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## 1.53.1 Create Pricing Model

This topic describes the systematic instructions to create pricing model based on various pricing parameter by updating various details.

Specify User ID and Password, and login to Home screen.

1. On Home screen, click Core Maintenance. Under Core Maintenance, click Credit Decision.
2. Under Credit Decision, click Maintenance. Under Maintenance, click Pricing Model.
3. Under Pricing Model, click Create Pricing Model.
   The Create Pricing Model screen displays.

   Figure 1-216 Create Pricing Model

   Description of "Figure 1-216 Create Pricing Model"
4. On Create Pricing Model screen, specify the fields.

   Note:

   The fields, which are marked with an asterisk, are mandatory.
   For more information on fields, refer to the field description table.

   Table 1-177 Create Pricing Model - Field Description

   Field | Description
   --- | ---
   Pricing Code | Specify the unique pricing code.
   Pricing Description | Specify a short description for the pricing.
   Effective Date | Specify the effective date.
   Expiry Date | Specify the expiry date.
   Product Processor | Specify the product processor for which the pricing is being created.
   Priority | Specify the priority of the pricing.

5. Click the Selection Criteria to define pricing model.

   Figure 1-217 Create Pricing Model – Selection Criteria

   Description of "Figure 1-217 Create Pricing Model – Selection Criteria"
   For more information on fields, refer to the field description table.

   Table 1-178 Create Pricing Model – Selection Criteria - Field Description

   Field | Description
   --- | ---
   Use Existing Rule | By default, this option is enabled. Indicates if the existing rule is linked.
   Rule Code | Select the rule code from the drop-down list.
   | Click this icon to get the information about the rule.
   Rule Name | Displays the rule name of the rule code.
   Create New Rule | Select this option to create new rule.
   Code | Specify the rule code.
   Description | Specify the rule description.
   + icon | Click this icon to add new expression.
   Fact / Rules | Select the fact or rule from the drop-down list. Once the user selects the fact/rules, one more field opens adjacent to the output, update the same based on the selected output option.
   Operator | Select the comparison operator from the drop-down list. The available options are: < > + = % != - >= <= * / Contains In Matches NotMatches NotContains Notin
   Data Type | Select the data type for the fact or rule. Once the user select the data type, one more field opens adjacent to the output, update the same based on the selected output option. The available options are: Text Number Boolean Date Fact Rules The below option appears if the Data Type is selected as Boolean. True False
   Output | Select the output from the drop-down list. Once the user select the data type, one more field opens adjacent to the output, update the same based on the selected output option. The available options are: Text Number Boolean Date Fact Rules The below option appears if the Data Type is selected as Boolean. True False
   Expression | Displays the expression updated in the expression builder.

6. Click Price Definition to define the pricing.
7. Select the Rate Type options as Flat to specify the flat rate.
   The Create Pricing Model – Price Definition (Flat) screen displays.

   Figure 1-218 Create Pricing Model – Price Definition (Flat)

   Description of "Figure 1-218 Create Pricing Model – Price Definition (Flat)"
   For more information on fields, refer to the field description table.

   Table 1-179 Create Pricing Model – Price Definition (Flat) - Field Description

   Field | Description
   --- | ---
   Minimum Rate | Specify the minimum rate applicable for the defined pricing code.
   Maximum Rate | Specify the maximum rate applicable for the defined pricing code.
   Rate Type | Select the rate type from the drop-down list as Flat.
   Link a Rule? | Select the option whether to link a rule to derive the price. The options are: Yes No
   Rate % | Specify the interest rate application for the defined pricing. This field displays once you select the Rate Type option as Flatand Link a Rule? option as No.
   Rule | Select the rule for the defined pricing from the drop-down list. This field appears once you select the Rate Type option as Flat and Link a Rule? option as Yes.

8. Select the Rate Type options as Tiered to link the list of features.
9. Click Add Columns to select and link the features.
   The Add Features popup screen displays.

   Figure 1-219 Add Features

   Description of "Figure 1-219 Add Features"
10. Select the feature names from the list. (‘n’ number of features can be selected)
11. Select the option whether to link a rule for defining the interest rate.
12. Click Save to link the list of features for defining the tiered interest rate.
    The Create Pricing Model – Price Definition (Tiered) screen displays.

    Figure 1-220 Create Pricing Model – Price Definition (Tiered)

    Description of "Figure 1-220 Create Pricing Model – Price Definition (Tiered)"
    For more information on fields, refer to the field description table.

    Table 1-180 Create Pricing Model – Price Definition (Tiered) - Field Description

    Field | Description
    --- | ---
    Minimum Rate | Specify the minimum rate applicable for the defined pricing code.
    Maximum Rate | Specify the maximum rate applicable for the defined pricing code.
    Rate Type | Select the rate type from the drop-down list as Tiered.
    <Numeric Feature> From | Specify the minimum numeric value of feature to which the interest rate is applicable.
    <Numeric Feature> To | Specify the maximum numeric value of feature to which the interest rate is applicable.
    <Character Feature> Value | Specify the alphabetic value for which the interest rate is applicable.
    Rate % | Specify the interest rate applicable for the defined tier. This field appears once you select the Rate Type option as Tiered and Link a Rule? option as No.
    Rule | Select the rule for the defined tier from the drop-down list. This field appears once you select the Rate Type option as Tiered and Link a Rule? option as Yes.

13. Click Save to save the details.
    The Pricing model is successfully created and can be viewed using View Pricing Model screen.

Parent topic: Pricing