Working with Financial Accounts

This chapter provides overviews of financial accounts, integration with legacy systems, and discusses how to:

• Set up account defaults.

• View financial account information.

• Modify financial accounts.

Understanding Financial Accounts

A financial account or contract represents a holding by a customer of a product or service provided by a industries, including insurance, wealth management, and financial services. The financial account function presents information from various legacy systems in a consistent interface. The financial account maps to the product, inheriting the terms and conditions from the product purchased by the customer.

The Financial Account record and its sub-records are created by the legacy administration systems. The Product Sales functionality queues up a transaction to the legacy system, which starts the process of creating a new account header record and its sub-records, but the actual creation of these records must be done by the legacy system.

A financial account is held by a business contact. The business contact may be a person, company, partnership or an alternate capacity—a business contact that is not in itself a legal entity. A legal entity is defined as an entity with legal responsibility. A person has a social security number and is legally responsible for taxes owed on the interest earned by the account. For example, a company has a taxpayer identification number, while a bridge club may have a financial account, such as a checking account, as well.

Each financial account record represents one financial services account. If a business contact has two checking accounts, there is one financial account instance in the financial services database for each.

A financial account is associated with the terms and conditions related to the product. Additional terms and conditions can be applicable to specific accounts.

Views of Financial Accounts

PeopleSoft delivers customer, agent, account manager, and application administrator permission groups for PeopleSoft Enterprise Banking Transactions, PeopleSoft Enterprise Bill Presentment and Account Management, PeopleSoft Enterprise Policy and Claims Presentment, and PeopleSoft Enterprise Client Management.

Customer

The self-service customer navigates to account detail records by way of the My Accounts pagelet.

My Accounts contains a listing of accounts for which the customer is the owner, authorized user, or beneficiary, or, in other words, has security matrix entry in his or her name. The account detail is read-only for the customer. No information can be changed on this page.

Agent

The financial services agent does not have permission to search listing of account records held by customers. Agent access is strictly controlled. An agent can view the details of an account held by a customer who is explicitly identified. Agents can view an account only when they identify the customer and navigate to the customer's 360-Degree View. Every entry of the agent to a particular customer's 360-Degree View is traced by access trace mechanism.

Account Manager

The financial services account manager has more authority to search for an existing account record.

There is a search page available to find an existing account record. The account detail is read-only for the account manager. . In addition, account managers can also see the accounts by navigating through the 360-Degree View as the agent does.

Administrator

The financial services application administrator has more authority to search for an existing account record.

There is a search dialog available to find an existing account record. The account detail is read-only for the application administrator. . In addition, the administrator can also see the accounts by navigating through the 360-Degree View as the agent does.

Financial Account Types

Financial account information is provided for a number of contract types that correspond to product types.

As PeopleSoft CRM applications are delivered, the following financial accounts are available:

• Checking account.

• Savings account.

• Credit account.

• Insurance policy.

• Investment account.

Understanding Integration with Legacy Systems

This section discusses integration requirements.

Two components must be configured for the integration piece to function correctly:

1. Integration Broker setup.

2. Process Scheduler setup.

   A legacy system can post the appropriate XML file to the uniform resource locator of the application messaging gateway. The PeopleSoft system then asynchronously subscribes to this data and loads it into the production tables. A legacy system can also choose to use a flat file to represent its data. An application engine process converts the flat file into an XML document that is in turn published to the application messaging gateway. The process run to perform this function automates the conversion of a flat file to an XML document and also the publishing process. For XML post, inbound data is validated during subscription. For flat files, data validation occurs during the publishing phase and again during the subscription phase.

The goal is to provide an integration framework to subscribe to inbound data from any legacy system. The two delivered methods of integration (XML and flat file) still go through the same enterprise integration point (EIP), which is the application messaging gateway.

Delivered XML Templates

PeopleSoft CRM delivers XML templates to perform the following:

• Add and update financial accounts.

• Set relationships.

• Set security matrix data.

• Set addresses for financial accounts.

• Set financial account fees.

Note. The file contains all of the necessary data definition tags. This section need not be modified. The message data should be changed appropriately according to what data is being loaded. Additional transactions should be added as needed.

Delivered Flat File Templates

PeopleSoft CRM delivers flat file templates to perform the following:

• Add and update financial accounts. (RBF_FIN_ACCT_FULL_SYNC)

  Note. This is a sample and the file should be modified accordingly.

• Set relationships for the financial account. (RBF_FINACCT_RELATIONSHIPS)

• Set security matrix data. (RBF_FINACCT_SECURITY and RBF_FINACCT_SECURITY_BYROLE)

• Set addresses for financial accounts. (RBF_FINACCT_ADDRESS)

• Set account fees. (RBF_FINACCT_FEES)

Delivered Flat File Processes

PeopleSoft CRM delivers the flat file process—RBF_FIN_ITG—which runs to load a flat file depending on the configuration.

Assumptions for XML Integration

Review the following assumptions for XML integration:

• All messages must be active in Application Designer.

• The transactions must be set up in Integration Broker through PeopleSoft Internet Architecture, and they must be active.

• Financial account messages require the following fields in the header:

  • CUST_ACCT_NBR

  • SYSTEM_SOURCE_CD

  • PROD_SETID

  • PRODUCT_ID

  • BO_ID_OWNER

  • OWNER_BO_TYPE

  • FIN_ACCOUNT_STATUS

Note. PROD_SETID, PRODUCT_ID, AND OWNER_BO_TYPE must be either valid prompt values or valid translate values that exist in the PeopleSoft system. Therefore, any legacy system would need to synchronize the list of possible values for these fields with the PeopleSoft system.

• Legacy has to set the AUDIT_ACTN in the PSCAMA record in the XML file.

  The value of A is Add (INSERT), C is Change (UPDATE), and D is Delete.

• The message should contain the required fields of the parent and the child.

• Cannot insert a child RBF_CHECK_ACCT) without a parent (that is, RBF_FIN_ACCOUNT).

• If the account has a status of CLOSED, then the security message has to be sent by the legacy to delete the entries in the security matrix.

Financial account address message: CUST_ACCT_NBR and SYSTEM_SOURCE_CD has to be associated with the message.

Relationships message:

• REL_TYPE_ID, ROLE_TYPE_ID are assumed to exist both in legacy and PeopleSoft CRM.

• Legacy sends the ID values for relationship type to set the relationships.

• In the relationship message, the first placeholder is the financial account information and the second placeholder is the business object with which the relationship is targeted.

• OWNER_BO_TYPE should be sent by legacy, which is one of the following:

  • ACC — Financial Account

  • PER — Person

  • COM — Company

  • ALT — Alternate Capacity

  • PAR — Partnership

• When relationships end, a message has to be sent from legacy with an end date of the relationship.

Security message:

• Legacy sends the XML file with the following fields:

  • FIRST_NAME

  • MIDDLE_NAME

  • LAST_NAME

  • TIN

  • TIN_TYPE

  • COUNTRY_NM_FORMAT

  • SYSTEM_SOURCE_CD

  • CUST_ACCT_NBR

  • SRTY_FUNCTION_CD

  • APPROVAL_FLG (Y/N)

  • SRTY_OPERATOR_CD

  • SRTY_AMOUNT

  • SRTY_ROLE_CD

    BO_IDs are determined from the PeopleSoft side and the security matrix is populated accordingly. If business object does not exist, the PeopleSoft CRM system creates a business object and sets up the security matrix accordingly.

• To populate the security matrix by role, legacy sends the following information in the XML file.

  Legacy has to know the SRTY_ROLE_CD, which exists in PeopleSoft CRM:

  • FIRST_NAME

  • MIDDLE_NAME

  • LAST_NAME

  • TIN

  • TIN_TYPE

  • COUNTRY_NM_FORMAT

  • SYSTEM_SOURCE_CD

  • CUST_ACCT_NBR

  • SRTY_ROLE_CD

Assumptions for File Integration

This process employs a mapping of fields in the flat file. Column headings are specified on the first line of the flat file. These column headings are mapped to actual PeopleSoft field names on the setup page. This mapping is saved and used when loading a flat file. In this way, order of the fields is irrelevant. Headings are used to determine which values correspond to which fields.

To set up the file upload:

• Map the flat file in the Setup component.

• Provide the file map name.

• Specify the delimiter.

• Ensure that all records to be included in the flat file are mapped here in the setup page.

  Select the record name (that is, RBF_FIN_ACCOUNT) from the prompt. Click the default fields button to automatically populate the grid with the fields of that record. Select the fields that you want to include as headings in your flat file. The flat file field name specified here must match the corresponding column heading that you will use in your flat file.

• Add as many records and fields as is necessary.

• Save the mapping.

To set up the flat file:

• Ensure that the file being used matches the previously created file mapping.

• Ensure that columnn headings of the file match the flat file field names specified in the mapping.

To run the file upload process:

• Select the File Upload component.

• Add a run control ID.

• Enter the file name (direct or absolute path of the file—for example, c:\pt842\appserv\prcs\dbname\files\filename.txt).

  The file must reside on the same box as the process scheduler.

• Select the file map name from the prompt.

  This map should be the mapping of the file that you will be using.

• Select Run and select the process RBF_FIN_ITG, and then click OK.

• Validate in the process monitor that the process has a status of success.

The log file generated by this process is dumped into the root directory of the process scheduler (ps_home\appserv\prcs\dbname\files).

Setting Up Account Defaults

This section discusses how to set up account defaults.

Pages Used to Set Up Account Defaults

Defining Account Defaults

Access the Defaults for Accounts page.

Integration Broker

Indicates whether Integration Broker is implemented for this account.

Viewing Financial Account Information

This section discusses how to view financial account information.

Alternate Capacities

An alternate capacity is any type of nonlegal entity, such as a scout troop or a company baseball team.

An alternate capacity does business with a financial institution and may or may not have been sold a product by the financial institution. Alternate capacities are business objects with a business object type of Organization and a role type of Alternate Capacity (role type ID is 31). A record for each alternate capacity that you do business with is created in the Alternate Capacity table (RBF_ALT_CAP). Because alternate capacities participate in business transactions, a record for the alternate capacity is also created in the Business Contact table (BC), which enables records to be defined for the alternate capacity.

Pages Used to View Financial Account Information

Viewing Financial Accounts

Access the Financial Account page.

Note. The view of the Financial Account page varies with the Account Type. For example, if the account is an Investment account, only the Investment Account group box is displayed on the Financial Account page. The user will not see a group box for Insurance accounts, Credit accounts, and so on.

Account Information

Investment Account

Access Investment Account information on the Financial Account page.

The fields in the Investments group box display information about each holding in the investment account.

Investment Account Type	The investment account type. Values are: Brokerage, Margin, Securities Custody, Investment Management, Trust, 401(k), Option Account, ESPP, or IRA..
CUSIP (Committee on Uniform Securities and Identification Procedures)	A number that uniquely identifies a given security. For example, the CUSIP number for Microsoft common stock is 594918104. CUSIP is an acronym for the Committee on Uniform Securities and Identification Procedures, the standards body that created and maintains the classification system. Foreign securities have a similar number called the CINS number.
Symbol	The stock symbol for the security.

Insurance Account

View Insurance Account information on the Financial Account page.

See PeopleSoft Enterprise Policy and Claims Presentment 8.9 PeopleBook.

Checking Account

View Checking Account information on the Financial Account page.

See PeopleSoft Enterprise Banking Transactions 8.9 PeopleBook.

Credit Account

View Credit Account information on the Financial Account page.

See PeopleSoft Enterprise Banking Transactions 8.9 PeopleBook.

Savings Account

View Savings Account information on the Financial Account page.

See PeopleSoft Enterprise Banking Transactions 8.9 PeopleBook.

Setting Up Alternate Capacities

Access the Alternate Capacity page.

Working with Relationships

Access the Financial Accounts - Relationships page.

See Relationship Management.

See PeopleSoft Enterprise CRM 8.9 Business Object Management PeopleBook.

Working with ATM Cards

See PeopleSoft Enterprise Banking Transactions 8.9 PeopleBook.

Viewing Terms and Conditions

Access the Terms and Conditions page.

Shows what services and features are included in the contract, and on what terms and conditions.

Viewing Fees

Access the Financial Accounts - Fees page.

The Fees page lists the Transaction Type that was performed on the account, and the cost of doing so.

Working with Cases

Access the Financial Account - Cases page.

The Cases page provides a summary of all cases associated with the account. To access the Case page and case details, select a specific case.

See Business Processes.

Working with Applications

Access the Financial Account - Applications page.

To view a product application, select an application number from the Applications column.

See PeopleSoft Enterprise Banking Transactions 8.9 PeopleBook.

See PeopleSoft Enterprise Policy and Claims Presentment 8.9 PeopleBook.

Modifying Financial Accounts

This section discusses how to modify financial accounts.

Page Used to Modify Financial Accounts

Maintaining Financial Accounts

Access the Modify Account page.

The fields on the Modify Account page are dependent on the Transaction Type. Different transaction types will show or hide different fields. When the Modify Account Record is saved, a business project is created. The last step of this newly created business project sends a message that modifies the account.

See Using Business Projects.

See Also

PeopleSoft Enterprise Banking Transactions 8.9 PeopleBook