Financial Service Product (FS product) 

Definition

The financial service product enables you to store financing-relevant attributes that define the basic conditions for financial services.

Use

If you want to use FS products, bear in mind the following:

●     In account origination, you map the sales view of FS products, which means you cannot use these products in an operational context, as the calculation functions are located in the relevant backend systems such as Loan Management.

When you create a mortgage loan FS product in SAP CRM, the attribute values must agree with the attributes that you stored for the same product in the connected Loan Management system. In SAP CRM you therefore define only the FS product settings that are relevant for the account origination process, for example the definition of interest and repayment steps  and marketing-relevant settings.

●     The FS product is the means for representing a financial service in the system. You can use a separate product type 07 FS Product for financial services.

●     To be able to use the product type 07 FS Product , a base hierarchy must exist. A base hierarchy consists of categories that subdivide the product types. When you create an FS product, you assign at least one category. Categories define which set types and relationship types are permitted for the products of this category. You can also assign the product to further categories such as a process hierarchy.

SAP ships a report that creates the base hierarchy for FS products. This contains categories such as Loan and Collateral Agreements. You can subdivide these categories further. For example, you can subdivide the Loan category into the Mortgage Loan and Consumer Loan categories.

You can change the hierarchy and categories created by the report.

●     You define the data required for FS products using attributes, which are grouped together into set types.

SAP provides example set types and attributes for FS products of the Loan and Collateral Agreement categories. If you use the report for creating the hierarchy and the categories, the system automatically assigns these set types to the corresponding categories.

For more information, see Set Types for Financial Service Products.

●     To map the financial services provided by your enterprise, you can use the shipped attributes and set types or create new set types.

○     When you use set types in the product master, you assign these to a category of the base hierarchy for FS products.

○     If you want to use set types independently of product categories, you can integrate these in the business transaction.

For more information, see Enhancement of the Product Master and Business Transaction.

●     You can use the relationship type FS Relationship to link FS products with product categories and thus define dependencies between products.

For more information see Linking FS Products and Product Categories.

 

See also:

Creating a Financial Service Product