Eligibility
Eligibility Property Class is used to evaluate eligibility of a customer for a product, based on the rules defined. The eligibility evaluation is triggered at a given frequency or when there is a static change for the customer. Upon any failure of a rule during eligibility review process, the arrangement is moved from the current product to a default product as per the setup.
Product Lines
The following Product Lines use the Eligibility Property Class:
- Accounts
- Agent
- Bundle
- Deposits
- Facility
- Lending
- Relationship Pricing
- Rewards
- Safe Deposit Box
Property Class type
The Eligibility Property Class (optional) uses the following Property Class types:
- Currency Optional
- Dated
- Enable External
- Enable External Financial
- Variations Supported
- Tracking Only
Property Type
The Eligibility Property Class is associated with the Product Only and Variations Supported Property Types.
Balance Prefix and Suffix
Eligibility Property Class does not hold any balances as it is not financial in nature and therefore there is no associated balance prefix.
Attributes
The following are the related attributes
Defining Eligibility Conditions at Product Level
- The Eligibility conditions are defined at the product level and are rarely changed or negotiated at arrangement level.
- General Rules or CCY specific rules can be defined with their corresponding Failure Type and Failure Action.
- When a new arrangement is created, the eligibility rules are verified and the arrangement created if the rules are satisfied. If the rules are not met, an error or override as indicated in Eligibility Failure is generated.
- For instance, when trying to create an account for a customer, the rule to check if a customer is a local resident, can be evaluated.
- If the rule is met, account is opened successfully.
- If the rule is not met, system can be configured to generate an error message indicating the same or an override (warning) message indicating the same.
- If the configuration is to generate an override message, user can accept the override and open the account.
- For instance, when trying to create an account for a customer, the rule to check if a customer is a local resident, can be evaluated.
- The eligibility rule can also be checked on regular basis using a static review or periodic review
- If the rules are not met during the regular evaluations, user can choose to ignore the failure or change the product of the arrangement using the Review Failure field.
- Close option is available only for Relationship Arrangements
- When Change Product is given Change to Product or Change Activity can define the resultant action in the arrangement.
- Change to Product - The default product to which the arrangement has to be moved on rule failure during cob.
- Change Activity - this activity is triggered instead of CHANGE.PRODUCT activity, on any rule failure during cob
- If either Periodic Review or Customer Static Review is checked, then a default product should be entered to which the current eligible product moves to if the eligibility condition(s) fail while evaluation during COB. A frequency needs to be defined if Periodic Review is opted.
- Customer Static Review gets triggered during COB only when there is any static change to the customer record.
- Eligibility Property Class is of OPT.CCY type to allow currency based eligibility conditions.
- To define multiple joint owners and roles, eligibility allows definition of rules for the customer roles. To allow the multiple customers:
- Default evaluation rule is run against all customers
- Role specific evaluation rule is run against the customers belonging to a role for which rule is defined.
- If any of the rule (Default and Role Specific) for any arrangement customer fails, then based on the corresponding failure type, error or override message is given.
- Static review is done for all the customers defined for an arrangement.
- Defining rules for Eligibility:
- EB.CONTEXT must have an entry for each Temenos Transact application, whose field values are used to evaluate a condition.
- Toolbox can be used as an external interface to create rules and save so that XML format of the rules get automatically downloaded to the EB.RULES.VERSION and EB.RULES applications in Temenos Transact.
- To communicate to Temenos Transact there has to be an entry in EB.RULE.GATEWAY for each rule (shouldn’t define more than one rule). Eligibility Property Class uses the ID of EB.RULE.GATEWAY as a key to trigger rule engine.
Periodic Attribute Classes
There are no periodic Attribute Classes associated with Eligibility Property Class.
Actions
The Eligibility Property supports the following actions:
| Action Name | Description |
|---|---|
| MAINTAIN | The Maintain action applies the current eligibility criteria until it is re-evaluated. |
Accounting Events
The Eligibility Property does not perform any actions that generate accounting events.
Limits Interaction
Actions associated with the Eligibility Property Class do not have an impact on the Limits.
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