3 Product Processor
A product processor helps to receive details of the delinquent accounts in Oracle Banking Collections. System receives various information of delinquent accounts from the product processor. For example, it helps you to receive details regarding the account numbers, customer names, and assets associated with the default account.
The information received from the product processor is then used to track and perform various collection activities to recover the amount due from the customers. While using the information received through the product processor, system checks that the business date falls between the effective date and expiry date defined for the product processor. It also checks that the product processor is authorized and is in open status. If a product processor is modified and a page is using the same product processor, then system validates information with the updated product processor that is in authorized and open status.
You can create and manage product processors using the following pages: