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Financial Account Administration

This section provides those with the required administrative responsibilities, such as Siebel administrators, with background information about financial accounts. This information is helpful for understanding the administrative tasks described in subsequent sections.

A financial account is an instance of a financial product. For example, a checking account is an instance of a checking product. Therefore, you must first establish a library of products in Siebel Finance. These products should correspond to the financial account types that are being retrieved from the back-end system. For more information about setting up products, see Managing Products and Pricing.

Siebel Finance provides users with information about the financial accounts in their portfolios. There are two broad categories of financial accounts: assets and liabilities. For each of these categories, there are also multiple account types. Siebel Finance dynamically modifies certain applets to provide information that is specific to certain financial account products. This modification increases the relevance of the data provided for each individual account.

For example, for Certificates of Deposit (CDs), Siebel Finance presents the user with the maturity date and the withdrawal penalty; for loan accounts, risk-rating and payoff amounts are also displayed. It is the Type attribute that determines the set of detailed information displayed for financial accounts associated with the product. Types include:

  • Analysis Accounts
  • Certificates of Deposit
  • Credit Cards
  • Demand Deposit Accounts
  • Facility
  • Investments
  • Loans
  • None
  • Retirement
  • Savings and Money Market Accounts
  • Trust Accounts

Financial institutions can also expand the account types supported by Siebel Finance through the use of Siebel Tools. For more information about Siebel Tools, see Using Siebel Tools.

Examples of financial account products include business checking accounts, 180-day certificates of deposit, market interest accounts, and revolving lines of credit. An account held by a client is considered an instance of one of these products. For example, a $1,000,000 loan can be an instance of the revolving line of credit product.

NOTE:  Many of the products offered by a financial institution will not be related to either Assets or Liabilities.

The ATM Card Administration view provides information about cards associated with an account. The Siebel Finance data model allows establishing many-to-many relationships between Financial Accounts and ATM Card records. Although the out-of-the-box ATM Card Administration view allows users to add ATM Cards to Financial Account records, typically such transactions are accomplished through the initiation of a Service Request to a back-end system.

Account Categories and Types

For the Financial Accounts screen to function properly, Siebel administrators must establish the Account Category and Account Type attributes of each product.

For more information about defining products, see Product Administration Guide.

Siebel Finance Guide