1. Small and Medium Business Onboarding User Guide
  2. KYC Management
  3. Create KYC

3.1 Create KYC

Create KYC process allows user to create a KYC record for the party.

To initiate the Create KYC:

Note:

The fields marked as Required are mandatory.
  1. On the Homepage, under Party Services, click KYC Management.
  2. Under KYC Management, click Create.
    The Create screen is displayed.

    Figure 3-1 KYC management - Create


    Description of Figure 3-1 follows
    Description of "Figure 3-1 KYC management - Create"

  3. Select party type as Small Medium Business to create KYC for a new party or Specify the CIF to create KYC record for an existing party.
  4. Click Submit.
    The Standalone KYC Onboarding screen is displayed.

    Figure 3-2 Standalone SMB KYC Onboarding


    Description of Figure 3-2 follows
    Description of "Figure 3-2 Standalone SMB KYC Onboarding"

Basic Details

  1. Under the Party Information, click and expand Basic Details segment.
  2. Under the Basic Details segment, click Edit button on each widget to update the details. For more information on the Business Details and Current Address widgets, refer to the Onboarding Initiation - Basic Details section.

    Note:

    Creation of a KYC record for a minor customer is not allowed.

Stakeholder

  1. Under the Party Information, click and expand Stakeholder segment.
  2. Under the Stakeholder segment, click Edit on the Owners widget.
    The Owners pop-up screen is displayed.
  3. On the Owners pop-up screen, specify the details. For more information on fields, refer to the Insta SMB Onboarding – Relationships section.
  4. Click Next button on the Standalone KYC Onboarding screen.
    Oracle Banking Enterprise Party Management supports 13 different KYC checks as below:
    • Address Check
    • Identity Check
    • Police DB Check
    • Credit Score Check
    • Education Qualification
    • Field Verification
    • Reference Check
    • Suit Filed
    • PEP Identification
    • AML Check
    • FATCA Check
    • SDN Check
    • Sanction Check

    Note:

    During the KYC stage, the party undergoes KYC checks. For details on maintaining KYC, refer to the Party Onboarding Configuration User Guide.
    The KYC Information screen is displayed.
  5. Click Verify button on each KYC check to verify the details. For more information on the fields, refer to the KYC Check section.

    Note:

    If any of the KYC Check is configured as automated in KYC maintenance, respective, KYC details will be auto populated based on the information provided.
  6. Click Submit after completing all the KYC checks.
The KYC reference number will be generated.

Parent topic: KYC Management