1. Retail Accounts User Guide (US Regionalization)
  2. Configurations
  3. Business Product
  4. Create Business Product

1.1.1 Create Business Product

This topic describes the systematic instructions to create business product. The maintenance screen allows the user to configure business product parameters.

  1. On Home screen, under Menu, click Retail Account Configurations. Under Retail Account Configurations, click Business Product.
  2. Under Business Product, click Create Business Product.
    The Create Business Product screen displays.

    Figure 1-1 Create Business Product – Basic Details


    Description of Figure 1-1 follows
    Description of "Figure 1-1 Create Business Product – Basic Details"

  3. Specify the fields on the Basic Details screen.

    For more information on fields, refer to the field description table below.

    Table 1-1 Basic Details - Field Description

    Field Description
    Product Code Specify the product code. This is used for the creation of accounts.
    Description Specify the description for the business product.
    Account Type Specify the type of the account. The different types of accounts are:
    • Savings
    • Current
    Account Code As per your bank’s requirement, you can choose to classify business products into different account codes. The bank can decide the way the business products are to be assigned to different account codes.

    The business product or an account code can be part of the customer account mask.

    If the customer account mask consists of an account code, the value in this field is replaced in the account number.
    Validity Specify the validity period of the business product by specifying the start date and the end date.

    End date is optional.
  4. After specifying the fields in the Basic Details screen, click Next.
    The Features screen displays.

    Figure 1-2 Create Business Product – Features


    Description of Figure 1-2 follows
    Description of "Figure 1-2 Create Business Product – Features"

  5. Specify the fields on Features screen.

    For more information on fields, refer to the field description table below.

    Table 1-2 Features - Field Description

    Field Description
    Limit Check Required Select to indicate that the limit check for sufficient availability of funds in the account is made for the accounts belonging to this business product.

    The default value is No.

    Available Balance Check Required Select this box to enable the system to check for the available funds before posting a debit entry to a customer account.

    The default value is No.

    Defer Balance Update For Debit Select to defer the balance update. If Defer Balance Update for Debit is selected, then the balance after debit transactions will be updated during EOD.

    The default value is No.

    Defer Balance Update For Credit Select to defer the balance update for credit transactions. If Defer Balance Update For Credit is selected, then the balance after credit transactions will be updated during EOD.

    The default value is No.

    IBAN Required Select if IBAN is required for the business product.

    The default value is No.

  6. After specifying the fields in the Features screen, click Next.
    The Preferences screen displays.

    Figure 1-3 Create Business Product – Preferences


    Description of Figure 1-3 follows
    Description of "Figure 1-3 Create Business Product – Preferences"

  7. Specify the fields on Preferences screen.

    For more information on fields, refer to the field description table below.

    Table 1-3 Preferences - Field Description

    Field Description
    ATM Required Select this check box if you need to avail the ATM facility for the accounts belonging to that business product. The default value is No.
    Passbook Required Specify whether passbook is required or not for the account under the business product.

    The default value is No.

    Cheque Book Required Specify whether cheque book is required or not for the account under the business product. When it is cleared, the preference is disabled for the account.

    The default value is No
    Auto Reorder of Cheque Book Specify whether cheque book should be replenished automatically when cheque leaves are getting exhausted.

    This option appears only if Cheque Book Required is set to Yes.

    Reorder Level Specify the threshold for auto reorder of cheque book.
    Reorder Number of Leaves Specify the number of leaves to be issued with the cheque book.
    Direct Banking Required This option indicates whether direct banking is required for accounts under the business product.

    The default value is No.

    When it is enabled, a window appears with the following options.

    Click add icon to add a direct banking channel. A new row is added with the below fields.
    • Banking Channel - Banking channels maintained in Static Type Maintenance, are listed here as permissible channels for the business product. Channels include Internet Banking, Interactive Voice Response, Mobile, ATM, Credit Card and so on.
    • Channel Name - This field indicates the name of the banking channel. For example, ATM is the banking channel name for Automated Teller Machine.
    • Remarks - – Captures remarks for the channel.
  8. After specifying the fields in the Preferences screen, click Next.
    The Limits screen displays.

    Figure 1-4 Create Business Product – Limits


    Description of Figure 1-4 follows
    Description of "Figure 1-4 Create Business Product – Limits"

  9. Specify the fields on Limits screen.

    For more information on fields, refer to the field description table below.

    Table 1-4 Limits - Field Description

    Field Description
    OD Facility Required Select this toggle to specify if Overdraft facility can be availed by accounts belonging to this business product.

    The default value is No.

    If OD Facility Required set to Yes. It will display the below fields.

    Uncollected Funds Margin(%) Specify the margin in percentage terms that will be held on the uncollected funds while offering AUF limit to an account. AUF margin must be between 0 to 100.
    Fund Utilization Sequence Users can select the fund utilization sequence for accounts.
    • Click add icon to add a sequence. A new row is added with the below fields.
      • Source Code – This field indicates the source through which the transaction can be sent for an account.
      • Sequence – Only two values are available, BOATL and BOATLV.
        • B (Balance) - Balance refers to clear balance available for debits at account.
        • O (Overdraft Limit) - OD Limit Applies to account level OD limits. Multiple limits of this category can be active simultaneously.
        • A - AUF Limit granted against uncollected funds available in the account. Only one active limit allowed at any point of time.
        • T (Temporary) - Temporary OD granted at the account.
        • L (Local) - Local Limit Facility refers to local facility. Limits captured under Line Linkage Details section under
        • V - Overline refers to the utilization over and above the sanctioned limits.
  10. After specifying the fields in the Limits screen, click Next.
    The Interest screen displays.

    To calculate interest for an account, you must apply an interest product code on the account. To recall, every interest product code that you create is linked to an interest rule. The logic to calculate interest is built into an interest rule. When you apply an interest product code on the account, interest for the account will be calculated according to the interest rule definition.

    For the account for which you are defining special conditions choose the product(s) that you wish to apply. To recall, you can define a Special Condition for an account only if the business product of the account has a General Condition defined for the product. Thus, the pick-list from where you select the product for which you want to define a Special Condition will contain products that satisfy one of the following conditions:
    • a General Condition has been defined for the product and business product combination
    • the product has been defined as a special conditions only product

    The interest rule that is linked to the product(s) will determine the interest that is applied on the account. You may want to apply more than one interest product code on an account. For example, you may want to pay credit interest on the credit balance maintained in a current account and levy a debit interest if the account lapses into a debit balance. In order to achieve this, you would have to apply two product codes (one defined for credit interest and another defined for debit interest). In this screen, you can choose the interest product codes that you want to apply on the account.

    Figure 1-5 Create Business Product – Interest


    Description of Figure 1-5 follows
    Description of "Figure 1-5 Create Business Product – Interest"

  11. Specify the fields on Interest screen.

    For more information on fields, refer to the field description table below.

    Table 1-5 Interest - Field Description

    Field Description
    Interest Select this check box to indicate that the interest is applicable for the accounts with this business product.

    The default value is No.

    Set Interest Required to Yes to display all the below Fields.
    Click Add icon to add a sequence. A new row is added with the below fields.
    • Product Code – It indicates the product.
    • Currency Code - It indicates the product’s currency.
    • Open – Select this check box to change the status of the Product Code to open. The default status is No.
  12. After specify the fields in the Interest screen, click Next.
    The MIS Details screen displays.

    Figure 1-6 Create Business Product – MIS Details


    Description of Figure 1-6 follows
    Description of "Figure 1-6 Create Business Product – MIS Details"

  13. Specify the fields on MIS Details screen.

    For more information on fields, refer to the field description table below.

    Table 1-6 MIS Details - Field Description

    Field Description
    MIS Group Specify the MIS group associated with the business product.
    Description The system displays the description. This is auto populated.
    <MIS Group> Name Specify the transaction MIS to be associated.

    Click the search icon to open the MIS Class Code window. Select and click to add the code in the field.

    <MIS Group> Description The system displays the description.
    CUSTOMER Specify the customer to be associated.
    CUSTOMER Description The description of the customer is displayed.
  14. After specifying the fields in the MIS Details screen, click Next.
    The GL Reporting Details screen displays.

    Figure 1-7 Create Business Product - GL Reporting Details


    Description of Figure 1-7 follows
    Description of "Figure 1-7 Create Business Product - GL Reporting Details"

  15. Specify the fields on GL Reporting Details screen.

    For more information on fields, refer to the field description table below.

    Table 1-7 GL Reporting Details - Field Description

    Field Description
    Natural GL The following values are available as follows:
    • Credit
    • Debit
  16. Click the Add icon to add an entry for GL.
    The Add GL Lines screen displays.

    Figure 1-8 Add GL Lines


    Description of Figure 1-8 follows
    Description of "Figure 1-8 Add GL Lines"

  17. Specify the fields on Add GL Lines screen.

    For more information on fields, refer to the field description table below.

    Table 1-8 GL Reporting Details_Add GL Lines - Field Description

    Field Description
    Status Specify the status. Click the search icon to open the Status window. Select from the list of status associated and click to add the status in the field.
    Description The system displays the status description.
    Credit GL Specify the GL to which the account balance should belong. Click the Search icon to open the Credit GL window. Select and click to add the entry.
    Debit GL Specify the GL to which the account balance should belong. Click the Search icon to open the Debit GL window. Select and click to add the entry.
  18. After specifying the fields in the GL Reporting Details screen, click Next.
    The Statement Preferences screen displays.

    Figure 1-9 Create Business Product - Statement Preferences


    Description of Figure 1-9 follows
    Description of "Figure 1-9 Create Business Product - Statement Preferences"

  19. Specify the fields on Statement Preferences screen.

    For more information on fields, refer to the field description table below.

    Table 1-9 Statement Preferences - Field Description

    Field Description
    Display IBAN on Advices If this checkbox is selected as Yes, the IBAN details are displayed in the statement.
    Statement Type Specify the type of statement. The values are as follow:
    • None
    • Summary
    • Detailed

    When the statement type is None, the Cycle and On are not captured.

    Cycle Specify the value for the cycle. The values are as follow:
    • Daily
    • Weekly
    • Fortnightly
    • Monthly
    • Quarterly
    • Semi Annual
    • Annual
    Statement Format Specify the format in which the account statement should be generated. The list displays advices maintained in Common Core advice maintenance.

    This field is available only when Statement Type is Summary or Detailed.

    Swift Required This checkbox indicates whether statement in swift format is required or not. Default value is No.

    This field is available only when Statement Type is Summary or Detailed.

    Swift Message Type This field indicates the swift message type that should be generated. The list displays the swift message type from Type of Type service.

    This field is available only when Swift Required is set to Yes.

    Validations

    When the Cycle is selected as follows:

    • Monthly - the list of values (LOV) displays values from 1 to 31. This shows the day of the month for statement generation.
    • Weekly - the LOV displays values from Sunday to Saturday.
    • Fortnightly - the LOV displays values Sunday to Saturday.
    • Quarterly - the LOV displays months January to December.
    • Semi Annual - the LOV displays months January to December.
    • Annual - the LOV displays months January to December.
  20. . After specifying the fields in the Statement Preferences screen, click Next.
    The Status Rule Definition screen displays.

    Figure 1-10 Create Business Product - Status Rule Definition


    Description of Figure 1-10 follows
    Description of "Figure 1-10 Create Business Product - Status Rule Definition"

  21. Specify the fields on Status Rule Definition screen.

    For more information on fields, refer to the field description table below.

    Table 1-10 Status Rule Definition - Field Description

    Field Description
    Automatic Status Change Select this box to indicate if the account status change must be performed automatically for accounts under this business product.
    Dormancy Days Specify the number of days for Dormancy.
    Dormancy Parameters Specify the parameter by selecting any of the below values from the drop-down list.
    • Credit - If you perform any credit transaction, the dormant check box will be cleared automatically.
    • Debit - If you perform any debit transaction, the dormant check box will be cleared automatically.
    • Any - If you perform any credit/debit transaction, the dormant check box will be cleared automatically.
    • Manual - The dormant check box must be cleared manually from "Account Amendment".
  22. Click the Add icon to add a rule definition. This field appears only if Automatic Status Change is enabled.
    The Add Rule Definition screen displays.

    Figure 1-11 Add Rule Definition


    Description of Figure 1-11 follows
    Description of "Figure 1-11 Add Rule Definition"

  23. Specify the fields on Add Rule Definition screen.

    For more information on fields, refer to the field description table below.

    Table 1-11 Status Rule Definition_Add Rule Definition - Field Description

    Field Description
    Status Specify the status code for which the rule is defined.

    Click the Search icon to open the Status window. Select from the list and click to add the status in the field.

    Sequence Number Specify the status sequence number. This field is auto populated based on the status.
    Rule ID Specify the Rule ID to be associated for the status.

    Click the Search icon to open the Rule Id window. Select and click to add the Id in the field.

    Rule Preview Preview the defined rules in this field. This field is non-editable.
  24. After specifying the fields in the Status Rule Definition screen, click Next.
    The Courtesy pay screen displays.

    Figure 1-12 Create Business Product – Courtesy pay


    Description of Figure 1-12 follows
    Description of "Figure 1-12 Create Business Product – Courtesy pay"

  25. Specify the fields on Courtesy pay screen.

    For more information on fields, refer to the field description table below.

    Table 1-12 Courtesy pay - Field Description

    Field Description
    Courtesy pay Limit Required Select this toggle, the Courtesy Pay Limit, CP Charge Code and CP Fee Receiving Account fields are displayed.
    Courtesy pay Limit Specify the limit value of Courtesypay (The value specified has to be understood as a threshold defined in Bank’s local currency).
    CP Charge Code Specify the applicable charge code.

    Click the Search icon to open the charge code list. Select from the list to add the charge code in the field.

    CP Fee Receiving Account Specify the applicable charge code.

    Click the Search icon to open the account list. Select from the list to add the account in the field.

  26. After specifying the fields in the Courtesy pay screen, click Next.
    The Overdue screen displays.

    Figure 1-13 Create Business Product – Overdue


    Description of Figure 1-13 follows
    Description of "Figure 1-13 Create Business Product – Overdue"

  27. Click the Add icon and Specify the fields on Overdue screen.

    For more information on fields, refer to the field description table below.

    Table 1-13 Overdue - Field Description

    Field Description
    Limit Type Select the applicable values from the drop-down list. The values are as follow.
    • Unsecured - Unsecured limit that are not backed by collateral.
    • Term Deposit - Uses the TD collateral.
    • Collateral - Any collateral apart from the TD.
    Rate Code Specify the rate code value for the accounts.
    Rate Value Specify the rate for the accounts.
    Min Rate Specify the applicable minimum rate.
    Max Rate Specify the applicable maximum rate.
    Actions Click the Edit icon to edit the values, click the Save icon to save the record and Click the Delete icon to delete the record.
  28. After specifying the fields in the Overdue screen, click Next.
    The RegD Parameter screen displays.

    Figure 1-14 Create Business Product – RegD Parameter


    Description of Figure 1-14 follows
    Description of "Figure 1-14 Create Business Product – RegD Parameter"

  29. Specify the fields on RegD Parameter screen.

    For more information on fields, refer to the field description table below.

    Table 1-14 RegD Parameter - Field Description

    Field Description
    Reg D Applicable

    If this option is enabled, then the business product is applicable for Reg D. The below values will be shown.

    • Reg D Monthly Transaction Threshold
    • Reg D Warning Notice
    • Reg D Monthly Transaction Violation Notice
    • Reg D Violation in a 12 Month Rolling Period

    The default value is No.

    Reg D Monthly Transaction Threshold It denotes the number of transactions threshold for Reg D in a calendar month.
    Reg D Warning Notice It denotes the number of transactions before a Reg D violation within the calendar month, at which a warning notice or disclosure needs to be sent to the customer.
    Reg D Monthly Transaction Violation Notice It denotes the number of transactions within a calendar month post violation of Reg D, where a notice or disclosure needs to be sent to customer (this notice also mentions switching the customer account from MMDA or Savings account to Checking).
    Reg D Violation in a 12 Month Rolling Period It denotes the minimum number of months in a 12-month rolling period, where if there is a violation of Reg D for these many months, a notice or disclosure will be sent to customer.
  30. After specifying all the details, click Save & Close to complete the steps or click Cancel to exit without saving.

Parent topic: Business Product