1. Release Notes
  2. Release Enhancements
  3. Localization Features

2.2 Localization Features

This topic lists all the features that are developed for localization.

Ability to perform Debit Check on Deposit Accounts

  • The Debit Check configuration is set while configuring the product in the Create Business Product screen
  • The decision of the Debit Check Decision can be Approved/Declined/Referred.
  • In case of Declined, the application is auto terminated, and the Decline Letter is triggered.
  • In case of Approved, the application is auto approved and moves to the next step of origination work flow.
  • In case of Referred, the bank user can either approve or reject the application manually.

Current Account to be displayed as Checking Account

At all the places in the Origination flow for current account, the current account is labelled as Checking account and displayed.

Ability to capture of beneficiary type in beneficiary details

  • Nominee Details data segment is named as Beneficiary Details for US localization as part of regionalization.
  • A new flag Payable on Death/Transferable on Death is added as Beneficiary Type in the Beneficiary Details Data Segment for Savings Account, Current Accounts and Term Deposits.
  • If this new flag is selected then it is mandatory to add one beneficiary details.

Ability to perform Debit Check on the added Guardian or Custodian

  • In the account opening origination work flow, if the primary applicant is minor then one or more guardian or custodians can be added. The Debit Check process is triggered for all the guardians or custodians added in the application except the primary applicant who is minor.
  • The bureau data of all the guardians or custodians is displayed in the Bureau Information data segment.
  • The account opening decision is based on the bureau decision of all the guardian or custodians in the applications.

Finicity Integration

  • Finicity integration enables Oracle Banking Origination to get the account details of the customer held with other banks.
  • Customer will access the Finicity portal and login with credentials of other bank, select the desired account.
  • Finicity returns the Account Details to Oracle Banking Origination.
  • Oracle Banking Origination can use the information to initiate Direct Debit transaction for funding the newly opened Checking or Savings account.

Tax validation data fields

  • For Non – resident Alien,
    • In the Customer Information data segment, W8 BEN is defaulted as Form Type, in the Tax Declaration section and will not be editable.
    • The Valid From date of the Form W8-BEN must be the party onboarding date for existing parties or Application Date for new parties. It should be editable and can be edited to future date or past date but not beyond the party creation date.
    • The Valid Till date is auto calculated and displayed. It will not be editable.
    • The Foreign Tax ID is captured in the ID Details section. This field is non mandatory.
    • The Country of Residence is mandatory to capture if the Resident status is Non-Resident Alien.
  • For Citizen or Resident Alien,
    • The Country of Residence field in the Customer Information data segment is to US.
    • In the Customer Information data segment, the Form Type field in the Tax Declaration section is defaulted to W9 Standard and will not be editable.
    • The Valid From date of the Form W9 must be the party onboarding date for existing parties or Application Date for new parties. It should be editable and can be edited to future date or past date but not beyond the party creation date.
    • The Form W9 has no end date so the Valid Till Date in the Tax Details section is not applicable.

ID Type auto formatting

  • An auto validation & formatting feature is now available on the National ID field in the Customer Information data segment where SSN (US) or National ID details are captured.
  • The auto formatting of SSN number is introduced, as the SSN format necessitates the breakup of 9 digits using hyphen (xxx-xx-xxxx).
  • This validation is only for SSN. There is no validation for National ID. All other existing validations of SSN will continue.

Ability to capture military address as address type

  • Military address is captured as one of the existing address type.
  • The Value for City field is captured as Army Post Office (APO) or Fleet Post Office (FPO) or Diplomatic Post Office (DPO).
  • The Value for State field is captured as Armed Forces Americas (AA) or Armed Forces Europe (AE) or Armed Forces Pacific (AP).

Frame work Changes

  • Entity - User is enable to login with either US localization or Default credentials.
  • Customer Information data segment – Some of the basic details fields not pertinent to US geography have been hidden.
  • Address details - Additional Information section is not applicable for US localization login
  • Zip Code – Field size limited to 5 characters.
  • Product Details data segment - Product currency value is defaulted USD so will not appear as UI field.
  • Interest Details data segment - APY calculated and based on product rate is rendered on landing of this data segment screen.
  • Account Preference data segment - Cheque book flag value to be defaulted from business product details.
  • Banking channel preferences section is not displayed for US Region.
  • Account related information section is not displayed the Passbook option.
  • Beneficiary - Address Details - Additional Information section is not applicable for US login.
  • Customer Information data segment - SSN Field replaced with National ID for US region with SSN specific validation. 9 digit and the number not starting with 8 or 9 is existing. The format validation existing currently to input SSN as xxx-xx-xxxx.
  • Customer Information data segment - Addition of Suffix field with US specific dropdown values.
  • Address details - Country is defaulted to US while adding an address.
  • Customer Information data segment - Tax Declaration panel - Should be shown and only for US Region.
  • Logic to auto populate Form Type, Valid from, Valid till in Tax declaration panel based on selection of Citizenship Status - Resident Alien / Non Resident Alien / Citizen.
  • Product Details - Overdraft Requested - This option should only come if the OD flag is on at the product level. This field should be hidden if OD requested at product level is unchecked.
  • Financial Details data segment - Employment Date Range for Salaried employees to be optional for US region.
  • Beneficiary Details Data segment - Add Nominee Button - Renamed to Beneficiary Details data segments, Add Beneficiary for US Region.
  • Account Funding Detail data segment - Cheque Date , Cheque Number hidden for US Region , Account Balance will have USD as default currency and hidden.
  • Current account displayed as Checking account throughout the origination flow.

Parent topic: Release Enhancements