Party preferences

Party Preferences maintenance enables the bank administrator to define certain parameter values as per the corporate requirements. This maintenance is done only for corporate type of parties and is not applicable for retail type of parties.

Parameter values maintained against a corporate party defines the system behavior for the following:

• Cumulative daily limits per transaction for the corporate party
• User Transaction Limits Transaction limits for the users
• Type of Approval flow applicable
• Channel Access Preferences
• Availability of Corporate Administrator facility
• Corporate Administrators can only view the preferences set for a corporate party by accessing the Party Preferences screen. They do not have the rights to maintain or edit the party preferences

Prerequisites

• Party preference is maintained by the Bank administrator
• Corporate Administrator is maintained for a party
• Transaction access is provided to Corporate Administrator

Features Supported In Application

Party Preference maintenance available for corporate administrator users in the application includes;

• View Party Preferences

How to reach here:

Corporate Administrator Dashboard > Toggle menu > OnBoarding > Party Preferences
OR
Corporate Administrator Dashboard > Quick Links > OnBoarding > Party Preferences

Party Preferences - View

Corporate Administrator logs into the system and navigates to the Party Preferences screen.

System displays the preferences maintained for the Party linked to the corporate administrator. Corporate administrator can view the details but cannot edit anything in the screen.

Field Description

Field Name	Description
View
Party Id	Party ID mapped to the logged in corporate administrator.
Party Name	Party name of Party ID mapped to the logged in corporate administrator.
Details
Cumulative Daily Limit	Name of the cumulative limit package mapped to the party.
User Limit	Name of the user limit package mapped to the party.
Approval Flow	The approval type for the party. The options are: Sequential Parallel No Approval
Channel Access	Whether the corporate user can start transacting through channel banking. The options are: Enable : Allows bank administrator to enable the party for application channel access Disable: Allows bank administrator to disable the party for application channel access
Enable for Corporate Administrator	Whether the corporate has corporate administrator rights and can one of the user perform the administrator functionalities on behalf of Party. The options are: Enable Disable
Accessible Roles	Field lists the type of roles that will be available to the corporate administrator while on-boarding a user for the corporate party. Options are: Corporate Admin Maker – If this is selected, corporate administrator will be able to onboard a user in corporate admin maker role. Corporate Admin Checker – If this is selected, corporate administrator will be able to onboard a user in corporate admin checker role. Maker – If this is selected, corporate administrator will be able to onboard a user in corporate maker role. Checker – If this is selected, corporate administrator will be able to onboard a user in corporate maker role. Viewer – If this is selected, corporate administrator will be able to onboard a user in corporate viewer role.

1. Click Cancel to cancel the transaction and navigate back to ‘Dashboard’.

FAQs

What is sequential type of approval flow?

Under Sequential approval flow, the approval can be done only in the sequence as mentioned in approval workflow. So, at the first level of approval, users/ user groups who are assigned to authorize only can view and approve the transaction. After the transaction is approved by level 1 user, the users/ user groups having rights for second level of approval will be able to view and authorize the transaction. The transaction is marked as approved only after the user at the last level approves/ authorizes it.

What is Parallel type of approval flow?

It is “Non-Sequential” type of approval flow which doesn’t follow any specific sequence. Any user (who is part of the approval flow) from any approval level can pick up the transaction/maintenance and approve it. The transaction/maintenance is marked as approved if one user from each approval level (as configured) has approved/ authorized the transaction.

What is cumulative daily limit package?

This limit package acts as a cumulative limit for all users of a corporate party and is utilized as and when any user authorizes the transaction as a final approver. The daily limit per transaction and number of transactions allowed limit is checked and updated against the cumulative limit set. It is mandatory to assign a cumulative daily limit package to each party preference created

What is User limit package?

This limit package is applicable for all users of the party (Users to whom this party ID is mapped as primary Party ID). This package will be overridden by User level limits package, if defined, at User Maintenance.

Can corporate administrator view the party preference maintained for a linked party?

No, preferences can be viewed only of a primary party ID mapped to a logged in corporate administrator.

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