Product Bundle
The Product Bundle Property Class is used to store the arrangements that form part of a Bundle. The user can define the participant rules of a Bundle Arrangement using this Property Class. It stores the donor and recipient information of the Bundle.
The Product Bundle Property Class also provides the option to delegate the Bundle constitution rules to the Product Qualifier.
Product Lines
The following Product Line uses the Product Bundle Property Class:
- Bundle
Property Class Type
The Bundle Property Class uses the following Property Class Types. These are released and maintained by Temenos.
- Dated
- Non-tracking
Property Type
The Product Bundle Property Class is not associated with any Properties.
Balance Prefix and Suffix
The Product Bundle Property Class is not associated with balance prefix and suffix.
Attributes
Define Participants
Product Bundle Property Class is used to define Bundle Participants for the below:
Interest Compensation
The Product Bundle Property Class allows the user to define the participants of a Bundle Product. The allowed Products in a Bundle and Max or Min can be specified at the product level and these can be set to Non-Negotiable at the arrangement level.
- When Min or Max are not specified, then this Participant Product is treated as optional. Any number of arrangements belonging to this Product can be attached to the Bundle.
The Type attribute can be set to the Interest Compensation Property that is created so that one of the Participants can be identified as the recipient in the associated Master attribute.
Package Pricing
At design time, Product Bundle Property Class allows definition of eligible product participants of the bundle product and min/max participants per Product Group and/or Product. The design time fields allows the user to specify the Product of the primary arrangement that enables Bundle Pricing. At run time, it allows the user to specify the primary arrangement for the Interest Compensation functionality using the Arrangement field.
- The Product (MASTER.PRODUCT) field holds the product to which the Primary Arrangement can belong to. It is used in Package Pricing.
- The Type (MASTER.TYPE) field is set to INTEREST.COMPENSATION so that one of the Participants could be identified as recipient in Interest Compensation Products. Master Type can be set as Property Control Property for Package Pricing.
- The Arrangement (MASTER.ARRANGEMENT) field specifies the internal arrangement, which is specified in the Productfield.
Rule-based Bundle Constitution
The Product Bundle Property Class provides an option to delegate the Bundle constitution rules to the Product Qualifier. This is possible only when Bundle Constitution is set as Rule Based.
Bundle Constituents
The attributes of Product Bundle and its descriptions are provided below.
Bundle Constitution
When selected as Rule based, the Bundle Constitution rules are based on the Product Qualifier rules. The system allows the user to add Arrangements to the Bundle based on the rules set in the Product Qualifier.
This value is made available if the Bundle Product does not contain Interest Compensation Property Class.
Product Group
This allows the user to assign the Product Groups that are part of the Bundle Arrangement.
The following sub-value attributes are associated with the Product Group multivalue set and are independent of the Product.
- Minimum
- Maximum
- Arrangement Role
- Arrangement Only
Product
This allows the user to assign eligible Product(s) that are part of the Bundle Arrangement.
Min
This allows the user to define the minimum number of arrangements of the Product that are part of the Bundle.
When the minimum value is 1, then the Bundle must have at least one Participant that belongs to one of the listed Products.
Max
This allows the user to set the maximum number of arrangements of the Product that are part of the Bundle.
Arrangement Role
This attribute is used to define the role of the Bundle owner in the participant arrangements.
For example, the Beneficial Owner of the Bundle must own the Savings Account, but can be Joint Owner Current or Payroll Account.
Arr Info Only
This indicates that the associated Participant Arrangement is just for information and does not benefit from the Bundle.
This is an associated attribute of Participant Product Group.
It is possible only when the Bundle Constitution is designated as “Rules Based”.
Generating IBAN
An International Bank Account Number (IBAN) can be generated for Bundles. However, since Bundles do not have an associated account number, a customized routine has to be attached to the Alt Acct Gen Api field of ALT.ACCOUNT.PARAMETER.
The attributes (listed below) in AA.PRD.DES.PRODUCT.BUNDLE similar to the attributes in AA.PRD.DES.ACCOUNT are used to generate the IBAN. Based on the values defined for these attributes, the system auto-populates the IBAN for the BN master account. The user can view the generated IBAN in AA.ARRANGEMENT.
- Generate Iban - Determines if an IBAN has to be generated or otherwise.
- Alt Id Type - Defines the applicable Alt Id Type. For IBAN generation, Alt Id Type is T24.IBAN. If Generate Iban is set to ‘Yes’, then it is mandatory to define Alt Id Type.
- Alternate Id - This is auto-populated at run time based on the values defined for Generate Iban and Alt Id Type.
Refer to the Hybrid Pooling user guide to view IBAN generated for a Master Account.
Bundle Restrictions
The participants of the Master Account must belong to the same Customer as the Master Account.
- Set Participant Owner to Bundle Owner.
The participants can hold multiple currencies. However, there can be only one account per currency.
- Set Participant Currency to Any.
- Specify the individual currency that can be operated within this pool structure and set the Max field to 1 for each of them.
- If the list of currencies are specified, then the currencies of Bundle participants and the Hierarchy participants are restricted to this list.
- If no currency is specified, then any currency is allowed and there is no maximum cap.
Change Product of Participant Arrangement
Bundle Constituents are managed by the Product Bundle Property Class of the Bundle.
The system ensures if the Change To Product is also one of the allowed Products in the Bundle definition during a Change Product Activity on a Participant Arrangement. Likewise, system ensures that when the Bundle Constituents are monitored using Product Qualifiers, the ‘Change To’ product is also one of the allowed Products in the Bundle definition
- When Bundle constituents are managed by Product Qualifier, it is possible that the Participant arrangement is part of more than one Bundle as an Info only arrangement.
- In case an Arrangement is part of more than one bundle, the bundle constituents are evaluated in all the Bundles.
In a Savings Package Bundle, the user triggers the Activity to change the Product of one of the Arrangements from Welcome Savings Account to Savings Product. The Savings Account is not a valid Product to be a part of the Bundle as per Product Bundle setup, hence the system displays an error.
- Here, Product Bundle Property Class contains the list of Products that must be part of the Bundle. When this Bundle Constituent definition fails, system raises an error message.
- In absence of this Product-level specification (without Product Group or Product-level definition), if Bundle Constituents are evaluated only with Rule-based Product Qualifier, failure of the rule would result in dissolving the Bundle.
When the user tries to change the Welcome Savings Account to Preferred Savings Account, the system allows the same as it satisfies the Product Qualifier evaluation.
The Bundle now has a Payroll Account and Preferred Savings Account.
Based on configuration, this Product event change (from the Bundle Subscriber to TEC Events) can trigger the Bundle Product qualifier rules for the system to evaluate and set to dissolve the Bundle Arrangement (as configured in the Bundle Qualifier rules).
Closure of Bundle Participants
The system stops the closure of a participant Arrangement when the Bundle Minimum participants for this Product or Product Group is set to 1 (at least one participant is mandatory) and this Arrangement is the last participant in this Product or Product Group (even if Info Only).
- If the Bundle Constitution is Rules based, closure is allowed if min is not set – System will allow closure of participant.
Periodic Attribute Classes
The Product and Service Count Periodic Attribute Class is used to evaluate the Bundle Participants based on the Product Bundle definition such as Product Group, Product, Minimum-Maximum Arrangements, and Roles associated to it.
Actions
Individual AA.PROPERTY.CLASS.ACTION records control the Product Line associated with it.The Product Bundle Property Class supports the following Actions:
| Action Name | Description |
|---|---|
| CLOSE | Stops the closure of a participant arrangement when Bundle Minimum participants for this Product/Product group is set as 1 (at least 1 participant is mandatory) and the applicable arrangement is the last participant in that Product/Product group (even if “Info Only”). |
| DATA.CAPTURE | This action is used in capturing the information on Bundle when records are migrated from Legacy to AA. |
| UPDATE | The action updates the attributes of the Product Bundle. |
| UPDATE.LIVE.DATE | To update the live date for the pool. |
Accounting Events
The Product Bundle Property Class does not perform any actions that generate accounting events.
Limits Interaction
The Product Bundle Property Class does not perform any actions that impact the limits system.
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