1996 | OriginalPaper | Buchkapitel
Financial Product Representation and Development Using a Rule-Based System
verfasst von : Anja Lange, Juergen Seitz, Eberhard Stickel
Erschienen in: Artificial Intelligence in Economics and Managment
Verlag: Springer US
Enthalten in: Professional Book Archive
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Increased competitiveness of the financial services industry forces financial institutions to develop new products that fit individual needs of their customers in shorter time. As a consequence it is necessary to develop suitable information systems that support the process of product development and product management. More complex products may be built from simpler basic products. In this paper a general methodology for the abstract representation of bank products is presented. A rule-based system is currently under development. Common properties of products (of different lines of business) are identified. This allows reusability of business processes that are concerned with development, sales and administration of bank products. Finally a concept for risk and yield management that fits into the parameter and process model discussed is presented.