding
Legal fees
Other
Shopping is my addiction

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	EUR
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 will open a contract.	1000
Maximum Amount	This is the maximum amount of the product for which the bank will open a contract.	60000

Other details

Fields	Example
Interest & Commissions	Basic
Discounts	Basic
Risk Formula	Basic. See PMTCalculation from Configuring the Business Formulas.

Documents

Docuement	Operation Code
FEISThe European Fund for Strategic Investment (EFSI) is an initiative launched jointly by the European Investment Bank Group – the European Investment Bank and European Investment Fund and the European Commission to help overcome the current investment gap in the EU. EFSI is one of the three pillars of the Investment Plan for Europe that aims to revive investment in strategic projects around the continent to ensure that money reaches the real economy.	FEIS
CurrentAccountContract	Current Account Contract
PersonalLoanAgreement	Loan Contract

6 CC1

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the entry bank account.	Credit Card
Banking Product code	Insert a unique code.	CC1
Name	Insert a suggestive name.	Shopping Credit Card
Class	This ladder is designed to categorize the major banking products any bank offers.	Retail
Subclass	These are subordinated to the classes above.	Loan
Category	This ladder is designed to categorize the banking products.	Credit Card
Start date	Select the date when to have the product valid.	27/05/2021
End date	Select the date when the product availability ends.	01/10/2029
Benefits	Insert the advantages of owning the banking product. You can format the text in the text editor window.	Earn up to 2% cash back Free 2-day shipping on Amazon.com

Details

Fields	Description	Example
Banking Account Type	Choose Savings Account from the list.	Loan Term Account
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Monthly

Fields

Description

Example

Banking Account Type

Choose Savings Account from the list.

Loan Term Account

Interest Payment Type

Choose one from the following:

Monthly
Maturity
Yearly
Daily
Quarterly.

Monthly

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	EUR
Period Type	Choose one: Days Weeks Months Years	Months
Minimum Amount	This is the minimum amount of the product for which the bank will open a contract.	500
Maximum Amount	This is the maximum amount of the product for which the bank will open a contract.	5000

Document

Document	Operation Code
CreditCardContract	Credit Cart Contract

7 CC2

This banking product has the following configurations:

Main Info

Fields	Description	Example
Product Type	Select from the list the entry bank account.	Credit Card
Banking Product code	Insert a unique code.	CC2
Name	Insert a suggestive name.	Flying Credit Card
Class	This ladder is designed to categorize the major banking products any bank offers.	Retail
Subclass	These are subordinated to the classes above.	Loan
Category	This ladder is designed to categorize the banking products.	Credit Card
Start date	Select the date when to have the product valid.	27/05/2021
End date	Select the date when the product availability ends.	01/10/2029
Benefits	Insert the advantages of owning the banking product. You can format the text in the text editor window.	4 Upgraded Boardings a year 9,000 points on each card member anniversary.
Product Features	Added details about the benefits of the card.	No balance transfer fee Travel perks.

Details

Fields	Description	Example
Banking Account Type	Choose Savings Account from the list.	Loan Term Account
Interest Payment Type	Choose one from the following: Monthly Maturity Yearly Daily Quarterly.	Monthly

Fields

Description

Example

Banking Account Type

Choose Savings Account from the list.

Loan Term Account

Interest Payment Type

Choose one from the following:

Monthly
Maturity
Yearly
Daily
Quarterly.

Monthly

Availability

Fields	Description	Example
Currency	Choose the currency for this banking product.	EUR
Period Type	Choose one: Days Weeks Months Years	Months
Minimum Amount	This is the minimum amount of the product for which the bank will open a contract.	500
Maximum Amount	This is the maximum amount of the product for which the bank will open a contract.	5000

Document

Document	Operation Code
CreditCardContract	Credit Cart Contract

Discounts

Banking Product	Value of the Discount applied
Smart	1.5
Savvy	1
Basic	2
Flexible	1
Classic	1

For more details about this automation processor, see Banking Product Factory v2.2.6000.