Understanding and Configuring Operations Company Supplier Service Instance

Introduction

Operations Company Supplier Service in Oracle Financial Service Cloud facilitates integration between your organization and your suppliers. Oracle Financial Services Cloud supports a wide range of service providers. As an administrator of the financial institution, from Operations Company Supplier Service configuration you can select and configure which Supplier Services (such as, Signature, Storage) and Supplier Service Components (such as, DocuSign eSignature, Twilio SendGrid) to use, based on the business requirement.

Functionalities

Following are the functionalities of Operations Company Supplier Service in Oracle Financial Services Cloud:

  • Integration with Service Providers: Operations Company Supplier Service lets you configure and manage interactions with suppliers. The wide range of supported supplier integration ensures that you can continue using your preferred service providers as well as tap into Oracle Financial Services Cloud capabilities.
  • Centralized Supplier Configuration: Operations Company Supplier Service enables you to define the supplier service providers that you want to use, specify the credentials required (for example, user name and password), and manage other configuration details in one place.
  • Security and Credentials Management: Operations Company Supplier Service provides you a platform to securely store and manage credentials (such as, user name and password) that are necessary to authenticate with the supplier service providers.

Key Aspects

  • Operations Company Supplier Service configuration: Captures the basic information required to integrate suppliers with the system, associates to the Operations Company, Supplier Service Component and the corresponding Supplier Service. Association to the Supplier Service enables:
    • Identification of appropriate Supplier Service Component's Service Interface Name. For example, externaltwilio.messaging.
    • Identification of the instance of Oracle Secure Store, which contains the parameters or key value pairs to pass to the supplier services, with each request.
  • Operations Company Supplier Service Component - Credential Maintenance: Captures sensitive information such as, user name and password and securely stores and manages sensitive authentication in Oracle Secure Store.

    Note:

    You need to enter the credentials separately in each environment (Non-Production, Pre-Production, and Production), as each has its own instance of Oracle Secure Store.
Configuring Operations Company Supplier Service includes following:
  • Subscription and setting up Oracle Financial Services Cloud: Subscribe to Oracle Financial Services Cloud and complete the basic configurations to get you started.
  • Configuration of Operations Company Supplier Service: In Oracle Financial Services Cloud, configurations such as Operations Company Supplier Service, are required to integrate various supplier services like Telesign SMS, with the core systems of the financial institution. These supplier services are crucial in achieving your business goals such as distributing communication to your customers. You can select the required Supplier Service and Supplier Service Component while configuring Operations Company Supplier Service and associate with your Operations Company.
  • Service Interaction and Integration:

    You can use Oracle Financial Services Cloud's Credential Maintenance to configure the required parameters to interact with the Supplier Service. This is optional and depends on the service providers. These parameters are stored securely in Oracle Secure Store, and are sensitive. When an integration configuration is created, you can use these parameters for secure access. The Integration configuration passes the Secure Store key and Supplier Service Component's Service Interface Name to the API configuration, which bridge communication between the financial institution and services using secure authentication mechanisms, ensuring secure data exchange.

Figure 4-1 Supplier Service Interaction


Supplier Service Interaction

Configuration Movement

Operations Company Supplier Service

The Operations Company Supplier Service instance is configurable and it follows the configuration movement process; that is, if you configure the Operations Company Supplier Service instance in one environment (non-production), you can move the configuration to different environments (Pre-Production and Production).

Operations Company Supplier Service-Credential Maintenance

The Credential Maintenance of Operations Company Supplier Service Component does not follow the configuration movement process since each environment has its own instance of Oracle Secure Store. Hence you need to enter the credentials in each environment (Non-Production/Pre-Production/Production).