Managing value packages

A value package allows a client to bundle two or more products to be sold to its customers.

For example, a bank might sell a savings account product and a checking account product as a value package. When a customer purchases the bundle, the bundle itself is stored as a managed account, but the savings account and the checking account are stored as two referenced accounts, respectively.

A value package is typically a means for a client to up-sell its products. That is, a value package is typically associated with some added business benefits, thus creating an incentive for customers to purchase more than one product. Using the prior example of the value package, the bank may offer free overdraft protection as an added benefit if a customer opens a savings account and a checking account.

The value package is generally governed by some terms and conditions in order to maintain the validity of the value package. For example, the terms and conditions of the value package stipulate that both the savings account and the checking account must stay open. If either one of the accounts is closed, the value package is no longer valid.