What role does the feature management function serve in product configuration?

The feature management function plays a crucial role in product configuration by supporting product group management. This involves overseeing and organizing various products within a given group, ensuring that they align with the overall strategy and can be efficiently managed. Proper product group management enhances the ability to configure, launch, and maintain products effectively, allowing for streamlined operations and improved customer offerings.

By supporting product group management, the feature management function helps financial institutions ensure consistency across their product lines, facilitates compliance with regulatory requirements, and promotes better resource allocation. This organizational aspect is essential for adapting to market changes and customer needs, making it easier for banks to introduce new products or modify existing ones in response.