Financial Account Management Standard Objects
Use Financial Account and related objects without installing the Financial Services Cloud managed package. Gain greater control and flexibility over your data models, enabling seamless integration by using the Financial Account and related standard objects.
Required Editions
| Available in: Lightning Experience |
| Available in: Professional, Enterprise, and Unlimited Editions |
Enable the Financial Account Management Standard Objects setting so that you can access the Financial Account and related standard objects, which help you to model financial accounts and related information for your users.
If you’re currently using objects from the Financial Services Cloud Managed package, then plan your metadata and data migration before you start using the standard Financial Account and its related objects.
- You can model financial accounts and related information by using a set of standard objects, such as Financial Account, Financial Account Party, Financial Account Transaction, and so on. See How Are Financial Accounts Modeled?
- You must consider certain points before you start using the Financial Account and related standard objects. See Considerations for Using Financial Account and Related Standard Objects.
When the Financial Account Management Standard Objects setting is turned on and you have the Financial Services Cloud managed package installed, both standard objects and objects from the managed package are visible in your org. It's important to consistently use either the Financial Services Cloud managed package objects or the standard objects, and avoid mixing both when you set up the financial account and its related features.Use the API name mapping between the managed package and standard objects to effectively use the objects without any confusion.
Here are the key distinctions between the managed package and the standard data model for Financial Account and related objects.
| Type | Managed Package Data Model | Standard Data Model | Link To Resources |
|---|---|---|---|
| Ownership of a financial account | The ownership of a financial account is determined by two lookup fields, primary owner and joint owner of the financial account object | The ownership of a financial account is determined from the Financial Account Party object. Financial Account Party is a junction object between Account and Financial Account. The role of a customer in the financial account is determined by the role in the Financial Account Party | Field Mapping for Financial Account Party |
| Balances of financial accounts | Balance details are represented using the fields within the Financial Account object | Balance details are represented using a separate object, Financial Account Balance | Field Mapping for Financial Account Balance |
| Addresses of financial accounts | Address details are represented using the fields within the Financial Account object | Address details are represented using a separate object, Financial Account Address | Field Mapping for Financial Account Address |
| Account to Financial Account linking | Determining the primary and secondary financial account owners can be challenging when multiple individuals are associated with a single financial account in the core banking system | Core banking system can create a role for each party in Financial Account Party | Field Mapping for Financial Account Party |
Here's an example of managed package and standard data model implementation for financial accounts and balances.
Financial Account - Managed Package Object
| Financial Account Number | Record Type | Status | Primary Owner | Joint Owner | Available Balance | Principal Balance | Interest Balance |
|---|---|---|---|---|---|---|---|
| 123456 | Checking | Active | C1 | C2 | 100 | ||
| 567890 | Auto loan | Active | C4 | 200 | 300 |
Financial Account - Standard Object
| Financial Account Number | Type | Status |
|---|---|---|
| 123456 | Checking | Active |
| 567890 | Auto loan | Active |
Financial Account Party - Standard Object
| Account | Financial Account | Role |
|---|---|---|
| C1 | 123456 | Owner |
| C2 | 123456 | Owner |
| C4 | 567890 | Borrower |
Financial Account Balance - Standard Object
| Financial Account | Balance Type | Balance Value | Balance As Of |
|---|---|---|---|
| 123456 | Available Balance | 100 | 09/23/2024, 19:05 |
| 123456 | Principal Balance | 200 | 09/20/2024, 10:05 |
| 567890 | Interest Balance | 300 | 09/20/2024, 13:20 |
- Enable Financial Account Management Standard Objects
To use the Financial Account and related standard objects to model financial accounts and related information, enable the Financial Account Management Standard Objects setting. - Assign Permissions for Financial Account Management Standard Objects
Give users access to the Financial Account and related standard objects by assigning permission sets. - Enable Integration User Access to Financial Services Cloud Standard Objects
Move data from external systems directly into Financial Account and related Financial Services Cloud objects via API without assigning additional Agentforce Financial Services licenses to your integration user. Update the integration user's permission set license to grant the required object permissions. - Enable Financial Account and Related Standard Objects in a Self-Service Portal
Your Experience Cloud users can launch the Financial Account and related standard objects directly from a self-service portal, such as the Financial Services Client Portal. - Considerations for Using Financial Account Management Standard Objects
Keep these considerations in mind if you’re currently using objects from the Financial Services Cloud managed package, and plan to use Financial Account and related standard objects. Plan ahead to make the transition easier for your user teams, partners, and clients.
