5 Overview of Oracle FLEXCUBE Transaction Creation Process

This topic provides information on overview of Oracle FLEXCUBE transaction creation process.

Transaction creation process will enable the investment banks to leverage on the state of the art technology used for business modelling, help extend the boundaries of potential markets and ensure the convenience with primary focus on customer service.

We shall look at the reference workflows of the transaction process before understanding how the configuration and capture of data can be done. These stages can be made mandatory or non-mandatory based on the business process configurations. The process management flow is basically routed through various stages to capture relevant data before it is ready to be sent to the host for transaction creation.

The pre-defined process flow for transaction process is as follows:

• Initiation Stage
• Application Entry Stage
• Supervisor Approval Stage
• Transaction Creation

The convenience of configuring appropriate stages and the respective data segments within each of these stages, which can be business driven, is hosted and architectured by our new platform solution. The random-access navigation between data segments within a given stage with appropriate validations, helps enable the business user to capture apt information anytime during the subscription process before the transaction is created in the host.

The business process definition will 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 the Process Orchestrator to help us orchestrate the subscription based process flow and ensure seamless transition of the transaction creation process across various stages in that given order. The workflow process drives the application from one stage to another based on the process outcomes at the respective stages and subject to fulfilling of the mandatory data capture/submission at the respective stages.