Use

In the context of a savings scheme , the life cycle control function ensures control of the term and the actions the system carries out at certain times during the duration of the contract. These are based on the details about the duration of the savings scheme and the payment phase and inactivity phase entered on the Payment Agreement tab page on the account (see Editing Payment Agreements ).

Scope of Functions

When the end of the savings phase or the savings scheme is reached, the system creates correspondence for the customer. When the end of the savings scheme is reached, the stored action (automatic product change, scheduled product change, schedules account closure) is also carried out. For more information, see the documentation for the Final Response field on the Savings Agreement tab page for the account.

Reports are available to you for creating correspondence and for ending a savings scheme that you can also schedule in the job chain for end-of-day processing.