Straight Through Processing for Onboarding Requests Received from Channels

8 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.

Configurations

The details of the configuration parameters are as follows:

Table 8-1 Configuration Details

Configuration Parameter Description Default Value

Configuration Parameter	Description	Default Value
`STP_FLAG`	This parameter indicates whether the straight-through processing is allowed for retail onboarding requests received from the channels that are subject to other mandatory information being available in the request. Accepted values are: `TRUE` - Straight-through processing for Retail Onboarding shall be allowed subject to fulfillment of other mandatory details and business validation. `FALSE` - Straight-through processing for Retail Onboarding shall not be allowed in any case, even if all mandatory and KYC details are sent from the channel.	`TRUE`
`CHANNEL_CONFIRMATION_REQUIRED`	This parameter indicates whether confirmation from the channel is required before handoff to the core system. Accepted values are: `TRUE` – The system will wait for a confirmation from the channels before triggering the handoff to the core system `FALSE` – The system will go ahead with the handoff to the core system without waiting for any confirmation from the channels	`FALSE`

STP_FLAG

This parameter indicates whether the straight-through processing is allowed for retail onboarding requests received from the channels that are subject to other mandatory information being available in the request. Accepted values are:

TRUE - Straight-through processing for Retail Onboarding shall be allowed subject to fulfillment of other mandatory details and business validation.

FALSE - Straight-through processing for Retail Onboarding shall not be allowed in any case, even if all mandatory and KYC details are sent from the channel.

TRUE

CHANNEL_CONFIRMATION_REQUIRED

This parameter indicates whether confirmation from the channel is required before handoff to the core system. Accepted values are:

TRUE – The system will wait for a confirmation from the channels before triggering the handoff to the core system

FALSE – The system will go ahead with the handoff to the core system without waiting for any confirmation from the channels

FALSE

Process

On receiving the retail onboarding request from channels, the system will validate the configuration parameters as stated in the above table. If straight-through processing is allowed (STP_FLAG is set to TRUE), the system validates if all the mandatory information including the KYC details are available in the request. The following cases are applicable:

Table 8-2 Applicable Cases

Use Case	Description
Quick Onboarding	This case will be a quick onboarding with minimal attributes, equivalent to Quick Initiation. Further enrichment and KYC check for such requests can be done by a bank user.
Detailed Onboarding without KYC Check	This case will cover onboarding from the channel with full customer details without KYC checks. Such requests shall fall under the KYC stage. Bank users can pick such requests and complete the remaining stages - KYC, Review, and Approval.
Detailed Onboarding with KYC Check (Straight-through processing)	In this case, the channel will capture and pass on all the mandatory information and KYC details. This shall be treated as straight-through processing if `STP_FLAG` is set to `TRUE` and the Party details shall be handed over to the core system without the need of any manual intervention.