|
Many financial institutions give additional credits to customer's deposit accounts. Examples:
Currently there are only 2 ways in which an amount can be credited to a customer's deposit account:
a) As a deposit
b) As an interest amount applied to the account
# | Title | User Story | Importance | Notes |
---|---|---|---|---|
1 | Transaction Bonuses | As an Operations Manager, I wish to set up a bonus that will be credited to the account whenever a customer does certain types of transactions using one or more channels or payment types | Must Have |
|
2 | Account Balance based Bonuses | As an Operations Manager, I wish to set up a bonus that will be credited to the account at certain periods based on the balance (minimum balance or average balance etc.) available for a certain period | Must Have | |
3 | Set up Accounting for Bonuses | As an accountant, I wish to associate the bonuses to various expense accounts (or asset accounts, if they are receivables) to bonuses defined | Must Have | |
4 | Manual crediting of bonus to a customer account | As a back office user, I wish to credit an ad-hoc amount as bonus to a customer's account | Must Have |
TBD
A new entity called Bonus will be captured. Bonus will have the following inte.
Attribute | Description | Notes |
---|---|---|
Bonus / Reward Name | Name given to this bonus | Mandatory. Text (75) |
Applies To | Which type of deposit accounts this is applicable for | Mandatory. Dropdown of Savings, Current Accounts, Term Deposits and Recurring Deposits |
Active | If this Bonus is Active or Inactive | Optional. Checkbox. Defaulted to active for new bonuses. |
Allow Manual Entry? | If this checkbox is enabled, then system will allow a manual bonus to be applied (for example: an "Apply Bonus/Reward" button will be present - similar to Deposit button. This button will allow user to apply an amount as bonus or reward manually) | Optional. Checkbox. |
Bonus / Reward Based On | Whether the bonus is applicable for bonuses or whether it is computed on account balances | Optional. Dropdown with "Transaction Amount", "Account Balance". "Account Balance" - can be treated as a lower priority requirement. |
Transaction Types | (displayed and set only when "Bonus / Reward Based On" is set to "Transaction Amount") List of transaction types for which this bonus is applicable | Optional. List of checkboxes or multi-select listbox. With various transaction types: Account Opening, Deposits, Withdrawals, Interest Posting, Transfers, Standing Instruction etc. |
Payment Types | (displayed and set only when "Bonus / Reward Based On" is set to "Transaction Amount") List of payment types/channels for which this bonus is applicable. | Optional. |
Posted When | (displayed and set only when "Bonus / Reward Based On" is set to "Account Balance") Specifies when the bonus is to be posted | Optional. |
Bonus / Reward Calculation | Whether it is flat or a percentage of transaction or account balance. | Mandatory. If percentage is selected, then "Bonus / Reward Based On" cannot be null. |
Amount / Percentage | Amount or percentage applicable for this bonus | Mandatory |
Of | If "Bonus / Reward Based On" is set to "Account Balance" then dropdown will have "Average Account Balance" and "Minimum Account Balance" If "Bonus / Reward Based On" is set to "Transaction Amount" then dropdown will have "Transaction Amount" - which will be defaulted | Optional. Dropdown. |
Currency | Select a currency for this bonus | Mandatory. Dropdown. |
Following permissions needed:
Add, Update, View, Delete functionality for Bonus
Apply Bonus Manually
Apply Bonus Batch job
With sample accounting entries with dates
List of error scenarios and the action - if message is to be displayed, then text of the message.
List of changes/enhancements/new reports to support this functionality
From a functional perspective, list of new APIs needed.
From a functional perspective, list of existing APIs that need changes.
Points to be handled during upgrades
Any reference data that needs to be prepopulated or defaulted for clients/users
Below is a list of questions to be addressed as a result of this requirements document:
Question | Outcome |
---|---|
(e.g. How we make users more aware of this feature?) | Communicate the decision reached |