1.1.1.1 Business Product Details

This topic describes the systematic instructions to create business product details.

The Business Product Details is the first data segment to create a Business Product application.

To configure business product details:

  1. On Home screen, click Retail Banking. Under Retail Banking, click Configurations.
  2. Under Configurations, click Business Product.
  3. Under Business Product, click Create Business Product.

    The Business Product Details screen displays.

    Figure 1-1 Business Product Details


    Description of Figure 1-1 follows
    Description of "Figure 1-1 Business Product Details "

  4. On Business Product Details screen, specify the required fields.

    Note:

    The fields, which mentioned as Required, are mandatory.
    For more information on fields, refer to the field description table.

    Table 1-1 Business Product Details – Field Description

    Field Description
    Product Type

    Select the product from the drop-down list.

    The available options are:

    • Savings Account
    • Current Account
    • Loan Account
    • Term Deposit Account
    • Credit Card
    • IRA Savings
    • IRA Certificate of Deposit
    Product Category

    Select the product category.

    The available options are

    • Individual
    • Small and Medium Business

    If Product Type is selected as Credit Card, the system defaults as Individual in read-only mode.

    Product Sub Type

    Select the product sub-type from the drop-down list.

    This field appears and is supported for the below listed Product types and the respective product categories only.

    1. Loan Account
      • Home Loan (Individuals)
      • Vehicle Loan (Individuals)
      • Education Loan (Individuals)
      • Personal Loan (Individuals)
      • Loan Against Deposits (Individuals)
      • Business Loan (Small and Medium Business)
      • Term Loan (Small and Medium Business)
    2. Term Deposit
      • Simple Term Deposit
      • Reinvestment Term Deposit
    3. Credit Card
      • Retail Credit Card

    This field is not applicable for Saving Account, Current Account, IRA Savings, and IRA Certificate of Deposit.

    Business Product Code

    Specify the business product code.

    NOTE: Maximum length of business product code should not be more than 6 characters. Alphanumeric and alphabets should be in capital.

    Business Product Name Specify the business product name.
    Business Product Start Date

    Select the start date from calender as per the business requirement.

    System displays the logged in application date in Start Date by default.
    Business Product Expiry Date

    Select the expiry date from calender as per the business requirement.

    User must set the expiry date ahead of the Start Date and the Business Product Review Date.

    Business Product Review Date Select the review date as per the business requirement.

    User must set review date ahead of the Business Product Start Date and earlier than the Business Product Expiry Date.

    First Home Buyer Applicable

    Switch to Toggle ON to indicate that first home buyer feature is applicable for the specified product.

    This field appears if the Loan Account option and Home Loan option is selected from the Product Type list and Product Sub Type list respectively.

    Channel Allowed

    Select the channels which are allowed for the business product from the drop-down list.

    The available options are:

    • RPM
    • OBDX
    Fintech Allowed Switch to Toggle ON to support the business product for Origination from Fintech Companies.
    Fintech Name

    Select the Fintech Company name from the drop-down list. System allows selection of multiple companies.

    This field appears only if Fintech Allowed toggle is turned ON.

    IPA Applicable

    Switch to Toggle ON to indicate that the In-Principal Approval (IPA) is applicable for loan. By default, toggle button is turned OFF.

    This field appears if Product Type is selected as Loan and Product Category is selected as Individuals.

    Loan Simulation Allowed

    Switch to Toggle ON to indicate that the loan simulation is allowed for loan. By default, toggle button is turned OFF.

    This field appears if a Product Type is selected as Loan and a Product Category is selected as Individuals.

    Quick Assessment Allowed

    Switch to Toggle ON to indicate that the quick assessment is allowed for loan. By default, this toggle button is turned OFF.

    This field appears if Loan Simulation Allowed toggle is turned ON.

    Quick Account Opening Switch to Toggle ON to indicate whether the quick account opening for loan. By default, this toggle button is turned OFF.

    This field appears if Quick Assessment Allowed toggle is tuned ON.

    Application Submission is Mandatory

    Switch to Toggle ON to make the Application Entry stage as mandatory in Product Details data segment for the business product.

    This configuration will be possible only if the Application submission configuration is set as Y. Refer to the Application Submission Configuration topic for detailed explanation.

    Refinance Allowed Switch to Toggle ON to indicate whether the Refinance facility is applicable for loan. By default, this toggle button is turned OFF.

Parent topic: Create Business Product