1.2.8 Corporate Accounts

This topic provides information about enhancements in the Corporate Accounts.

Generic Enhancement

Introduced a workflow-driven data migration framework for financial and non-financial data, enabling seamless migration of Corporate Accounts from legacy systems to Oracle Banking Accounts (OBA).

To access Account Migration, user should navigate from new menu path, that is, Corporate Accounts, Account Migration, and then Initiate.

Dashboard & Widget

Account 360 (Account view) now features 2 new widgets – Department Approval and Closure Balance Details, which show data collected during the Department Approval and Financial Clearance phases of the account closure process.

EOD Dashboard Status Widget

Batch Monitoring Dashboard is introduced to track Domain specific batch transactions and view their statuses during batch processing.

Track Receivables

The Track Receivable feature enables the system to handle bank-initiated receivables even if a customer's CASA account lacks enough balance. Rather than declining the transaction, the unpaid amount is noted as receivable. The system will automatically collect the amount when there are enough funds in the account.

Structured Address

A standardized feature for maintaining customer addresses has been introduced to ensure a uniform method for creating and updating addresses across all product processors. It accommodates both structured and unstructured address formats.

Operating Instruction Enhancements

Handling of Account Operating Instructions as part of Account class Transfer process is introduced.

Customer Transfer – Novation

Handling of department approval processing as part of customer transfer is introduced.