Product Architecture
Overview
timveroOS implements a two-tier product architecture that provides flexibility in lending product design while maintaining standardization and control. This architecture separates general product definitions from specific variations, enabling efficient product management and rapid market adaptation.
Two-Tier Product Model
Credit Products
Credit products define the general framework for lending offerings:
Product Type: Term loans, revolving credit, or hybrid structures
General Parameters: Overall amount ranges and term limits
Documentation Framework: Standard templates and requirements
Regulatory Compliance: Base compliance rules and disclosures
Additives
Additives provide specific implementations within a product framework:
Targeted Segments: Specific customer criteria and qualifications
Precise Terms: Exact rates, amounts, and conditions
Collateral Requirements: Security specifications if applicable
Unique Features: Special conditions or benefits
Product Configuration
Creating Credit Products
Navigate to Settings → Credit Products to configure:
Required Fields:
Product Name and Code
Product Type selection
Currency specification
Status (Active/Inactive)
Parameter Ranges:
Minimum and maximum amounts
Available term options
Interest rate boundaries
Fee structures
Documentation:
Contract template selection
Required document sets
Disclosure assignments
Compliance forms
Important Note
Each credit product must have at least one additive to be functional. The system will indicate products without additives as "Empty Additive Products."
Additive Configuration
Purpose of Additives
Additives enable:
Customer segmentation within products
Risk-based pricing variations
Targeted market offerings
A/B testing capabilities
Creating Additives
For each additive, configure:
Identification
Additive name and description
Internal reference code
Active/Inactive status
Eligibility Criteria
Credit score requirements
Income thresholds
Employment criteria
Other qualification rules
Specific Terms
Interest rate ranges
Exact amount limits
Available terms
Fee specifications
Collateral Settings
Required security types
Loan-to-value ratios
Valuation requirements
Insurance mandates
Participant and Asset Requirements
Required participant types (borrower, co-borrower, guarantor)
Optional participant roles
Collateral/asset requirements
Each participant/asset type brings its configured workflows
Offer Engine Integration
Each additive connects to an offer engine script that calculates:
Applicable interest rates
Available loan amounts
Payment schedules
Total costs
The offer engine uses:
Customer profile data
Product parameters
Market conditions
Risk assessments
Product Examples
Example 1: Auto Loan Product
Base Product:
Name: Vehicle Finance
Amount Range: $5,000 - $100,000
Terms: 12-84 months
Documentation: Standard auto loan package
Additive Examples:
Prime Auto: 720+ credit score, lowest rates, no down payment required
Standard Auto: 660-719 credit score, standard rates, 10% down payment
Subprime Auto: 600-659 credit score, higher rates, 20% down payment
Example 2: Personal Loan Product
Base Product:
Name: Unsecured Personal Loan
Amount Range: $1,000 - $50,000
Terms: 12-60 months
Documentation: Personal loan agreement set
Additive Examples:
Existing Customer: Relationship discount, streamlined process
New Customer Prime: Full underwriting, competitive rates
Debt Consolidation: Specific purpose, potentially higher amounts
Product-Driven Process Activation
The relationship between products and workflows follows this sequence:
Product Selection: Determines required participants and assets
Participant/Asset Creation: System creates entities based on product requirements
Process Activation: Each participant/asset type activates its configured:
Business process flow (application stages)
Workflow Engine evaluations (credit checks, income verification)
Document requirements
Orchestration: The system coordinates all active processes for the application
Note: Products themselves do not trigger workflows directly. Instead, they define the participant and asset composition, which determines the applicable processes.
Product-Level Configuration
Document generation templates
Compliance requirements
General product parameters
Reporting categories
Participant/Asset-Driven Processing
Specific underwriting criteria per participant type
Evaluation workflows mapped to participant/asset types
Role-based document requirements
Type-specific notifications
Managing Product Lifecycle
Product Activation
Create base product with parameters
Configure required additives
Assign workflow processes
Test configuration
Activate for use
Ongoing Management
Monitor product performance
Adjust additive parameters
Add new additives as needed
Deactivate underperforming options
Product Deactivation
Set product to inactive status
Stop new originations
Continue servicing existing loans
Maintain records for compliance
Configuration Best Practices
Product Design
Start with essential products
Keep initial additives simple
Test thoroughly before launch
Document configuration decisions
Additive Strategy
Create clear segmentation
Avoid overlapping criteria
Monitor performance metrics
Consolidate when appropriate
Documentation
Maintain consistent templates
Version control changes
Document business rationale
Keep audit trails
Integration Points
System Components
Products integrate with:
Participant/Asset Requirements: Define required entities for applications
Document Management: Template selection and generation
Pricing Engine: Rate and term calculation
Reporting System: Performance tracking
Note: Workflow Engine evaluations are triggered by the participants and assets required by products, not by products directly.
External Systems
Core banking product codes
General ledger mapping
Regulatory reporting categories
Third-party integrations
Performance Considerations
Configuration Impact
Product complexity affects processing speed
Multiple additives increase decision time
Clear criteria improve automation rates
Well-defined products reduce exceptions
Optimization Strategies
Regular configuration reviews
Performance monitoring
Simplification initiatives
Automated testing
Next Steps
With products configured, proceed to:
Pricing Configuration - Set up dynamic pricing algorithms
Collateral Management - Configure security requirements
Workflow Management - Build approval processes
For additional product configuration support, consult your implementation team or system documentation.
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