Multi Level Approval

2.7 Multi Level Approval

This topic helps you quickly get acquainted with the Multi Level Approval process.

The Approval user can approve the Transaction.

The Approval summary screen displays the summary tiles. The tiles displays a list of important fields with values. User must be able to drill down from summary Tiles into respective data segments to verify the details of all fields under the data segment.

In case of MT798, on approval the task is handed off to back office system to amend the LC contract and generate the required MT707/708/747 messages.

Log in into Oracle Banking Trade Finance Process Management Cloud Service application and acquire the task available in the approval stage in free task queue. Authorization User can acquire the task for approving.

Authorization Re-Key (Non-Online Channel)

For non online channel, application will request approver for few critical field values as an authorization step. If the values captured match with the values available in the screen, system will allow user to open the transaction screens for further verification. If the re-key values are different from the values captured, then application will display an error message.

Open the task and re-key some of the critical field values from the request in the Re-key screen. Some of the fields below will dynamically be available for re-key.:

Applicant Party
Application Date

Re-key is applicable to the first approver in case of multiple approvers. All approvers will however be able see the summary tiles and the details in the screen by drill down from tiles.

Figure 2-36 Authorization Re-Key Description of approvalrekey.png follows
Description of the illustration approvalrekey.png

Approval Summary

Description of the illustration approvalsummary.png

Tiles Displayed in Summary:

Main Details - User can view and modify details about application details and LC details, if required.
Availability Shipment - User can view and modify availability and shipment details, if required.
Documents and Conditions - User can view and modify the documents required grid and the additional conditions grid, if required.
Payment Details - User can view and modify all details related to payments, if required.
Amendment Details - User can view the amendment details of the issued LC.
Additional Fields - User can view the details of additional fields.
Advices - User can view the details of advices.
Limits and Collaterals - User can view and modify limits and collateral details, if required.
Commission and Charges and Taxes - User can view and modify commission, charge and tax details, if required.
Revolving Details - User can view and modify revolving details on revolving LC, if applicable
Preview Messages - User can view and modify preview details, if required.
Parties Details - User can view and modify party details like beneficiary, advising bank etc., if required
Compliance Details - User can view compliance details. The status must be verified for KYC and to be initiated for AML and Sanction Checks.
FX Linkage - User can view the FX Linkage details.
Exception (Approval) - User can view the exception (Approval) details.

Click Approve.

For more information on Action Buttons, refer to the field description table below.

Table 2-36 Approval Summary - Action Buttons - Field Description

Field	Description
Documents	View/Upload the required document. Application displays the mandatory and optional documents. The user can view and input/view application details simultaneously. When a user clicks on the uploaded document, Document window get opened and on clicking the view icon of the uploaded document, Application screen should get split into two. The one side of the document allows to view and on the other side allows to input/view the details in the application
Remarks	Specify any additional information regarding the collection. This information can be viewed by other users processing the request. Content from Remarks field should be handed off to Remarks field in Backend application.
Checklist	Click to view the list of items that needs to be completed and acknowledge. If mandatory checklist items are not selected, system will display an error on submit..
Overrides	Click to view the overrides accepted by the user.
Customer Instructions	Click to view/ input the following Standard Instructions – In this section, the system will populate the details of Standard Instructions maintained for the customer. User will not be able to edit this. Transaction Level Instructions – In this section, Oracle Banking Trade Finance Process Management Cloud Service user can input any Customer Instructions received as part of transaction processing. This section will be enabled only for customer initiated transactions.
Incoming Message	This button displays the multiple messages (MT760 + up to 7 MT761. In case of MT798, the User can click and view the MT798 message(770,700/701).
View LC	Click to view the details of the LC.
Hold	The details provided will be saved and status will be on hold.User must update the remarks on the reason for holding the task. This option is used, if there are any pending information yet to be received from applicant.
Reject	On click of Reject, user must select a Reject Reason from a list displayed by the system. Reject Codes are: R1- Documents missing R2- Signature Missing R3- Input Error R4- Insufficient Balance/Limits R5 - Others Select a Reject code and give a Reject Description. This reject reason will be available in the remarks window throughout the process.
Refer	Select a Refer Reason from the values displayed by the system. Refer Codes are: R1- Documents missing R2- Signature Missing R3- Input Error R4- Insufficient Balance/Limits R5 - Others
Approve	On approve, application must validate for all mandatory field values, and task must move to the next logical stage. If there are more approvers, task will move to the next approver for approval. If there are no more approvers, the transaction is handed off to the back end system for posting.

Parent topic: Import LC Amendment