Party preferences

PartyA party is any individual or business entity having a banking relationship with the bank. Preferences maintenance enables the Bank AdministratorAdministrator is a set of individuals that administer the applicant/Affiliate entity. For example, Accountants, Authorized Signatories for organizations, Power of Attorney for individuals. 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
• Transaction limits for the users
• Type of approval flow applicable
• Channel access preferences
• Availability of corporate administrator facility

Pre-Requisites

• Transaction access is provided to Bank Administrator.
• Approval rule set up for Bank Administrator to perform the actions.
• Party for which preference needs to be set up is created in core Banking application.

Workflow

Features Supported In Application

Party Preference maintenance available for bank administrator in the application includes:

• Create Party Preferences
• View Party Preferences
• Edit Party Preferences

How to reach here:

Administration Dashboard > OnBoarding > Party Preferences
OR
Administration Maker Dashboard > Quick Links > Party Preferences

Party Preferences- Search

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

System displays a screen to enter the party information (party ID or party name) and search party for which the preferences are to be maintained or viewed.

User can enter the party ID (if known) or the party name with a minimum of 5 characters. System matches the input provided by the user with the party name records and displays the matching party records.

In case of a party search by party ID, it is an exact match and system displays the party preference maintained if any, else displays an option to create party preference.

To search party preferences of party:

1. In the Party ID field, enter the party ID whose party preferences you want to view.
   OR
   In the Party Name field, enter the name of the party whose party preferences you want to view.
2. Click Search.
   If party preference is already maintained, user is directed to Party Preference – View screen.
   If party preference is not maintained, user is directed to Party Preference – Create screen.
   In case of invalid party, error message is shown on the screen.
   OR
   Click Clear to reset the details.
   OR
   Click Cancel to cancel the transaction and navigate the user back to Dashboard.

In case of a party search by name, system displays the matching party records. The records have parties listed with both Party ID and Party Name information. User can select the record by clicking on the Party ID from the list.

3. Click Edit to edit the party preferences.
   OR
   Click Cancel to cancel the transaction.
   OR
   Click Back to navigate to previous screen.

Party Preferences - Create

Using this option, Bank Administrator can configure party preferences for a specific party.

To create the party preferences:

1. In the Party ID field, enter the party ID whose party preferences you want to view. Party ID entered by the user gets validated from the core banking application. After the core banking application validation is successful, a check is performed in application to verify if preferences are already maintained for a party.
   If the preferences are already maintained then user is directed to Party Preference – View screen.
   
2. Click Search.
   The party preference maintained for the party ID appears based on the entered search parameters.
   OR
   Click Clear to reset the details.
   OR
   Click Cancel to cancel the transaction and navigate the user back to Dashboard.

3. Click Create to create party preference.
   The Create screen appears.
   OR
   Click Back to navigate to previous screen.
   OR
   Click Cancel to cancel the transaction.

4. From the Cumulative Daily Limits list, select the appropriate option.
5. From the User Limit list, select the appropriate option.
6. From the Approval Flow list, select the appropriate option.
7. From the Channel Access list, select the appropriate option.
8. From the Enable for Corporate Administrator list, select the appropriate option.
9. Click Save to save party preferences.
   OR
   Click Cancel to cancel the transaction.
   OR
   Click Back to navigate to previous screen.
10. The Review screen appears. Verify the details, and click Confirm.
    OR
    Click Edit to make the changes if any. User is directed to the Party Preference - Create screen with values in editable form.
    OR
    Click Cancel to cancel the transaction.
    
11. The success message of party preference creation appears.
    Click OK to complete the transaction.

Party Preferences- View

Administrator user is directed to Party Preference – View screen if preference for the party is already maintained. Preferences set for the party will be displayed on the screen.

To view party preferences of party:

1. In the Party Id field, enter the party ID whose party preferences you want to view.
   OR
   In the Party Name field, enter the name of the party whose party preferences you want to view.
2. Click Search.
   The party preference maintained for the party ID appears based on the entered search parameters.
   OR
   Click Clear to reset the details.
   OR
   Click Cancel to cancel the transaction and navigate the user back to Dashboard.

3. Click Edit to edit the party preferences.
   OR
   Click Cancel to cancel the transaction.
   OR
   Click Backto navigate to previous screen.

Party Preferences - Edit

Administrator can edit the party preferences maintained for a party.

To edit the customer preferences:

1. In the Party Id field, enter the party ID whose party preferences you want to view.
   OR
   In the Party Name field, enter the name of the party whose party preferences you want to view.
2. Click Search.
   The party preference maintained for the party ID appears based on the entered search parameters.
   OR
   Click Clear to reset the details.
   OR
   Click Cancel to cancel the transaction and navigate the user back to Dashboard.
3. Click Edit to edit the party preferences.
   The Details screen appears along with the party ID.

4. From the Cumulative Daily Limits list, select the appropriate option.
5. From the User Limit list, select the appropriate option.
6. From the Approval Flow list, select the appropriate option.
7. From the Channel Access list, select the appropriate option.
8. From the Enable for Corporate Administrator list, select the appropriate option.
9. Click Save to save Party Preference. User is directed to the Party Preference - review page post necessary validations.
   OR
   Click Back to navigate to previous screen.
   OR
   Click Cancel to cancel the transaction and navigate back to Dashboard.
10. The Review screen appears. Verify the details, and click Confirm.
    OR
    Click Edit to make the changes if any.
    OR
    Click Cancel to cancel the transaction and navigate back to Dashboard.
11. The success message of updation appears.
    Click OK to complete the transaction.

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 1st 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 2nd 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 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 administrator delete Party Preference?

No, party preference cannot be deleted but can be disabled.

If I change the approval type from sequential to parallel or vice versa, what happens to the in-flight transactions/maintenances?

Edited approval type is applicable for new transactions initiated post modification. Previously initiated transactions (in flight transactions/maintenances) which are pending approval will follow an approval type which was applied at the time of transaction initiation.

If I edit the ‘Allowed Roles field’ and remove one of the options supported earlier, what impact will it have to the existing users on-boarded on that role?

Yes, bank administrator can edit and remove the roles mapped as ‘Allowed Roles’. After this change, removed role will not be available to corporate administrator while creating new user and editing existing user. Old users whom the role is already mapped will continue to get the privileges.

Can I edit the limit packages? How does it impact the transactions?

Yes, new limit package can be mapped for party. Limits get applied from an immediate effect if the effective date is less than or equal to current date. And if the effective date is future date, the limit package will be applied from the date available in the package.

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