1.1.1.2 Onboarding Initiation - Relationship

The relationship section furnishes information concerning the connections between the party and related parties, including household members, guardians, custodians, and other relevant affiliations.

Adding relationship details is beneficial to both the customer and the bank during critical events.

Note:

The fields marked as Required are mandatory.

The following Data Segments can be captured in Relationship Segment.

Table 1-14 Data Segment - Relationships

Sl.No Data Segment Name Mandatory / Optional / Conditional Description
1 Household Optional Data Segment to capture household relationships of the party such as Father, Mother, Son Daughter etc.
2 Power of Attorney Optional Data Segment to capture related power of attorney holders of the party.
3 Service Member Optional Data Segment to capture related service members of the party.
4 Related to Insider Optional Data Segment to capture related insiders of the party.
5 Guardian Conditional Data Segment to capture guardian of the party.
6 Custodian Conditional Data Segment to capture custodian of a minor party. This will be available only, if party is a minor customer.
7 Solicitor Optional Data Segment to capture solicitor of the party.
8 Related Party Optional Data Segment to capture other relationships

For more details on Party Type and Party Status requirements during relationship creation, refer Table 6-1.

  1. Click Next in the Basic info screen to add the relationships details.
    The Initiation – Relationships screen displays.

    Figure 1-13 Initiate - Relationship


    Description of Figure 1-13 follows
    Description of "Figure 1-13 Initiate - Relationship"

  2. Click Add iconto select desired relationship.
    The Add New Household screen displays.

    Figure 1-14 Add - New household


    Description of Figure 1-14 follows
    Description of "Figure 1-14 Add - New household"

    Relationships with a customer can be either of the following:
    • An existing party that is a customer of the bank
    • An existing party that is non-customer
    • A new party, which is neither a customer nor an existing party

Existing Customer or Non-Customer

  1. Specify the existing CIF (if the relationship is an existing customer) or the existing Party Id (if the relationship is non-customer).
  2. Click the Search icon select the CIF/Party Id from the list
    The Search Party – Individual screen is displayed.

    Figure 1-15 Search Party – Individual


    Description of Figure 1-15 follows
    Description of "Figure 1-15 Search Party – Individual"

    Note:

    The user should have the required access to add a party within a customer access group as relationship. For more details, refer Oracle Banking Party Configuration User Guide.
  3. Click Next after CIF/Party Id is specified.
    The Add relationship screen displays.
  4. Specify the Relationship specific attribute.
    For more information on fields, refer to the field description table.

    Table 1-15 New Service Member - Field Description

    Field Description
    Primary Party

    Relationship type of the primary party.

    Entity Code: SMR
    Secondary Party

    Relationship type of the secondary party. Secondary party relationship is populated based on selected Primary Party relationship.

    Entity Code: FNP, LGD, SPO, CHL, FDT, PTR, LWD

    Note:

    The list of drop-down values is configurable through Entity Maintenance. For details on Entity Code Maintenance and the available values corresponding to each Entity Code, refer to the Oracle Banking Party Configurations User Guide.

    Table 1-16 Household - Field Description

    Field Description
    Primary Party

    Relationship type of the primary party.

    Entity Code: DTY
    Secondary Party

    Relationship type of the secondary party. Secondary party relationship is populated based on selected Primary Party relationship.

    Entity Code: SPO, FTR, MTR, SON, DAU, GRD, WD, GRP, GRC
    Is Dependent Is household party dependent on primary party.

    Note:

    The list of drop-down values is configurable through Entity Maintenance. For details on Entity Code Maintenance and the available values corresponding to each Entity Code, refer to the Oracle Banking Party Configurations User Guide.

    Table 1-17 Power of Attorney - Field Description

    Field Description
    Associated Since Association start date of power of attorney with primary party.
    Preferred Is record the preferred POA.

    Note:

    Refer to the Oracle Banking Party Configurations User Guide for entity maintenance.

    Table 1-18 Related to Insider - Field Description

    Field Description
    Primary Party

    Relationship type of the primary party.

    Entity Code: DTY
    Secondary Party

    Relationship type of the secondary party. Secondary party relationship is populated based on selected Primary Party relationship.

    Entity Code: SPO, FTR, MTR, SON, DAU, GRD, WD, GRP, GRC

    Note:

    The list of drop-down values is configurable through Entity Maintenance. For details on Entity Code Maintenance and the available values corresponding to each Entity Code, refer to the Oracle Banking Party Configurations User Guide.

    Table 1-19 Guardian - Field Description

    Field Description
    Primary Party

    Relationship type of the primary party.

    Entity Code: DTY
    Secondary Party

    Relationship type of the secondary party. Secondary party relationship is populated based on selected Primary Party relationship.

    Entity Code: SPO, FTR, MTR, SON, DAU, GRD, WD, GRP, GRC
    Preferred Flag for preferred guardian.

    Note:

    The list of drop-down values is configurable through Entity Maintenance. For details on Entity Code Maintenance and the available values corresponding to each Entity Code, refer to the Oracle Banking Party Configurations User Guide.

    Table 1-20 Custodian - Field Description

    Field Description
    Primary Party

    Relationship type of the primary party.

    Entity Code: CDN
    Secondary Party

    Relationship type of the secondary party. Secondary party relationship is populated based on selected Primary Party relationship.

    Entity Code: GRP, ANT, UCL, GRD, OTR, WD, PTR
    Preferred Flag to identify, if custodian is a preferred custodian for a minor party.

    Note:

    The list of drop-down values is configurable through Entity Maintenance. For details on Entity Code Maintenance and the available values corresponding to each Entity Code, refer to the Oracle Banking Party Configurations User Guide.

    Table 1-21 Solicitor - Field Description

    Field Description
    Registration Number Specify the registration number of the solicitor.
    Preferred Flag to identify, if solicitor is a preferred solicitor for a party.
    Remarks Remarks for the solicitor relationship.

    Note:

    Refer to the Oracle Banking Party Configurations User Guide for entity maintenance.

    Table 1-22 Related Party - Field Description

    Field Description
    Primary Party

    Relationship type of the primary party.

    Entity Code: RPP
    Secondary Party

    Relationship type of the secondary party.

    Entity Code: RSP
    Relationship Sub Type

    Relationship sub-type of primary party with secondary party

    Entity Code: RRS
    Remarks Remarks for the solicitor relationship.

    Note:

    The list of drop-down values is configurable through Entity Maintenance. For details on Entity Code Maintenance and the available values corresponding to each Entity Code, refer to the Oracle Banking Party Configurations User Guide.

New Party

A new party will be onboarded as a non-customer to be added as a relationship during the party onboarding process.

  1. Click on the + button to specify the details.
    The Add ID Details pop-up screen is displayed.
  2. On the Add ID Details pop-up screen, specify the fields. For more information on fields, refer to the field description table.

    Table 1-23 ID Details - Field Description

    Field Description

    ID Type

    		The specific type of identification document provided by the party (e.g., Passport, National ID, Driver’s License).

    Entity Code: ITY

    ID Status

    		The current verification status of the identification document provided by the party (e.g., Verified).

    Entity Code: IDS

    Unique ID A unique identifier assigned to the party for identification and reference purposes.
    Place of issue The location or authority that issued the identification document of the party.
    Valid From The start date of the validity period of the identification document.
    Valid Till The end date of the validity period of the identification document.
    Remarks Additional information or notes related to the party’s identification status or document.
    Preferred A flag used to mark the preferred ID type record for the party.
    • At-least one ID should be marked as preferred.
    • Only one ID can be marked as preferred

    Note:

    The list of drop-down values is configurable through Entity Maintenance. For details on Entity Code Maintenance and the available values corresponding to each Entity Code, refer to the Oracle Banking Party Configurations User Guide.
  3. Click and expand the Address section.
  4. Click Next to capture the KYC details for the new relationship.
    The Add New Household - KYC Details screen displays.

    Note:

    This step is optional.

    Figure 1-16 Add New Household - KYC details


    Description of Figure 1-16 follows
    Description of "Figure 1-16 Add New Household - KYC details"

  5. Click Verify to update the KYC details for the new related party.
  6. Specify the required KYC details.
  7. Click Next.
    The Add New Household screen is displayed to add relationship-specific attributes.

    Figure 1-17 Add New Household


    Description of Figure 1-17 follows
    Description of "Figure 1-17 Add New Household"

  8. On the Add New Household screen, specify the KYC details.

    For more information on the fields, refer to the Table 1-15.

  9. Click Submit.
    The Relationships screen displays the added relationship details.

    Figure 1-18 Relationships


    Description of Figure 1-18 follows
    Description of "Figure 1-18 Relationships"

  10. Click Next to move to the Educational Qualifications segment.

Parent topic: Onboarding Initiation