B Note on Account Creation

A brief note on account creation feature is covered in this topic.

• Account Creation for New or Existing Customer: OBA Retail has published a comprehensive REST Service, which can be invoked by any Account Origination or Onboarding Application for creating a Savings or Current Account for New or Existing customer. OBA Retail is out of the box integrated with the OBO application.

  Below are features supported by Account Creation Service:

  • Open Savings/Current/Checking Accounts: Single or Joint.
  • Open accounts for a minor with Guardian or Custodian.
  • Setup preferences like Cheque book, ATM, and Digital Banking Channels.
  • Accept special condition for Interest Processing, if defined at account level.
  • Record the statement preferences.
  • Setup applicable limits like Advance Against Uncleared Funds (AUF), Temporary Overdraft (TOD), Secured Limits with Collateral ID and Unsecured Limits.
  • Store Address preferences: Signature ID and Document ID, if sent by the onboarding application.