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Setting Up Other Products

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Other Products, which represent a grouping of fee-based products, allow you to create product types within PrecisionLender to capture fee-based business available to win. These can be products like Treasury or Cash Management Services, Merchant, Credit Card, Wealth Management, Trust, or Other Servicing fees including Fees, Services, and Safe Deposit Box.

When a lender is pricing a new opportunity, they will enter the estimated annual fees associated with the account type in the “Other Products” section of the Opportunity pricing screen.  These estimated annual fee amounts will have to be established by the bank and communicated to lenders based on average expectations for that product type.

other product screen


Toolbar

product edit toolbar

Edit

  • The "Edit" button will allow you to change the settings of the product

Save

  • The "Save" button is how you save any changes you have made to the product
  • If you leave a relationship without saving, any changes you have made since the last save, will be lost

Print

  • The "Print" button allows you to print off the settings of this product

Close

  • The "Close" button will leave the relationship and take you back to the Adminstration Section
  • Make sure that you save your work before closing if you would like to keep the changes you have made 


Name

product name field

  • This will be the name of the product and how it is referenced throughout PrecisionLender
  • This can be edited to match the name of the product at the financial institution

 Tabs (Regions)

product tabs/regions

  • The tabs represent different regions or groups of regions that have different assumption sets for the product


Product Configurations & Defaults

product configuration and defaults

Product Enabled

  • Signifies whether a product is visible and active in the product list view-able to users
  • Products created in order to map Relationship Awareness accounts that aren’t active accounts in use by the financial institution can be unchecked 

Other Fee Type

  • Clicking this field opens a drop down box allowing you to set a different product type 

 

Projected_Revenue_Screenshot.png

  • Projected Revenue Schedule
    • If 'Projected Revenue Schedule' is selected as the 'Other Fee Type', then the 'User Specified Capital' check box will appear. If the checkbox is selected, then the capital type specified by the lender in the opportunity will be added to the capital allocation (see Adding Other Products to an Opportunity).

Capital Allocation

  • Only applies to Annual Revenue and Balance type
  • Capital, or Equity allocated, expressed as a percentage of average balance for the product
  • When a user is inputting the Other Account type within Opportunity Pricing, the user will have to specify the expected balance of the account in order for Capital Allocation to be calculated
  • If no balance is specified, or the Other Account Type is not a type that would carry a balance, then no Capital Allocation amount will be calculated
  • Provided a Capital Allocation amount is calculated, this amount becomes the denominator in the profitability calculation for your return.

Target Return

  • Return profitability target for this product
  • Will only apply to products that have an expected balance associated with them

Expected Revenue Probability

  • Only applies to Expected One Time Revenue
  • Allows you to specify the probability you will receive this revenue

Servicing Costs

  • Not visible for Activity Based Fees
  • Allows you to set a percentage of the annual revenue or an annual fixed dollar amount as a servicing cost


Available Regions

available regions list

  • Regions for which these settings are active are signified with a check next to the region name
  • Split Out Region
    • Allows you to choose regions to separate from this group of regions so they can have separate assumptions.
  • Collapse Into Region
    • Allows you to collapse this group of regions into another group of regions that you select.
  • Only available if the Full Regionality and Advanced Funding module has been licensed


Activity Types

  • Applies to Activity Based products
  • Clicking "Add Activity Type" allows you to add separate line items for fees to be incurred by the customer each time they use the product

activity types

Name

  • This will be the name of the Activity

Default Unit Price

  • The unit price that will be add initially for new activities
  • This should be the standard charge to the client each time this activity is performed

Costs

  • The cost of this activity broken into 2 parts:
    • The cost per unit, each time this activity is performed
    • The cost as a percentage of the revenue earned


History

  • Clicking on "History" allows you to see a list of dates and times when changes were made to the product
  • By clicking on a date and time, you can see the setting of the product that was saved at that date and time

 

 product history

 

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