Retail Onboarding is an umbrella term that is often used to describe the entire process that users go through when they start their journey as a customer of a banking product or service.

This topic contains the following subtopics:

• Overview of Retail Onboarding
  Retail Onboarding is the process of collecting, evaluating, and authorizing the customer information for secured retail banking.
• Onboarding Initiation
  In the Initiation stage, the Relationship Manager can capture brief information about the retail customer to be onboarded using Oracle Banking Enterprise Party Management.
• Onboarding Enrichment
  In the Enrichment stage, the relationship manager can capture detailed information about the retail customer to be added in the Oracle Banking Enterprise Party Management.
• KYC Check
  KYC check for the retail customer is populated based on the product selected by that customer. The banks can directly perform the KYC check by themselves or reach external agencies for the KYC Information.
• Recommendation
  In this stage, the final Recommendation user reviews the customer details and moves the task to Approval stage if the details are appropriate.
• Approval
  In this stage, an approver can view the customer information and decide to approve or reject the party onboarding application based on comments provided in Recommendation stage.
• Amendment
  In the Amendment stage, the relationship manager can amend the information or can add additional information about a retail customer using Oracle Banking Enterprise Party Management.
• Straight Through Processing for Onboarding Requests Received from Channels
  Configurations are available for the onboarding requests received from channels to allow straight-through processing of retail onboarding and handoff to the core system without waiting for any manual intervention.
• Onboarding a Customer with No KYC Details
  This topic provides the information about the onboarding a customer with No KYC Details.