1.3 Originations

The following enhancements have been made in the Originations module in this release:

Table 1-4 Enhancements in Originations

Enhancements	Description
Regionalization Support for Product Offerings Labels	Banks can now customize labels displayed on the Product Offerings page, including product categories, bundled applications, and application tracker labels, to align with regional and business requirements. Note: There is currently no user interface support for maintaining these labels. Configuration must be completed through the applicable backend process.
Gibraltar Address Maintenance	Address Maintenance now supports Gibraltar-specific local address requirements, enabling applicants to enter their addresses in the appropriate format.
Customer Support Number Configuration	Banks can now configure and maintain their customer support phone number through a new system configuration field. The configured number is displayed on customer-facing screens, including the Origination Application Form Confirmation page.
Additional Applicant Information Captured for Tax Compliance and AML Screening	OBDX Retail and SMB application forms now capture the applicant’s country of birth to support international tax compliance, anti-money laundering (AML) screening, and identity verification. This information is captured for: Primary applicants, joint applicants, and guardians in Retail product applications. Stakeholders in SMB product applications.
Joint Application Support for Loans - Retail RW & US regions	The OBDX Originations module now supports joint applications for Retail Loans (unsecured personal loans, auto loans and home loans). There can be a maximum of two applicants per product application and the primary as well as joint applicants can either be new to the bank or existing customers of the bank. Note – If the primary applicant is applying as an existing customer, they need to be an existing online customer of the bank.
Enhancement in Joint Checking and Savings Account Applications	Joint applications of Retail Checking and Savings account applications are now extended to support primary applicants being existing customers with online banking access.
Auto Loan Enhancement	The retail auto loan application form has been enhanced to capture extensive information of the vehicle being purchased. Information such as Vehicle Identification Number, Condition, Make and Model etc. are now being captured in the application form.
Online KYC Configuration	With this enhancement, banks can now enable or disable Online KYC (applicable for National ID Verification and Liveness Check via Selfie Capture) at the entity level. If disabled Online KYC will not be part of any product applications (Retail & SMB) for the specific entity.
PII Masking of Sensitive Fields	The retail and SMB applications and application trackers have been enhanced to support masking of personally identifiable information such as account numbers, ID numbers, phone numbers, email addresses, etc..
Regulatory Disclosures	In addition to the already supported disclosures, the OBDX originations module now also makes disclosures such as the Cooling off Period and Right to Withdraw disclosure, Loan Agreement disclosure (UK template), Savings and Checking Account Overdraft Agreement (UK template) and the Pre-Contractual Disclosures applicable for Loans, Savings and Checking Accounts; available to retail applicants applying from the digital channel. Based on the configuration in the mid-office system, links to these disclosures will be available to retail applicants on the terms of service page of the applications and/or the application tracker.
Corporate Credit Facility Lead Generation	New to bank corporate customers can now initiate online inquiries on the bank’s offerings towards credit facilities. Once submitted, the customer can also track the status of the inquiry form through the corporate application tracker, also available on the digital channel. Processing of these inquiries are done in Oracle CFPM system and the bank is expected to contact the customer offline to procure additional information including collateral, documents, etc.
Enhanced Guardian Information Capture in Retail Education Loans	The Retail Education Loan Application form has been updated to capture extensive guardian information. The applicant can specify whether the guardian is an existing customer of the bank or has no prior relationship with the bank. If the guardian is an existing customer of the bank only the name, date of birth and customer ID of the guardian need to be provided. If the guardian is new to the bank, the applicant can specify information comprising of the guardian’s basic personal information, identity and contact information.
Online KYC Maintenance Enhancement	As of this release, the OBDX Origination Workflow Maintenance has been updated so as to enable the bank administrator to enable or disable the Online KYC step in the application form of a product category. If enabling the Online KYC step, the administrator can specify the mode of Online KYC to be enabled i.e., either Selfie KYC or National ID Verification.
Relationship based loan interest rates	The Relationship based pricing feature enables banks to reward customers that have existing accounts, investments, or a strong banking history with a lower interest rate as a reward for their engagement with the bank. 2-6 An EMI Calculator has been added against all unsecured personal loan products and can be accessed by existing customers of the bank by selecting the ‘Calculate EMI’ option present on each product card on the Unsecured Personal Loans listing page. Once the customer enters the loan amount, tenure and other required information on the EMI Calculator screen, the system will calculate and present the customer with a preferential rate of interest that is derived with the help of the PDS tool considering the customers relationship with the bank. The customer will be able to view the breakdown of the interest rate and can also view the loan repayment schedule. If the customer finds the interest rate suitable, they can apply for the loan on the EMI calculator screen itself by selecting the Apply Now option. The loan amount and other information entered on the EMI Calculator is then pre-populated on the Loan Information screen in the application form that is generated. This feature is available when OBRL is the host system and at present is available in OBDX for Unsecured Personal Loan products for the US region.

Other Enhancements

Table 1-5 Other Enhancements

Enhancements	Description
Online Banking Access Flag	All Retail (US and ROW) & SMB applications that involve new to bank/prospect applicants (primary, joint and guardians included) have been updated to send a flag identifying that the applicants should be given access to the online banking channel as well as phone and kiosk banking access. The options for Digital Banking, Kiosk Banking and Phone Banking that were previously available on Retail Savings Account, Checking Account and Deposit applications and on SMB Savings Account and Checking Account applications will no longer be displayed in the application forms.
Collateral Enhancements in SMB Loan Applications	The collateral information section of the SMB loan applications has been enhanced specific to the capture of information for collateral type, Vehicle. The applicant can now specify extensive information of the vehicle being added as collateral, which will include the type of vehicle i.e passenger or commercial, capacity, vehicle identification number, condition etc..
Disbursement & Repayment Enhancements	This section of the Retail and SMB loan application forms has been streamlined to capture essential information only.
Regionalization Enhancements	The following enhancements have been made in the OBDX Originations module in this release, utilizing the regionalization framework: Address Regionalization Regionalization enhancements focusing on UK, US and India regions have been made so as to support capture of addresses specific to each region. Product Offerings Page Maintenance The bank administrator can now maintain the product offerings page available pre-login as well as post login on the digital channel. The maintenances include updating the product category names, the informative text displayed in each product category card as well as the labels of the customer categories. These changes can be made at entity level.
Zip Code Enhancement	The zip code field has been enhanced to support entry of alphanumeric characters as well as certain special characters and spaces. This enhancement has been made so as to support capture of zip codes/postcodes of regions that have alphanumeric, spaces and certain special characters included in the zip codes/postcodes. This enhancement has been made in Retail & SMB ROW application forms.
US Region specific Enhancements	The following enhancements have been made specifically to the US region product application forms: Service Member/Defense Officer Information The set of fields pertaining to service member/defense officer information in the US personal loan and US credit card application forms has been streamlined to capture important information only. External Account Information Capture Enhancements This enhancement is applicable to the Disbursement & Repayment section of the Unsecured Personal Loan application. The information to be captured in case an external bank account is being entered for loan disbursement and/or repayment has been enhanced to be specific to the US region. Gender Validation extended to Joint Applicants Certain banking products might be offered to certain groups of retail applicants. E.g. Home Loans created just for women. In order to support such product applications from the digital banking channel, validations need to be in place to ensure that only women can apply for such products. This validation was already in place for primary applicants. The same has now been extended to also support validation of gender for joint applicants.
Interest Rate Types for Loans	In case the loan product being applied for supports both fixed and flexible interest rates, then the applicant will be provided with the option to make a selection on the Loan Information section of the application form. This field has also been added on the EMI calculator of Personal Loan products available to existing customers. This enhancement is applicable to all loan product applications across Retail Generic (ROW), Retail US LZN and SMB.
Units to capture loan tenure	The units supported for a loan product (Years, Months and Days) to capture the loan tenure can vary as maintained in the mid-office. Hence, there has been an enhancement made in OBDX to only display those units to capture loan tenure in the application form that are supported for the loan product. These can be a combination of Years, Months and Days. This enhancement is applicable to all loan product applications across Retail Generic (ROW), Retail US LZN and SMB.
Offer Letter Rejection Reason	This enhancement is applicable to retail loan applications as well as retail savings and checking applications in which the applicant has opted for overdraft. If the applicant rejects the loan or overdraft offer from the application tracker, they are required to provide a reason for which the offer is being rejected. The means to capture the rejection reason has been updated in the mid-office system. Hence, this feature has been enhanced in OBDX as well to enable the applicant to select multiple reasons, as required.
Interest Payout Frequency for Deposits	This feature is applicable when the host is RDEP. Previously the only interest payout frequency supported was Monthly. With this enhancement, the interest payout frequencies supported for the term deposit/certificate of deposit can be Weekly, Monthly, Quarterly, Half Yearly, and Yearly.
Retail Unsecured Personal Loans for Women	This feature is specific to the Retail Unsecured Personal Loan applications in the US region and has been introduced so as to facilitate loans designed by the bank specifically for women. Hence, the field Gender has been added in the Personal Information section of Retail US LZN Unsecured Personal Loan application forms. This field will be mandatory for all Retail US LZN Unsecured Personal Loan application forms that are designed specifically for women and if the applicant selects any value other than ‘Female’ they will not be able to proceed with the application form.
US region specific changes	The field to capture Statement Mode has been removed from under the Account Specifications sections for checking accounts, savings accounts and certificates of deposit product application forms. The field 'Rank' has been added under the list of fields captured if the applicant is a serving defence officer or is a dependent of a serving defence officer. This information is captured only for Credit Cards and Unsecured Personal Loans applications.
Application Form PDF enhancement	The Application Form PDF, containing all the information that was entered in the application form and available to the applicants from the application tracker, will be generated by the mid office (OBO) system as per standard template. Previous to this release, it used to be generated by OBDX.