1.1.3 Common Enhancements - Retail Accounts and Retail Deposits

This topic provides the highlights for the enhancements applicable for IRA retail accounts and IRA retail deposits.

Generic Enhancements

• Introduced a workflow-driven data migration framework for financial and non-financial data, enabling seamless migration of Retail Accounts, Retail Deposits, Individual Retirement Accounts (IRAs) from legacy systems to Oracle Banking Accounts Cloud Service (OBACS).

US Geography Feature Enhancements

• Guardian details are no longer mandatory when adding a minor nominee or beneficiary.
• Garnishment processing now includes a field for recording remarks.
• Account opening process enhanced to support emancipated minors.
• The Interest and Charges maintenance flow has been enhanced with new fields and a redesigned screen to improve the overall user experience.