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Product Inheritance in Temenos Transact

The document explains the Product Inheritance feature in Temenos Transact's Product Builder, which allows for the creation of product families by defining derivatives of a generic product. Users can inherit properties from parent products, simplifying the creation of variations like car loans with different terms and rates. Changes to parent products can automatically update affected derivatives, streamlining product management.

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Khaled Ghalab
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92 views2 pages

Product Inheritance in Temenos Transact

The document explains the Product Inheritance feature in Temenos Transact's Product Builder, which allows for the creation of product families by defining derivatives of a generic product. Users can inherit properties from parent products, simplifying the creation of variations like car loans with different terms and rates. Changes to parent products can automatically update affected derivatives, streamlining product management.

Uploaded by

Khaled Ghalab
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

8/13/2021 Product Inheritance (Families)

 > Temenos Transact > Temenos Transact > Arrangements Architecture > Product Builder > Product Inheritance (Families)

Product Inheritance (Families)


A key feature of the Product Builder is Product inheritance. This allows to create product families where derivatives of a generic product or sub-
product can be quickly created by defining the delta (in terms of product conditions) between the new and existing product. This means that where a
Defined Property is not specifically defined, it can be inherited from the parent product, grandparent product and so on.

For example, consider that a bank wishes to offer a range of car loans with rates varying based on the type of car and the term of the loan. A generic
’car loan’ product is defined where all the standard terms and conditions such as base interest rate, max and min principal amounts, early redemption
penalties and charges can be defined. The actual products to be sold can then be defined as derivatives of this base product where only the interest
rate, term, and overdue processing change. For each derivative product, it is only necessary to specify the relevant Defined Properties that differ from
the parent product.

The process of Product Inheritance is shown below.

When defining these child products, the user specifies the parent product and all the characteristics of the parent are displayed. Any Defined
Properties, which are changed can be stored for the child product and all others are treated as inherited. Whenever a parent product changes, it is
possible for the affected derived products to be rebuilt.


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8/13/2021 Product Inheritance (Families)

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