1 Checking Account Application
This topic describes the structure of the Checking Account application, which captures information regarding the applicant's personal, employment, nominee information and financial information.
OBDX supports both single as well as joint applications for checking account products (depending on whether the product, as maintained in the mid-office system, supports joint applications). If the product supports joint applications, the option to apply jointly will be provided on the kickoff page. On selecting this option, the application form will be adapted to also capture information of joint applicants. This will include the joint applicant’s personal information and, depending on the maintenances in the mid-office system with regards to capture of financial and employment information, might also include sections to capture this information of the joint applicant.
The application form is OCR (Optical Character Recognition) enabled so as to save the applicant’s time and effort in filling out the application form. The inline document upload feature that is provided on various sections of the form, enables the applicant to upload supporting documents to have the specific section prefilled with information.
Online KYC of the prospect (primary applicant as well as joint applicant) can also be conducted by means of liveness check or through integration with third party identity verification service providers. For more information, please refer User Manual Oracle Banking Digital Experience Originations - KYC Modes. Once the online KYC of the applicants are completed successfully, the personal information sections of each applicant will be prefilled with information fetched from the identification proof documents uploaded as part of the online KYC process.
In case the applicant is an existing digital banking customer (only supported in case of single applicant applications and not joint applications), he/she can simply provide his/her online banking credentials to have his/her personal information and if required, his/her employment and information sections of the form prefilled with information as maintained with the bank.
The application form also has the feature of QR code scan enablement which can be used to continue applications on mobile devices.
The application tracker has been built so as to enable tracking of the application once it has been submitted. The application tracker also enables the applicant to retrieve and complete an application that has been saved. Additionally, the applicant can view documents that have been uploaded as part of the application form and can also view details as defined in the application form in PDF format.
Note:
- OBDX is integrated with Oracle KYC to fetch the applicant’s risk level (high risk or low risk) along with the reference number for the same as generated in the Oracle KYC system, at the time of application submission. OBDX will further send this information to the mid office system to be utilized as required.
- At present, only the primary applicant will have access to the application tracker.
- Currently, in the case of joint application forms, OBDX only supports the scenario where both the primary as well as the joint applicant are new to the bank i.e. neither of the applicants can be existing customers of the bank.
- Product Selection: All the products belonging to the selected product category will be listed here. Each product will be listed as a separate card which will display the name and image of the product along with a short description, features and the options to view further details, or to apply for the product. The additional option to select the product so as to compare it with others within the same category will also be provided on each card. You can select a maximum of three products for comparison.
- Kick Off: This page serves as an introduction to the application form. You can also view the documents required to be uploaded as part of the application. As an applicant, you can identify how you are going to proceed with the application – whether you want to apply for a single or joint account, If you, the primary applicant, are a new/unregistered user, you can continue as a guest, or if you are an existing online banking customer (not supported for either primary or joint applicant in case of joint application forms) you can login with your online banking credentials to have your information pre-populated in the application.
- Mobile Verification: This step is applicable if you are filling out the application as a new/unregistered user. You will be instructed to enter your mobile number, after which the system will identify whether your mobile number is already registered with the bank or not. You will then be required to enter the OTP sent to this mobile number in order to proceed with the application form. Please note – as of this release, mobile verification is applicable only for the primary applicant even in the case of joint application forms.
- Online KYC: Online KYC of the applicant/s can be done through
any of the following modes, depending on which mode has been enabled by the bank
in the Originations Workflow Maintenance screen available to bank
administrators.
- Liveness Check – Selfie Capture
- (National) ID Verification
For more information on Online KYC and modes, please refer to the user manual User Manual Oracle Banking Digital Experience Originations - KYC Modes
- Personal Information: This section captures information pertaining to the applicants’ personal information which will include full name, date of birth, address details, etc. In case, you have skipped online KYC, you can opt to upload an identity proof document to have the information on this section pre-populated or you can alternately enter the required information manually. In case of joint application forms, there will be two sections to capture personal information i.e. one to capture the personal information of the primary applicant and another to capture the personal information of the joint applicant.
- Employment Information : Employment information of the
primary and or joint applicant might be required to be captured or can also be
an optional step in the form, depending on certain product maintenances in the
mid office system. In case the product supports overdraft and if it is opted
for, then the employment as well as financial information of atleast one
applicant will be required to be captured mandatorily.
Depending on whosever employment information is being captured, the first record will have to be that of the current main source of employment. You can also add additional records to capture other current or past employment details.
- Financial Information: Similar to employment information, the capture of financial information is dependent on the maintenances in the mid office system that impact the product being applied for. Also if the overdraft feature is opted for, it would be mandatory to capture the financial information of atleast one applicant in the form
- Checking Account Specifications: The bank may offer certain add-on services for the account. These might include a Debit Card, Passbook, Cheque Book, Access to Direct Banking, Phone Banking, etc. In this section, you can define your preferences with regards to these features. You can also specify the currency in which you would like the account to be maintained and define your preferences regarding account statement frequency and mode of delivery. In case of joint account applications forms, you will be able to provide specifications related to optional services available to both the primary as well as the joint applicant separately. There will also be an additional sub section under this section in which you can specify the mode of operation of the account.
- Nominee Information: If you wish to do so, you can specify details of your nominee in this section. Nominee details will include basic information such as name, date of birth, address etc. In case the nominee is a minor, you will have to mandatorily also specify information of the nominee’s guardian.
- Review and Submit : Once you have filled out all the information required in the account application form, you will be displayed this information on the review page. You can verify the details provided and if required, can edit the information in any sections by selecting the option provided against each section.
- Terms of Service :On having reviewed the application, you
can then proceed to view the terms and conditions of the account application you
are applying for. In case of joint account application forms, this section will
list down the terms and conditions specific to the product being applied for, as
well as terms and conditions that are required to be read and accepted by each
of the applicant, separately. The signature sub section will also have a
provision to capture the signature of both applicants.
Digital signatures can be added by uploading a document containing the applicant’s signature or by physically signing the provided space in case the application is being filled out from a touchscreen device.
- Fund your account: This step will be part of the application
form if it has been configured for Checking Accountapplications. Through this
step you will be able to fund your new account if you wish to do so. If you opt
to fund your account, you will be required to specify the initial deposit amount
and then proceed to furnish information regarding mode of transfer. In case of
single applications, if you are a prospect applicant, you will be navigated to
the payment gateway where you will be able to specify information related to the
mode of transfer. If you are an existing customer you will be provided with the
additional feature of being able to select any of your existing savings or
checking accounts that you hold with the bank, from which to transfer funds. The
same will be the case if in the case of joint applications, the primary
applicant is a prospect or an existing customer.
Note:
In case a prospect is applying, this step will be part of the application form only if host integration is third party. - Confirmation :Once you have submitted your application after
having reviewed it and having accepted the terms and conditions, a confirmation
page will be displayed. This page will display a success message along with the
application reference number. You can track your application on the basis of
this reference number. Additionally, this page will also contain a button, by
clicking on which you can navigate to the application tracker.
Note:
In the case of joint application forms, only the primary applicant will have access to the application tracker.
Apart from the Review and Submit and Confirmation steps, the sequence of the remaining steps may vary based on the configuration maintained for the product applications, by the bank.
- Perform anyone of the following navigation for the Checking
Account application.
- From the Bank Portal page, goto Product Offeringssection, and then click Retail tab. Under Retail tab, click Personal tab, and then click Checking Account.
- From the Bank Portal page, click Customer Services
, then click Our Products .
Under Our Products, goto Product Offeringssection, click Personal, and then click Checking Account.
- Checking Account - Product Listing
This topic describes the page on which the Checking Account products offered by the bank that can be applied for online are displayed. - Checking Account - Product Details
This topic describes the product details page. - Checking Account - Product Comparison
This topic describes the functionality that enables users to compare the features of products within a specific product category. - Initiate Application Kick Off
This topic describes the product application process that you need to fill out to apply for the product. - Mobile Number Verification
This topic describes the registration process for guest customers, enabling them to track submitted applications and retrieve abandoned applications. - Personal Information
This topic describes the section of the application form where you provide your personal information. - Employment Information
This topic describes the section where you can provide your employment details. - Financial Profile
This topic describes the section where you can provide details pertaining to your income, expenses, assets, and liabilities. - Checking Account Specification
This topic describes the section where you can specify your service preferences. - Nominee Information
This topic explains the section of the application where you can provide nominee information. - Review and Submit
This topic describes how to review and edit your application summary. - Terms of Service
This topic describes the terms and conditions associated with the product for which you are applying. - Fund your account
This topic describes the option that allows you to fund your checking account by specifying an initial deposit amount and providing the details of the card or account to be debited. - Submitted Application - Confirmation
This topic describes the confirmation page that appears after application submission. - Existing User
This topic describes the product application process for existing customers.