Agent System

The AGENT system has the following functions:

• Registration of agents’ whole dates
• Using flexible agent commission parameters
• Setting financial institution’s product structure parameters
• Reading commission events from financial institution’s account keeping (CORE) system
• Generating agent commission
• Manual booking and correcting agent commissions
• Keeping agent commission accounts, handling balances of commission accounts
• Handling procedure statuses of the commissions (booked, payable, partly-paid, paid)
• Differentiating the generation of agent commission of enterprises and employees
• Making statement of commission in ends of periods (previous and final statements of commissions)
• Making statement of commission during the period (in case agent would like to resign)
• Reading sales performance events from financial institution’s account keeping (CORE) system
• Evaluating agents’ sales performance
• Making reports in connection with agents’ commissions and sales performance

Registration of agents’ whole dates

On one hand it is possible to register partner dates into AGENT system that mean natural dates (for example: name, address, tax number, bank account number, etc.); and on the other hand the agents’ sales activity dates that are the so called agent dates (for example: supervisor, branch, entering date, commission multipliers, etc.).

Dates of enterprises and employees can be registered into AGENT. The contact person of enterprises can be also recorded with whom financial institution has contact during the daily commission administration work. In case there are more enterprise and employee subagents making sales activity behind the enterprise agent, their dates can be registered into AGENT system too.

AGENT system supports modelling the financial institution total sales network. According to the agent role filled in the sales hierarchy more agent types can be differentiated. It is possible to record the agents’ superior, the branch code, directory code. AGENT supports the following agent’s data modifications: agents’ enter, resign, modification of employment type, movements in the sales hierarchy, changes of agent’s type, superior changes, branch changes, directory changes.

Using flexible agent commission parameters

AGENT supports calculation of the following types of agent commissions:

• Commissions generated based on agents’ own sales activity
• Commissions generated based on the supervised agents’ sales activity
• Further commissions

Commissions generated based on agents’ own sales activity

AGENT supports a flexible development of commissions generated based on agents’ own sales activity. The following commission parameters can be set in AGENT system:

• AGENT commission would be generated based on a non-recurrent or on a regular commission event,
• A fix commission amount would be generated (piece commission type) or a defined percentage would be multiplied with a value amount of the product - for example disbursed amount of a loan (value commission type),
• According to different agent types different commission amounts can be set in AGENT’s parameter tables, so the financial institution can motivate agents’ sales performance belonging to different agent types in a diverse method.

In order to motivate agents belonging to the same agent type commission multipliers can be registered to each agents. The value of the commission multiplier can be defined based on evaluation of sales performance or on individual agent agreements. (For example: The given agent type gets 5,000 HUF commission based on the commission event; the given agent belonging to that given agent type has a 1,2 commission multiplier; it means that the agent gets 6,000 HUF commission.)

Commissions generated based on the supervised agents’ sales activity

A commission multiplier type can be registered to agents’ dates; that will generate commission based on the supervised agents’ sales activity.

AGENT commission generation and handling balances of agent commission accounts in AGENT system

The following picture shows the work-flows of agents’ commission handled by AGENT system

AGENT system has a developed INTERFACE which shows commission events from the daily closing batch of financial institution’s CORE system. There can be more commission events defined belonging to one product. For example: In case of a mortgage loan the loan contract making can be defined as a non-recurrent commission event; the disbursement of loan can be set as a regular commission events.

After reading commission events from INTERFACE to AGENT the commission amounts are generated based on the parameters set. The regular events reading during the period makes possible to control commission in booked status and to correct them when necessary during the period before the month closing. AGENT supports corrections and manual booking of commissions.

Previous and final statements of commissions can be made for one agent and for all the agents. Generating statement of commissions can be made at end of period (in practice in month end) or during the period when agent would like to resign during the period.

AGENT supports generation of commission of enterprises and employees in different ways. With a developed INTERFACE the AGENT can be corrected to financial institution’ financial ERP system in that enterprises’ invoices are registered and disbursement of invoices are made. The developed interfaces support amount control of invoices registered into ERP system in order to define if invoices can be paid or not, getting dates of agents’ invoices disbursed in ERP.

Evaluation of agents’ sales performance in AGENT system

The logical steps of evaluation of agents’ sales performance can be seen in the following picture:

The aim of the evaluation of agents’ sales performance is to define the bonus commission amount based on agent’s sales activity during the period and /or to define commission multiplier that influence the generated commission amount of agents’ own activity and supervised agents’ sales activity.

AGENT system has a developed INTERFACE where sales performance events can be seen from the daily closing batch of financial institution’s CORE system.

AGENT supports handling the following 3 types of sales performance events: closing events, deletion events and new sales events. Closing events mean the number of products or the value amount of a product at end of a period (for example: actual balance of loans or banking accounts. New sales events mean the growth of numbers of new products or the growth of value amount of new or existing products. Deletion events mean new closing of products in the period or those transaction of products taken as negative events into consideration during the financial institution’ s evaluation of sales performance. According to financial institution wishes different sales performance events can be defined that can be set into AGENT’s parameter tables.

Factors of sales performance of each products can be given into AGENT’s parameters. The factors are multipliers that influence which products with which weight take part in the evaluation of sales performance.

Plan dates of evaluation of sales performance can be registered into AGENT for a time period that are in connection with the planned aims of the financial institutions. With the result of comparison of plan and fact dates the bonus commission amounts and the commission multipliers can be calculated for each agents.

Based on the aggregated fact events commission multipliers can be calculated.