This service domain orchestrates the processing of a product offer for a new or established customer. The offer process is defined specifically for the product or service being considered and can include actions such as document checks, collateral allocation, credit assessments, underwriting decisions, regulatory and procedural checks, eligibility checks, the use of internal and external specialist services (such as evaluations and legal advice).
Examples of Use
An existing customer has discussed short term funding needs with the Financial Advisor and agreed in principle to taking out a corporate loan. The customer offer process is initiated and leads the advisor through the detailed checks, authorizations and documentation needed prior to the final set-up of the Corporate Loan
The Offer Management Service Domain can process offers for all types of customers and any allowed combination of product or service. It references the Product Directory for the product specific offer instructions it must follow. The offer process may combine the selection of product/service specific details (e.g. pricing & negotiation ranges, documentation/authorization/regulatory requirements, eligibility and declarations, credit and other customer details), customer specific details (e.g. credit standing, other classifications such as operational overhead/retention target/activity history, demographics and segmentation). The service domain orchestrates a potentially complex/multi-threaded/multi stage workflow to get the offer to the point where the product/service can be initiated.
Related Business Scenarios
Core Business Object
- Obtain offer processing requirements for selected product
- Confirm customer suitability/eligibility for product
- Agree product features, fees and pricing with customer
- Obtain documents/signatures and required disclosures
- Arrange collateral and obtain underwriting authorizations
- Perform any audit and compliance checks
- Initiate product set-up