Introduction

6.1 Introduction

Here, the procedure involved in generating an outgoing message is explained. To recall, you have already maintained:

The type of messages that can be generated at your bank
Formats for the various messages
The media through which messages should be transmitted
A media control system to receive and transmit messages for a given media
The addresses for a customer for a given media

In each module of Oracle Lending, you can define products. While defining products you also indicate the messages that should be associated with an event in the life cycle of a contract involving the product.

A contract goes through several events during its lifecycle. A message for an event is triggered for generation when the event is authorized.

Example

You have defined a product to cater to short-term loans. You have indicated that the following messages should be generated when events take place:

Event	Message
INITIATION	Initiation Advice
LIQUIDATION	Liquidation Advice

When you initiate a short-term loan involving the product an Initiation Advice is triggered for generation. Similarly, if you make a repayment on the loan, the liquidation advice defined for the event is triggered for generation.

Note:

In this context advices and messages are commonly referred to as messages.

Depending on the product - message - customer details that you have set up, Oracle Lending determines the address and the media through which the message should be transmitted.

If a message is to be transmitted through mail, it has to be printed. If the message is to be transmitted through Telex, you need to enter the testword (if it is required for the message). The messages that are to be transmitted through media like Telex and S.W.I.F.T. are sent by the Media Control System (MCS), which is connected to the node in which the database of your branch is installed.

A message that is triggered for generation can be sent in the background or can be generated on-line. An outgoing message is processed based on the preference that you state.

Note:

The messages that are triggered by an automatic event like the generation of a tracer for an LC, billing notice and delinquency notice for a loan, etc., are put in the Outgoing Browser by the automatic function itself. This is because events triggered by an automatic function do not require authorization.

This topic contains following sub-topics:

Parent topic: Processing Outgoing Messages