Siebel Order Management Guide Addendum for Financial Services > Overview of Siebel Financial Services Customer Order Management for Banking >

Scenario for Siebel Financial Services Customer Order Management for Banking

This scenario provides an example of how Siebel Financial Services Customer Order Management for Banking can be used for opening a new financial account. Your company might follow a different process depending on its business requirements.

• Capturing contact and household information. When a customer at a retail bank branch expresses interest in your products and services, you can keep track of that information and help the customer identify the appropriate financial solution. A bank sales representative captures the customer's personal information, such as contact names, applicable addresses, dates of birth, and other relevant information. If the bank sales representative believes that the customer's family will be banking together in the future, a household can be created that links all of the family members to the same account. The bank sales representative can also create opportunities to help customers through the needs-analysis process and records the best solution to meet the customer's needs. For more information on households, see Siebel Finance Guide.
• Needs-analysis. The bank service representative collects additional financial needs information from the customer about income, assets, and financial goals. The bank service representative uses the Needs Analysis view in the Household summary view to generate a list of product recommendations.
• Creating a financial application. The list of product recommendations includes individual financial products as well as product packages and bundles related to the criteria entered during the needs-analysis process. The bank service representative selects the financial product bundle that best suits the needs of the customer, and then applies for the product.
• Creating quotes. Optionally, after the best solution is identified, you can provide a quote that details the products and their prices. A bank sales representative converts an opportunity to a quote, or creates a quote manually. Products and services are customized so that your customers specify exactly what options they are interested in and see the associated prices for each option.
• Identity and fraud checks. The bank service representative captures identity information and conducts identity and fraud checks for each applicant. If the identity or fraud check does not pass successfully, the bank service representative advises the customer accordingly, and closes the order with a status indicating an unsatisfactory identity or fraud check.
• Reviewing the financial application. Once the application and identity checks are completed, the bank service representative ensures all basic fields on the new financial application are completed.
• Adding products to the financial application. The bank service representative navigates to the Catalog view to browse for financial products. The bank service representative can select additional product packages from the catalog using the Add Item link.
• Customizing products. When the bank service representative is finished adding line items to the order, the bank service representative selects a line item to navigate to the Line Items view. The bank service representative uses the Line Items view to configure each line item for the appropriate set of applicants and can configure any other personalized attributes.
• Submitting financial applications. The bank service representative submits the order for processing and fulfillment. If appropriate, the order is routed for approval by a supervisor. An acknowledgement of the order is automatically sent to the customer by email.
• Closing requirements. The bank service representative performs closing activities, such as collecting trailing documents related to the order and printing the financial services application.
• Revising financial applications. If your customer wants to revise an in-process order after it has been fulfilled, you handle the change by using a contact Asset-Based Ordering workflow.