Managing Financial Service Applications

This chapter describes how to use Siebel Financial Services Customer Order Management for Banking. It includes the following topics:

About Managing Financial Service Applications

Siebel Financial Services Customer Order Management for Banking provides financial institutions with a graphical user interface that allows bank sales representatives to create and manage orders for financial services through their entire life cycle. The Financial Applications screen provides users with a way of viewing orders for financial products and services. This information includes contact summary, financial account summary, account balances, and financial product details.

Siebel Financial Services Customer Order Management for Banking allows users to:

Create orders for financial products and services
Create orders to modify existing financial products and services
Generate order information for submission to back-office billing and fulfillment systems
Create and maintain financial applications for multiple product types, which includes checking accounts, savings accounts, credit card accounts, or debit card accounts, and so on.

About Using Siebel Configurator to Customize Financial Products

You can use Siebel Configurator to customize financial products in a quote or order. Customizing might involve adding components to one or more financial products within a quote or an order. You can use Siebel Configurator to:

Associate additional products and services affiliated with an account
Associate applicants with financial products
Set up owners and owners’ roles for contacts

Process of Creating a Financial Services Application

This process covers special features of orders for Oracle Financial Services that are different from the standard features of Siebel Order Management. For information about standard order management, see Siebel Order Management Guide.

To create orders for financial services, perform the following tasks:

Creating the Order for a Financial Services Application

This topic describes how to start a new order from a number of screens:

If you start the order from the Contact screen, your Siebel application automatically copies information from that screen into the order.
If you start the order using the Financial Applications screen, you must enter all this information manually.

Note: Although users might start the order management for financial services process at a number of different screens and views, the underlying cycle for order management for financial services is the same.

This task is a step in Process of Creating a Financial Services Application.

To create the order for a financial services application

Perform one of the following tasks, depending on which screen you want to start the order from:
- To start an order from a contact, navigate to the Contacts screen, then to the list view. Drill down on the name of the record with which the order will be associated, and click the Summary tab.
- To start an order from the Contact Needs Analysis view, navigate to the Contacts screen, the list view, and then the Needs Analysis view.
- To start an order from the Households Needs Analysis view, navigate to the list view, and then the Needs Analysis view.
- To start an order from the Financial Applications screen, navigate to the Financial Applications screen, then the List view.
Note: If you start the order from a contact, or from other information, your Siebel application copies the relevant information to the order.
In the My Sales Order list, add a new record. The information in the following table is added automatically.

Field	Description
Order #	Displays a unique number assigned to the order when the order is created.
Status	New orders are assigned a status of Pending. The status can be changed later while the order process continues. Some of the statuses companies often use for sales orders include Open, Awaiting Approval, Approved, Complete, Booked, In Transit, Shipped, and Cancelled.
Priority	The priority of the order. New orders are assigned a priority of Medium.
Revision	The version associated with the order. When the order is created, this value is typically 1. The number is incremented every time the order is revised. For details see, Revising a Financial Services Application.
Sales Rep	Displays the name of the current user.
Created	The date and time the order was created.

Adding Multiple Applicants to a Financial Services Application

When you have created an order for a financial services application, you can add other applicants to the financial services application. All individuals required for the process of adding applicants to a financial services application must be captured as applicants at this time.

This task is a step in Process of Creating a Financial Services Application.

To add multiple applicants to a financial services application

Navigate to the Financial Applications view.
In the Orders list view, drill down on the record for the appropriate order by clicking the Order Number field, and then the Applicants view tab.
Click New.
In the Applicants list, do one of the following:
- Select an existing contact, and click OK.
- Perform a query to choose an existing contact, and click OK.
Click OK.

Applying for Financial Products from a Needs-Analysis Recommendation

You can collect additional, financial-needs information from the customer about income and financial goals. Then use the Needs Analysis view in the Household summary view to generate a list of product recommendations. 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.

Note: The needs analysis for a household is based on the primary contact of a household. Before performing a needs analysis, the primary contact must be set. For more information regarding contacts and households, see Siebel Finance Guide.

This task is a step in Process of Creating a Financial Services Application.

To add financial products from needs-analysis recommendations

Navigate to the Contacts screen, then the Contacts List view.
In the Contacts list, drill down on the contact.
Click the Needs Analysis view tab.
Scroll down to see the generated recommendations.
In the Recommendation list, drill down on the Product Name field to view further information about the product.
To apply for a specific product, select the Apply field.
Click Apply for Product.

Adding Financial Products to an Application by Browsing a Catalog

While users are creating quotes or orders, they can select products by browsing the product catalog. Some products might also have deals associated with them, which the user can select to obtain special pricing for a customer.

This task is a step in Process of Creating a Financial Services Application.

To browse the catalog to add financial products to an application

Navigate to the financial application to which you want to add items.
Click the Catalog view tab.
In the Browse list, click one of the categories.
The products in that category appear.
If you want to select a simple product with attributes, you can modify the values of the attributes in the Items list.
Modifying attributes in the catalog is optional. You can also select attributes after adding the product as a line item.
Click Add Item to add a product.

Collecting Identity Information

Identity checks are a critical step in the process of opening a new financial account and they require valid forms of identification from a customer. This information is collected for compliance purposes. Identity checks consist of the following components:

Collection of identity information. Includes a customer’s passport, social security card, or birth certificate.
Office of Foreign Assets Control Regulations (OFAC). Enforces economic and trade sanctions against targeted foreign countries, terrorists, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction. OFAC acts to prevent prohibited transactions, which are described by OFAC as trade or financial transactions and other dealings in which U.S. persons may not engage unless authorized by OFAC or expressly exempted by statute. This task is a step in Process of Creating a Financial Services Application.

To collect identity information

Navigate to the Financial Applications screen, then the List view.
In the Orders list view, drill down on the record for the appropriate order by clicking the Order Number field, and then click the Applicant view tab.
In the Identity Information view, click New.

In the Identity Information applet, complete the necessary fields. Some fields are described in the following table.

Field	Description
Type	Select Identity Check.
Document Type	Select the type of document used to verify the applicant’s identity. The options include: Passport Drivers License Birth Certificate
Country	Select the country that issued the document used to verify the applicant’s identity. The options include: United States Other
Overide Reason	If the Override check box is selected, you must provide an Override Reason. The options include: Minor - No Docs Required Non-Relevant Role - No Docs Required Other

Click OK.
Use the following procedure to collect OFAC information,

To collect OFAC information

Navigate to the Financial Applications screen, then the List view.
In the Orders list view, drill down on the record for the appropriate order by clicking the Order Number field, and then click the Applicant view tab.
In the Identity Information applet, click Type, and then select OFAC Check.

Using Siebel Configurator to Customize Financial Products

Siebel Configurator is used to customize financial products in a quote or order. You can use the Customize button to start a Configurator session. The Customize button is enabled when the customizable product is selected in the Quote or Order Line Items view. Customizing might involve adding components to one or more products within the quote.

You can also use the Modify or Revise buttons in the Financial Applications view to start a Configurator session.

You can use Siebel Configurator to:

Add components to a financial product
Associate contacts with a financial product
Set up owners and roles for a financial product

This task is a step in Process of Creating a Financial Services Application.

Associating Applicants and Roles with Financial Products

You can use Siebel Configurator to assign applicants and roles to financial products and components.

To associate an applicant and role with a financial product

Navigate to the quote or order that contains the product that you want to configure.
In the Line Items list, select the line item that contains the product with components, or add a new record for a product with components.
With the customizable product selected, click Customize to start a configuration session.
On the Siebel Configurator screen that is displayed, do the following:
1. Owners appears. Click Add Relationship to add an empty applicant row.
2. Select an applicant name. You can select applicants associated with this Quote or Order.
3. In the Role menu, select Owner.
4. Click OK.
5. Click Save, then Done to return to the Line Items view.
Repeat this step to add additional applicants to the financial product.
When the component is added to the financial product, click Done.

Submitting the Financial Application

After, a user has completed the information for an order, the user submits it. Submitting the order typically sets the status to Open. Before users submit an order, they might want to check to make sure it has an Active status, current dates, and that any customizable products have been configured appropriately.

This task is a step in Process of Creating a Financial Services Application.

To submit a financial application

Navigate to the Financial Applications screen, then the Financial Applications List view.
In the Orders list, drill down on the order number that you want.
The Sales Order form and Line Items list appear displaying details of the order.
In the Sales Order form, click Submit.
The Status changes to Open for the order and for any line items that were previously pending.

Revising a Financial Services Application

A user can revise a customer's financial services application before it has been submitted for fulfillment, which creates a new version of the same financial services application. Revising helps a user keep track of changes as the order evolves. This tracking information is useful when adding or deleting products. You can also use it when an order has expired.

When a user revises an order, the status field is automatically set to Pending. The Revise feature allows a user to revise the original order by creating a new order record with the same order number. The versions are distinguished by a revision number. All revisions of an order appear in the order list.

Making changes to an order does not automatically create a new version of the order. If the user wants to keep the original order and have a revision, the user must create a revised order.

Note: When an end user revises an order, the original order becomes inactive and read-only.

For more information about revising a financial services applications, see Siebel Finance Guide.