Product and Price capabilities are required along the entire value chain from various business domains of the Service Landscape. Product and Price Management is a central cornerstone in Banking Architecture and must ensure consistency and availability for the product portfolio of a bank. Hence, Product and Price Management must be able serve the different lifecycle requirements, flexibility needs, and efficiency requirements of the different Business areas.
The BIAN Working Group Product and Price is working to identify which Product and Price capabilities need to be available where and how in the Service Landscape to support the end-to-end processing of the contract lifecycle.
The team is currently working on identifying the business domains affected, e.g. Product Management, and detailing product and pricing business objects with respect to:
- Define global vs. business-area specific capabilities of the business
- Describe different views on products (Sales, operational, analytical)
- Define the granularity of the resulting service domains
- Define Service Operations which allow the consumption of product and price capabilities following SOA principles.
The next steps will be to investigate prioritized service domains – Lending and Payments –regarding their specific product and price requirements and consumption of Service Operations, continue the banking services definition for service domains in Product Management, and validate service definitions with the prioritized service domains.