1.1 Business Product Configuration

This topic provides the information about the business product configuration.

The Business Product Configuration allows to configure the various products for Retail Bank offers. The details captured in the Business Products configuration displays the Product Suite that the bank is offering in the Product Catalogue and Product Details view. The parameters configured are also relevant for the Origination Processes of the respective product origination.

The Business Product Configuration created in Oracle Banking Origination is linked with the Host product. It is important to note that there is only one Golden Source for Product creation or configuration, which is the HOST. The Business Product created in Oracle Banking Origination allows configuring parameters that are customer facing and how the products are sold in Banks. Unlike, the Host Product definition that looks at Product Configuration from processing and transaction aspects. This helps in the product comparison and gauges benefits of what the customer wants to derive from the product. In addition to this, the Business Product configuration in Oracle Banking Origination, allows the flexibility to inherit other pertinent product features, which allows building a stronger and firm origination process flow with the added validations that are done during the defined stages in the origination workflow. Example: Allow Offer Amendment, Offer Acceptance Method, and Assessment Methods etc., are defined in the Business product and further are validated in the origination process of the specific Business Product.

The Business Product is linked to the Business Process, so that the origination process related to the selected Business Product flows as per the Business Process Definition. This allows the capability to configure two different Business Products within the same Product Type to have different origination workflows.Example: Current Account with or without Overdraft Limit Facility.

The Business Product process allows to create Business Product and view the existing Business Products. The details of that are explained in the further sections.

This topic contains the following subtopics: