A Note on Configurations

A brief note on configuration is covered in this topic.

Oracle Banking Retail Accounts

• Business Product Definition: OBA Retail allows definition of Business products with different variants to cater to specific target market segments and these products are broadly classified under Savings and Current/Checking.

  User can configure the product parameters which are grouped under logical data segments and modify as per the business needs. The key logical data segments are Features and Preferences, Overdraft, Statement, and Status Management and Regulatory Compliance. The Interests that are applicable are configured in the Interest data segment by attaching Interest product.

  Few of the product level parameters are defaulted during account creation. This defaulting enables better control on the operations and quick onboarding of accounts in the system.

• Additional Configuration for Retail and Servicing
  • Account Holder Roles or Joint Holder Types: User can define various roles which an account holder can be tagged like Authorized signatory, Power of attorney, etc.
  • Relationship Types: User can define the various relationships which can be established between the account holders. For example, mother, father, son, daughter, etc.
  • Mode of Operations (Applicable for Joint accounts): User can configure the allowed Operating Instructions for joint accounts like Jointly, Either or Survivor, etc.
  • Business Process: This configuration helps the user to build desired workflow for servicing transactions by defining the stages, respective data segments, checklists, documents required, and advice generation for the stages.
  • Servicing Preferences: This configuration is used for maintaining transaction codes for Debit and Credit, Exchange Rate Details, and Offset GL details which are for servicing transactions.

Oracle Banking Retail Deposits

• Business Product Definition: User can define business products with different variants to cater to specific target market segments and these products are broadly classified under Term Deposits.

  Product parameters are grouped under logical data segments and can be modified as per the business needs. The key data segments are Features, Tenure Parameters, Default Maturity Instructions, and Rate chart parameters. The interest applicable are also configured in the Interest data segment by attaching Interest product.

  Few of the product level parameters are defaulted during deposit creation. This defaulting enables better control on operations and quick onboarding of deposits in the system.

• Deposit Pay-in Maintenance: User can maintain the required GL to support the internal account as one of the deposit pay-in options.