View Existing Goals

Introduction

Goal management is a feature that offers an option to retail customers to create various types of financial goals in the system. Financial goals can range from, saving money for buying a house to saving money for life after retirement. There are already three pre-configured goals available in the system. The retail user just needs to fill in required details and instantly goal is created. In case retail user has any specific goal then, they can define the goal in the system based on their preference. Currently, in the system following goals are pre-configured.

• Buy a House

• Buy a Car

• Plan for Retirement

• Set your own goal (user can create a goal of their choice)

Many times, retail users are not very clear about their goals, as in how much they need to save for retirement, for buying a house or for any goal. They don't know the amount they are eligible for home loan hence retail users are assisted with sophisticated tools and analytics to set the intelligent goals which are practical and achievable.

To track the progress of financial goals is more important than setting them. Goal management regularly sends alerts to retail users about the progress of the goals and generates reports in graphical format and the progress of goal is depicted. Based on this reports, retail users can decide upon the future action points.

This screen allows the retail user to see the list of goals associated with the user, if already created. Else, if the user is logging in for the first time, no goals are displayed. From this screen, retail user can modify the goal, delete the goal, set a new goal and track the progress of the goal.

If goals are already present, then the retail user can search based on the search criteria , goal description. Details like goal description, goal start date and end date, currency, goal amount, percentage of goal achieved (the value will be displayed once the account is linked to the goal, else will be shown as -) and pending action. The pending action will display the next immediate action pending. The different pending actions are

• No Action,if the retail user has completed all the steps for setting a goal

• Link the account,if the retail user has not linked an account with goal or if the same is pending from bank side

• Fund the goal,if the retail user has not yet given the funding instruction for the goal

• Track the goal,if the retail user has not yet given the tracking instruction for the goal

Navigation

The following is the navigation for this option:

• Click the Goal Management link under Personal Financial Management in Retail User screen.

• The View Existing Goals  screen is displayed.

What you can do

The table below provides a brief description of the data that must be specified on the screen and the functions you can perform:

Field

Description

Search Criteria

Goal Description

Specify the goal description to search the corresponding goal.

Field

Description

Goals List

Select

Select the option button to select the corresponding record.

Goal Description

The description of the goal. Click the hyperlink to view the details of the goal.

Goal Start date

The goal start date.

Goal End Data

The end date of the goal.

Goal Amount

The amount for the goal.

% of Goal Achieved

The percentage of the goal achieved by the user.

Pending Action

The pending action status.

Valid Values:

No Action,if the user has completed all the steps from setting a goal.

Link the Account ,if the user has not linked the account to the goal or same is pending from bank side (relationship manager approval)

Fund the Goal ,if the user has not given the funding instruction for the goal.

Track the Goal,if the user has not given the tracking instruction for the goal.