1.2 Business Process Configuration
This topic provides the information about the business process configuration.
The Oracle Banking Origination is equipped with Business Process configuration helping banks to build desired workflow for origination by defining the stages for the product origination and defining the respective data segments, checklists, documents required and advice generation for the stages.
A business process can be defined as a set of activities and tasks that are once completed, will accomplish the distinct origination processes. The business process must involve clearly defined inputs and a single output.
The business process definition determine the different stages which are required for a given combination of the process code, life cycle and business product code. The workflow management of these stages and the relevant stage movements are defined in workflow Orchestrator to help us orchestrate the micro-services based process-flow and ensure seamless transition of the Account Origination process across various stages in that given order. The Workflow Orchestrator process will drive the workflow from one stage to another based on the process outcomes at the respective stages and subject to fulfilling of the mandatory data capture, confirmation on the mandatory checklist items and submission of mandatory documents at the respective stages. The stages defined in the business process can be dynamically assigned to different user profiles or roles.
During product origination, the system picks the business process run-time and initiates the workflow based on the configuration.
- Lifecycle
Lifecycle represents the lifecycle of the process for which the Business Process is created. These are factory shipped codes and currently support ‘Origination’ lifecycle for products types such as Savings Account, Current Account, Loans and Credit Card..
The list of lifecycle codes is available in Lifecycle Codes.
- Process Code
Process Code defines the various stages relevant for the origination workflow. Process Code configuration allows you to define the business process flow that needs to be mapped for the business product and lifecycle code combination in the Business Process configuration.
A set of default process codes are factory-shipped for the reference workflow. User can also create process codes in “CMC_TM_PROCESS_CODE” and “CMC_TM_PROCESS_STAGE” tables. The list of shipped process codes is available in Process Codes.
- Business Product
Business Product maintenance allows configuring the various business products in accordance with the product offerings that the bank deals in. Each business product has a unique business process defined for a specific lifecycle code selected.
This topic contains the following subtopics: