Party preferences

PartyClosedA party is any individual or business entity having a banking relationship with the bank. Preferences maintenance enables the Bank to define certain parameter like limits, approval flow, channel access permission etc. This maintenance is done only for corporate type of parties and is not applicable for retail type of parties.

Corporate Administrators can only view the preferences set for a corporate party by accessing the Party Preferences screen. Corporate AdministratorClosedAdministrator is a set of individuals that administer the applicant/Affiliate entity. For example, Accountants, Authorized Signatories for organizations, Power of Attorney for individuals. does not have the rights to maintain or edit the party preferences.

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

Prerequisites

Features Supported In Application

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

You are here 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 Name

Description

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

Grace Period

Provision of certain period of time is made to allow user to approve the transaction after the actual due date.

Approval Flow

The approval type for the party.

The options are:

  • Sequential
  • Parallel
  • No Approval

Channel Access

Whether the corporate user can transact through channel banking.

The options are:

  • Enable : Allows corporate administrator to enable the party for channel access
  • Disable: Allows corporate administrator to disable the party for channel access

Forex Deal Creation

Whether users associated with a party can create forex deals.

The options are:

  • Enable : If this option is enabled, corporate user associated with this party can create forex deals
  • Disable: If this option is disabled, corporate user associated with this party cannot create forex deals

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

This field lists the type of roles that will be available to the Corporate Administrator while on-boarding a user for the corporate party. Out of the box Application roles available for a corporate 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.

Cumulative Limit

This displays the cumulative daily limits (CCL) package associated to the party. All the touch points and touch point groups for which the limit package is associated are displayed here.

Touch Points/ Group

Name of touch points/ groups maintained, for which the limit package is to be mapped.

Also an option is provided to map the limit package at Global level (a system created group with all internal and external touch points).

Package

Limit packages maintained for the selected touch point will get listed here.

User Limits

This field displays customer user level limits (CUL) mapped to the party. All the touch points and touch point groups for which the limit package is associated are displayed here. Also an option is provided to map the limit package at Global level (a system created group with all internal and external touch points).

Touch Points/ Group

Name of touch points/ group maintained, for which the limit packages are to be mapped.

Package

List of the packages available for mapping to touch points/ group are listed here.
  1. Click Cancel to cancel the transaction and navigate back to ‘Dashboard’.

FAQs

ClosedWhat 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.

ClosedWhat 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.

ClosedWhat 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

ClosedWhat 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.

Closed 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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