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Obligations and Splits
Obligations and Splits
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for any purpose, without the express written permission of TEMENOS HEADQUARTERS SA.
Table of Contents
Document History ............................................................................................................................. 3
Introduction ....................................................................................................................................... 4
Document Purpose ....................................................................................................................... 4
Assumptions ................................................................................................................................. 4
Exclusions ..................................................................................................................................... 4
References .................................................................................................................................... 4
Payment Obligations & Splits: Operations ....................................................................................... 5
Overview ....................................................................................................................................... 5
Obligations and Splits Screen ....................................................................................................... 6
Payment Sources ...................................................................................................................... 6
Payment Obligations ................................................................................................................. 8
Payment Splits ........................................................................................................................ 10
Payment Split Processing ........................................................................................................... 13
Obligation Run Processing ......................................................................................................... 16
Payment Split Processing Service .............................................................................................. 17
Obligations & Splits: Configuration ................................................................................................. 18
Obligations and Splits Menu ....................................................................................................... 18
Payment Types ....................................................................................................................... 18
Obligation Actions ................................................................................................................... 20
Obligation Types ..................................................................................................................... 22
Notes .............................................................................................................................................. 25
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Document History
Comments:
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Introduction
Document Purpose
This document provides an overview of the Payment Obligations & Splits functionality and describes
how the functionality can be configured to meet specific business requirements. It is aimed at
business users that will work with the system and implementation teams that will configure it.
Assumptions
It is assumed that the reader of this guide is proficient in the Temenos CoreBanking system, worked
with the Browser channel application and understands the structure and navigation of the
InclusiveBankingSuite Role Based Home Pages. For configuring the functionality, it is assumed that
the reader has prior implementation experience and understands the technical concepts of the
Temenos CoreBanking system.
Exclusions
None.
References
InclusiveBankingSuite Role Based Home Pages user guide.
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Payment Sources
The Payment Sources section presents all payment sources available for the customer. Payment
source defines the trigger for payment split processing. Examples:
Cash deposit in local currency with amount greater than 100 on current account
Salary credit greater than USD1000 on current account
Internal account transfer in local currency to regular share account
Column Description
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Payment Type Ref Reference (ID) of the payment type for the payment source.
Payment Type Name of the payment type for the payment source.
The options displayed above the list or beside each payment source, execute the following
functions:
Option Description
New Payment Source Opens Payment Source application for new record input.
Payment Source
Payment Source application allows input/editing of the payment source records.
Field Description
Conditions Tab
Field Field (or list of fields) that will be checked for executing the payment
source.
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In the example above, the payment source will be subject to payment split processing if there is
an internal transfer to account 12847, with local currency amount greater or equal 100.
Payment Obligations
The Payment Obligations section presents the payment obligations setup by the customer.
Payment obligation is a commitment to save / collect money on an account. Examples:
Save money for Christmas spending
Collect money for monthly rent payment
Collect money for monthly loan instalment
Column Description
Next Run Date Next date to run obligation action (if defined).
The options displayed above the list or beside each obligation, execute the following functions:
Option Description
New Payment Obligation Opens Payment Obligation application for new record input.
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Payment Obligation
Payment Obligation application allows input/editing of the obligation records.
For new payment obligation input, the following application is displayed first.
Field Description
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Field Description
Start Date Obligation start date. This is the date from which funds are to be
collected for this obligation.
End Date Obligation end date. This is the date up to which funds will be
collected for this obligation.
Next Run Date Obligation next run date. This defines the end of the obligation
period.
Run Incomplete? Defines whether obligation action (if defined) will be executed even
when the funds were not collected in full.
Track Arrears? Defines whether the system will try to collect additional funds to
cover arrears of the previous incomplete obligation runs.
Payment Splits
The Payment Splits section presents the payment splits defined on all the customer’s accounts.
Payment split defines how funds received in the account from selected payment sources should be
distributed to the payment obligations. Examples:
If funds are credited to the current account by internal transfer, send 100 USD of the
transaction amount to the monthly rent obligation and 10% of the remaining amount to the
Christmas savings obligation.
If funds are credited to the current account by cash lodgement, send 50% of the transaction
amount to the monthly loan repayment obligation.
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Column Description
Payment Type Type(s) of payment that triggers splits from this account. Multiple
payment times on one account are allowed.
The options displayed above the list or beside each payment split, execute the following functions:
Option Description
New Payment Split Opens Payment Split application for new record input.
Payment Split
Payment Split application is used for defining splits on the selected account.
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Field Description
Account Currency Currency of the account where the payment splits are defined.
Payment Source Payment source that will be taken for split processing.
Multi-value field, i.e. multiple payment sources can be defined for
split processing on the selected account.
Split to Obligation Payment obligation to be repaid using the above payment source.
Sub-value field, i.e. multiple obligations can be defined (repaid) from
the above payment source.
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Internal account transfer is made to account 12847, with amount 120 USD.
The transaction is qualified as payment source – internal account transfer in local currency.
The splits defined for this payment source are:
o Home Loan Repayment with 100 USD – to account 10747
o Rent to Jones with 50 USD – to account 12898
The first obligation is not active, so it is skipped in split processing. The system makes split
only to the second obligation. Account balances updated as below.
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Now let’s make the loan repayment obligation active and repeat the internal transfer
transaction for 120 USD.
As the first obligation is now active, the system first takes 100 USD from the transaction to
repay the loan, and the remaining 20 USD for rent payment. The split for rent was defined
as 50 USD, but only 20 USD remained available after the first split. Account balances
updated as below.
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The total amount collected for the period ending on the 26th May 2016 was 340.00 USD. Because
the obligation had ‘Track Arrears’ and ‘Run Incomplete’ flags set, the system added the overdue
amount of 310.00 USD to the current period – as arrears – and executed the action defined for
obligation – external transfer. This can be seen on the account statement.
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Each of the menu items is explained in more detail in the following paragraphs.
Payment Types
The Payment Types enquiry lists available types of payments that can be used for setting up
payment sources on customer accounts. Payment type is related to the transaction data (e.g. input
channel, transaction type, currency) and can define additional parameters for setting up a payment
source.
Column Description
Status If ACTIVE, the payment type can be used for setting up payment
sources and triggering payment splits.
The options displayed above the enquiry or beside each payment type trigger the following
activities:
Option Description
New Payment Type Opens Payment Type application for new record input.
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Payment Type
Payment Type screen allows input/editing of the payment type records. It uses the Business Events
TEC.ITEMS application. Please refer to the Business Events user guide for more information on
setting up TEC.ITEMS events.
Field Description
Status If ACTIVE, the payment type can be used for setting up payment
sources and triggering payment splits.
Field Type How the fields on the above application are referenced – by field
name or using a keyword.
Field / Keyword The name of the field or keyword that is subject for event generation
checking.
Field Description Description of the field / keyword, that will be presented to the user
when setting up payment sources – only for inherited fields.
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Inherit? If Yes, then the field will be presented to the user during payment
source creation, to provide user conditions for the payment event
generation.
Obligation Actions
The Obligation Actions enquiry lists actions that can be run when obligation period ends. For
example, a monthly rent payment obligation could use external transfer action, to automatically send
funds to a landlord on the required obligation date.
Column Description
The options displayed above the enquiry or beside each obligation action trigger the following
activities:
Option Description
New Obligation Action Opens Obligation Action application for new record input.
Obligation Action
Obligation Action application allows input/editing of the obligation action records.
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Field Description
User Prompt Text displayed to a user for filling this field, when setting up
obligation with this action.
Action Routine A routine that will be executed with this action is run.
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Obligation Types
The Obligation Types shows the different obligation types that can be setup on customer accounts.
Column Description
Active? If YES, the obligation type can be used for setting up obligations on
customer account.
The options displayed above the enquiry or beside each obligation type trigger the following
activities:
Option Description
New Obligation Type Opens Obligation Type application for new record input.
Obligation Type
Obligation Type application allows input/editing of the obligation type records.
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Field Description
Allowed Category Start category defining the allowed category ranges where
Start obligations of this type can be setup. This field together with Allowed
Category End forms a multi-value set.
Type Active? If set, this obligation type can be used for setting up obligations on
customer accounts.
Allowed Action Obligation actions available for selection when obligation of this type
is being setup. Multi-value field.
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FT Transaction Type FUNDS.TRANSFER transaction type used for split payments made
to obligations of this type.
In the example above, the RENT.PAYMENT obligation type defines that during obligation input,
user will have to provide obligation amount and frequency. Obligations of this type could be setup
on accounts with category in range 6001-6100, and user could select external transfer to
beneficiary as an automatic action executed on obligation run date. The split payments done to
accounts with obligation of this type setup will use ACPS transaction type.
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Notes
Use this page to record your own notes.
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