Signature Verification (SV) is the signature scanning and retrieval procedure of Oracle FLEXCUBE. In Signature Verification you can scan customer signatures and retrieve the same for on-line or off-line verification. Since here the scanning and verification process is automated it is less time consuming and more efficient than the manual scanning of signatures.
A typical application for this module would therefore be on-line verification of signatures during teller operations and back office verification of incoming clearing instruments.
SV application collaborates with all other applications of Oracle FLEXCUBE where a customer’s current or savings account is involved.
This chapter contains the following sections:
Customers, whether corporate or individuals, may have one or more accounts in your bank. For each account, you can maintain an unlimited number of CIF signatories. You can capture CIF Signatory details and signature images through the ‘CIF Signatory Details Input’ screen.
For each CIF Signatory you can capture nine specimen signatures. All the nine specimens will be displayed during verification.
For example, a corporate customer has its MD, Financial Controller, Chairperson and General Manager. All four people can be enlisted as the signatories for the customer.
Although you begin by enlisting all the signatories as customer signatories, you have to attach them to specific accounts and make them account signatories.
For example, a corporate customer has five accounts in your bank. One operated by the MD, another by the Financial Controller and the GM, a third by the MD and the GM and so on.
Now the account signatories for current accounts 1, 2 & 3 would be:
Hence while doing the verification; the signatures thrown up will be those applicable for the account.
You can link CIF signatories to specific accounts through the Accounts Signatory Details Input screen. Once you link CIF signatories to specific accounts then, whenever there is a debit transaction on the account(s) for which the CIF signatory is an account signatory, you can opt for verifying the signature.
For each account signatory you can specify an approval limit. The approval limit is the limit up to which each account signatory has got authority to allow debit transactions for a particular account. The approval limit is the criteria based on which the specimen signatures will be displayed for verification.
Whenever there is a debit transaction involving an account, the signature specimens of account signatories with an approval limit above the amount specified in the instrument will be displayed for verification. However, regardless of the approval limit, if you want the specimen signatures of all the account signatories for that account to be displayed for verification you can give the required specification.
Moreover you can opt to verify signatures On-line or Off-line. On-line verification of signatures can be done whenever you are processing a debit transaction involving an account for which the customer signatory is an account signatory.
Off-line verification on the other hand, is the verification of signatures for a customer when no transaction involving them is being processed.