Functional Features

This section explains functional features that are enhanced or added in this release.

1. Product Bundling
   • Bundle creation and origination
     • Ability to originate a product bundle comprising of multiple products in a single application.
     • Ability to call the host system for getting the bundle details and display in the application.
     • Ability to apply the bundle benefits to the application and pass the bundle benefits to the host system
2. Buy now pay later
   • Buy Now Pay Later (BNPL) functionality enables online platforms and merchants to initiate and fulfill BNPL loan applications.
   • Oracle Banking Origination exposes APIs for loan eligibility, interest rate calculation, and installment scheduling, with seamless integration.
   • The feature includes risk-based pricingand quick account opening, ensuring a streamlined process for small-ticket loans.
3. Relationship pricing
   • Ability to call lending/deposits host system for Relationship Pricing Benefit margin for loan and deposit applications
   • Ability to pass the Product Interest Rate which can include Product Margin, Bundle Margin, Risk based Margin, Relationship Benefit Margin, and the repayment schedule to Oracle Banking Digital Experience.
   • Extending Relationship Benefit functionality for assisted channel applications
4. Enhancements in Loan Origination
   • Insta personal loan

     Oracle Banking Origination (OBO) now supports a quick account opening process in origination workflow. This workflow is available for initiating an account opening process for unsecured personal loan. This product is introduced as insta personal loan.

     Insta personal loans can be originated in the self-service channels as well as assisted channels. The following combinations are allowed:

     • OBDX Initiated - New and Existing Customer – (For New Customer KYC compliance is handled STP)
     • Branch Initiated - Existing Customer – (KYC compliance already available)

     The workflow is designed with the minimum stops before the account creation request is sent to the host. It is mandatory to capture details in the Application Initiation and Application Entry stage in full application mode.

     The following data segments are introduced in the Application Entry stage to enable the STP of the loan origination flow:

     • Interest Details
     • Charge Details
     • Disbursement Details
     • Repayment Details
     • Qualitative Score Card

     The Loan Assessment and Offer Issue stages occurs automatically. In the origination flow, if the loan assessment stage is approved then offer is issued to a customer and the Offer Accept / Reject stage is triggered. In this stage the customer response is captured as Accept or Reject. The system proceeds based on the captured response.

     • If the response is Accept, then the system approves the loan account creation and the final payload is pushed to the host for account creation.
     • If the response is Reject, then the application is terminated, and a rejection advice is sent to the customer.

     In case of exception are also handled where the manual assessment recommendation is provided by the Decision Service. Based on the response captured in the Manual Credit Decision stage, the subsequent approval or rejection workflows are inline as explained above.

   • Loan simulation, quick assessment and quick account opening
     • Introduction of a new Loan Simulation feature, enabling bankers to Simulate repayment schedules, interest details, and borrowing power for prospective loan applicants without starting a full application.
     • Bankers can save simulations as inquiries, retrieve them later, and access early decision-making capabilities as part of Quick Assessment after Loan Simulation.
     • Loan Simulation, Quick Assessment and Quick Account Opening features are available for loans which are offered for Individual type of customers and includes configurable options for pricing, borrowing power, and credit decision.
     • Quick Account Opening feature is an extension of Loan Simulation and Quick Assessment. Bank can use this feature for small ticket unsecured loans.
   • Simplified process is introduced for personal loan accounts
     • The simplified account opening process is introduced for Personal Loan Account products. This process is applicable only if the Simplified Application flag is selected for the product while configuring in the Business Product Preference data segement of the Business Product Configuration screen.
     • In this process, the Initiation and Application Entry stages are combined to enable capturing of all relevant information for account opening.
     • Capability to create a direct application with multiple data segments in a single view.
   • Loan origination with fixed and floating rates
     • Loan origination now supports both fixed and floating interest rates for a single loan account, allowing an initial period with one rate type followed by another.
     • "Fixed Rate Component" and "Floating Rate Component," have been added to Business Product Preference to define rate applicability at different loan stages.
     • The Interest Details data segment dynamically displays only the applicable interest type based on the selected rate type and loan stage.
   • User-defined repayment schedule (UDS)
     • The User-Defined Schedule (UDS) is introduced as a new Stage Type in loan origination, allowing users to create custom repayment schedules based on their financial needs
     • This feature is available for both Retail and SMB loans. UDS provides flexibility in defining installment amounts and repayment frequencies.
   • Support for Moratorium - EPI and IOI - EPI Repayment Stages
     • Users can configure MOR-EPI, IOI-EPI, and MOR-IOI-EPI repayment stages in Loan Origination.
     • The system validates stage sequence as per business product preferences.
     • Users can view & generate repayment schedules based on these configurations
   • External Refinance feature

     External refinance details are captured in the origination flow. Based on the business requirement, the user can enable the external finance required flag in the business product configuration screen. This flag is available only for loan product types.

     In the product details or loan details data segments of account opening workflow, the external refinance toggle is introduced to capture external refinance details. The external refinance details section appears if the toggle is selected. In this section user can capture other bank loan details which is proposed for external refinance.

     The added collateral in the loan account opening application can be earmarked to the refinance. The settlement of the disbursement amount is included in the GL account or an external account. The details are available in the external refinance summary as part of the loan disbursement details.

   • Ability to schedule bullet repayment
     • A new repayment type, bullet repayment, is introduced in the loans origination workflows within the repayment details data segment
     • Bullet repayment helps to enable repayment of interest and principal in the last installment. The other existing repayment types will remain unchanged.
     • If bullet is selected as repayment type, the first installment date is defaulted to maturity date and number of installments is default to 1. The repayment schedule is accordingly generated.
     • Moratorium not allowed for bullet type of repayments. If bullet type is selected as repayment and if moratorium is allowed at business product, it will be defaulted to zero (0) at application level and this field will be disabled.
     • The bullet repayment type option is available for loan repayment only when oracle banking origination is integrated with FLEXCUBE Universal Banking Service (product processor).
   • Loan disbursement related enhancement - ACH as a disbursement mode and split disbursement
     • The new option the Automated Clearing House (ACH) is introduced in the disbursement mode list of the loan disbursement data segment.
     • Ability to split the disbursement between different modes in case of single disbursement schedule is supported
   • Loan repayment related enhancement - ACH as repayment mode
     • The new option the Automated Clearing House (ACH) is introduced in the repayment mode list of the loan repayment data segment.
     • In the business product configuration screen, new fields are introduced to set the repayment schedule such as,
       • Stage
       • Supported Term Units
       • Max Term <Term Unit>.
       • Default Term <Term Unit>
       • Repayment Frequency
       • Default Frequency
   • Adverse action notice with reject reason
     • Ability to capture and assign adverse action reasons for loan applications, both in auto-rejection and manual-rejection scenarios.
     • A new multi-select dropdown field allows users to select one or more predefined reasons (e.g., "Low credit score" or "inaccurate details") during the assessment, manual assessment, or manual decision stages.
     • Upon submission, an adverse action notice is automatically generated and sent to the customer. The notice will have the selected rejection reasons. This enhancement ensures compliance and improves transparency in credit application rejections.
   • IPA Offer letters – viewing enabled in self-service channel.

     In the service channel, as an in principle approval feature to view the IPA letter or advice is enabled in OBDX. The Loan applicant can view the in principle approval advice if the IPA request has been successfully approved by the bank.

   • Display for APR details in repayment schedule or repayment details data segment as provided by the product processor.

     Ability to display the Annual Percentage Rate (APR) for Loans in the Repayment Details Data segement or Repayment schedule. The calculation of APR is done taking into consideration the Interest, Charges, Fees and other costs by the Host system. This gives the borrower the accurate figure of the total cost of the loan.

   • Capturing of ownership details for all type of collateral available.

     Ability to capture the ownership details for all types of collateral supported in Oracle Banking Origination (OBO). If the joint applicant provides the collateral support, then the ownership details and the percentage of ownership are captured. These values are stored and pushed to downstream.

     The Collateral Summary details appears in the Collateral Perfection Details data segment of the Account Approval Stage. This collateral summary appears only for Property type of collateral.

   • Link service member details and insider details in relationship tab
     • The user can link the service member details as related party under the service member tab of the relationship data segment in oracle banking origination.
     • The user can link the Insider details as related party under the Insider tab of the Relationship data segment in oracle banking origination.
   • Account level consent for joint loan applications

     Additional questionnaire for recording the consent of the Joint Loan applicant also is now available at the Loan account level - Terms and Conditions data segment.

   • Ability to capture the account level address for loan accounts
     • The Account Address Preferences section is introduced to select the account address from the drop down list in the Loans Details data segment of the Application Entry stage.

       The account address appears in the drop down list in the below format:

       <First Name>, <Applicant Role>, <Address Type (Current Address with or without preferred flag)>, <Address>.

     • All the addresses captured for all the applicants involved in the application are listed in the drop down list.
     • The selected address is stamped as an account address and is sent to the host system.
   • Offer letter rejection reasons
     • In the application rejection flow, a multi-select picklist for capturing rejection reason is introduced. List of reasons are configured via Reason Code Maintenance.
     • This feature ensures better tracking and communication of rejection reasons.
     • When an offer is rejected for Loans and CASA with OD products, users can select one or multiple predefined reasons (e.g., "Interest rate too high" or "Received a better offer").
     • The selected reasons are included in the Offer Letter Rejection Advice sent to the customer.
5. Party related enhancements
   • Financial details - basic static enhancements

     Ability to capture the basic details of the applicants based on the employment type is enabled in the Financial Details data segment. The organizational details with in the Employment Details sections are introduced to capture them as basic details. Below sections are introduced to capture the employment details:

     • Salaried
     • Self – Employment / Professionals

     Based on the configuration in the Business Product Preferences data segment of the Business Product Configuration screen, the financial and employment details are enabled for deposit product such as Saving, Current and Term Deposit.

   • Ability to perform an early know your customer
     • The Early KYC toggle is introduced in the common configuration section of the Business Product Preference data segment in the Business Product Configuration screen.
     • If the Early KYC toggle is selected while configuration then the KYC call is trigger to Oracle Banking Party Services once the applicant data is captured.
     • Once the KYC status for all the applicants in the application are Compliant, the user can continue and proceed to the next data segment.
     • If the KYC status of any applicant is non-compliant or yet to verify KYC status then the user can go to the KYC amend screen of Oracle Banking Party Services and mark the status as compliant. The user is allowed to manually update the status even if the KYC type is configured as Automatic. Once the status is complied, party service sends the updated status to Oracle Banking Origination and user can proceed with the account opening flow.
   • Ability to search a party advance parameters
     • Party search is enhanced with advance search parameters. Regular search parameters are based on Party ID or CIF ID from Common Core. Advance search parameters are from Oracle Banking Party such as, Name, Mobile number, SSN/National ID/Unique ID, DOB, email ID, and soon on.
     • This party search section appears in multiple data segments as mentioned below:
       • Customer Information
       • Relationship
       • Stakeholder
       • Add-on Card Holder
   • Ability to search the unique ID and display the column name based on the localization
     • Unique ID should be displayed in the search party screen under search results table. The value displayed should be preferred unique ID value captured for the party in Party Module.
     • In the Advance Search section the field label should appear as based on the localization configuration such as,
       • The field appears as Unique ID and National ID for other region.
       • The field appears as Unique ID and SSN for US region.
     • The search result table also displays the column name as per localization.
       • The column name appears as National ID for other region.
       • The column name appears as SSN for US region.
     • The search parameter is applicable for both Preferred and Non Preferred while searching the Unique ID field in the ID Details within party records for all ID details.
     • In the Applicant and Relationship data segments while searching party, the system should limit the search within the customers records of party module.
     • In Stakeholder Details data segment both customer as well as non-customer records are allowed to fetch in party search results.
   • Enhancement of applicant data
     • Ability to capture new field for Salutation for applicants.
     • Ability to capture different contact sub-type for mobile and email.
     • Ability to capture employer address.
     • Ability to capture time zone for the different channels for Mobile, SMS, Whatsapp in marketing communication section.
   • Enhancement in search filter for customer category
     • Ability to fetch only Individual and Small and Medium Business type customer from Party for Account Onboarding.
   • Ability to add multiple addresses for an address type
     • The user can configure multiple address capture for an address types in the Address Stability Applicable Products section in the Origination Preferences screen.
     • The user can configure the number of years for which multiple addresses are captured.
     • The Address From Date and Address To Date is mandatory for all address types for which stability configuration is maintained for the previous addresses.
     • The Current Address flag is mandatory for the address type for which stability configuration is maintained.
     • The Address To Date is not applicable when the Current Address flag is selected.
   • Ability to mandatorily capture one preferred ID type

     Ability to capture one of the ID details as Preferred. This field is mandatory is the ID Status is selected as Available, as it is mandatory to provide one of the ID details as Available. Preferred flag is not allowed for more than one ID details, if the ID Status for more than one is selected as Available.

   • Ability to capture, edit and view the stake holder details
     • View option is now available in the stake holder information data segment.
     • Additionally, the user can now amend the entered details of non-customers during the origination of SMB applications
   • Address search and auto population of address details

     Capability to integrate with external address search engines like Oracle address or any other third-party vendor. The Address search feature has been plugged in the address section of the Customer information Details data segment.

     The user will have the option to search with any given string in this address search field, and the suggested addresses are displayed for the user to select. Once selected, all the details will be propagated in the respective address fields which are maintained in the UI. The user will also have a choice of editing the same, or even capturing a completely new address.

   • Ability to capture contact details for party
     • As part of origination workflow, in the Customer Information data segment, the user captures the contact details for a party apart from the address details.
     • This contact details are used for capturing the marketing communication consents in the Customer Consent and Preferences data segment.
   • Ability to select the state based on the state maintenance configuration in address details section

     The State is selected from list using search icon. On clicking search icon, the list of State that are mapped to the particular country appears in pop up window.

   • Ability to capture suffix details for a customer
     • A new optional field Suffix is added in Customer details to capture suffix.
     • It is applicable for Individual type of Customers and applicable for all the roles.
     • It is applicable in below data segments in which party personal information is captured.
       • Nominee Details
       • Add-on Card Holder
       • Stakeholder Details
       • Solicitor Details
       • Guardian for minor Nominee
     • The values of the Suffix dropdown are configurable in entity codes in Oracle Banking Party.

   • Ability to capture the service member details for all the roles

     In the Relationship data segment of retail loan application, the user can capture service member for all the applicants involved in the application. The separate sections appears with the names and roles of the applicant. User can expand the section and capture the service member details for respective the applicant.

   • Ability to handle frequency and multi-currency while capturing financial details of applicants
     • The Financial Details data segment is revamped for better user experience to capture Income, Liability, Asset and Expenses as required.
     • Income, Liability, Asset and Expenses can be captured in any supported currency and the same is converted to the account currency.
     • Income and Liability can be captured for any frequency and the same is converted to monthly frequency.
6. Enhancements in current account, savings account, and term deposit
   • A new account funding stage introduced in current or saving account opening process
     • The new stage Account Funding is introduced in the account opening process for Checking or Saving Account. This stage is configured in Business Process screen under Checking and Saving Product. This stage appears once the checking and saving account creation in the host is successful.
     • Funding can be done using the different modes such as, External Account (Finicity), Own Internal Account, Fund Later
     • This new stage is auto-launched based on the configuration done in Domain Specific Language (DSL).Once the task is submitted by the user from a stage before account opening and the account is successfully opened, then the Account Funding stage is auto-launched.
   • Ability to capture the account level address for current account and saving accounts
     • The Account Address Preferences section is introduced to capture the account address from the drop down list.
     • The account address appears in the drop down list in the below format:

       <First Name>, <Applicant Role>, <Address Type (Current Address with or without preferred flag)>, <Address>.

     • All the addresses captured for all the applicants involved in the application are list in the drop down list.
     • The selected address is stamped as account address and sent to the host system.
   • Simplified Process is introduced for current account and Savings Accounts
     • The simplified account opening process is introduced for Current and Saving Account products. This process is applicable only if the Simplified Application flag is selected for the product while configuring in the Business Product Configuration screen.
     • In this process, the Initiation and Application Entry stages are combined for submitting the account opening application.
     • Capability to create direct application with multiple data segments in a single view. The free task is created in case it is saved to proceed later.
     • The Documents and Clarification section are revamped for better and intuitive user experience. The functionality remains unchanged.
   • Simplified Process is introduced for term deposit accounts
     • The simplified account opening process is introduced for Term Deposit products. This process is applicable only if the Simplified Application flag is selected for the product while configuring in the Business Product Preferences data segment of the Business Product Configuration screen.
     • Multiple stages are combined which enables a quick and easy account opening
     • In this process, the Initiation and Application Entry stages are combined to enable capturing of all relevant information for account opening.
   • Funding and payout instructions for term deposit accounts

     The Funding and Payout Instruction data segments are introduced for the user to initiate the funding amount and to set payout instruction of the maturity amount of the Term Deposit account.

     In the Payout Instruction data segment, the maturity instruction options as mentioned below are introduced to set the maturity instructions for the term deposit account.

     • Renew Principal and Interest
     • Special Amount Renewal
     • Renew Principal and Redeem Interest
     • Redeem Principal and Interest
   • Support for selection of interest payout frequency at account level for term deposits
     • Ability to configure different Interest payout frequency for a Term Deposit business product.
     • For each of the Deposit products, bank can configure one or multiple allowed payout frequency from Weekly, Monthly, Quarterly, Half-Yearly, and Yearly.
     • If bank wants to restrict to only one payout frequency, that can be achieved by configuring only one allowed frequency for that product. If multiple allowed payout frequency is configured, during origination one of them can be selected from an LOV based on customer needs.
   • Generate welcome letter for current account, savings, account and term deposit products

     Ability to generate and dispatch the welcome letter of account creation. This welcome letter is applicable for Current Account, Saving Account and Term Deposit products.

7. Enhancements related to customer consents
   • Ability to capture the customer consent and preferences for each applicant in a joint account

     For Joint Account Originations the Consent & Preferences are displayed for all the applicants, respectively. The workflow has the ability to capture and store the consent and preferences of each applicant in a joint account origination.

   • Customer consent email preference, phone number & fax details capture

     Ability to capture explicit permission or consent from customers before sending them marketing or transactional communications via various delivery modes.

   • Ability to capture terms and conditions for a product

     Ability to capture the terms and condition questionnaire in the Term and Condition data segment for all the products. This questionnaire is configured in the Questionnaire Maintenance screen. In the origination workflow this data segment is validated before opening an account. It is mandatory to capture and accept term and conditions for all the products.

     Account related data like nominee details, activity profile, consents, Terms and Conditions, is passed to Oracle banking Routing Hub to enable the product processors to consume the related data.

   • Ability to validate that all the terms and conditions have been accepted before proceeding with account opening

     Ability to validate that the customer has explicitly agreed or accepted the terms & conditions before allowing further processing and completion of the account origination.

   • Fetching of consent & preference details for existing customer details - when onboarded from Oracle Banking Origination and reused as existing customer for a new product origination

     Ability to reuse the existing consent & preferences given by existing customer for their new origination requests.

   • Dynamic display of questionnaire

     The Questionnaire ID is maintained in the Questionnaire Maintenance screen. In order to fetch questionnaire ID in the account opening workflow, OBO initiates a call to Decision Service for questionnaire set and the set appears on the below data segments:

     • Customer Consent and Preferences – The question header appears as the section header.
     • Product Details or Account Details – The question header appears as the section header in the Activity Profile section.
     • Term and Conditions.
   • Consolidation of terms and conditions and consent and preferences data segments
     • In both data segment, Term and Conditions and Consent and Preferences, the UI appearances are enhanced for better view. The details appears based on the applicant view.
       • The first section inside the applicant panel is the Consent across the products. It displays all the terms and conditions maintained in the questionnaire for all products.
       • The second section show the product wise terms and conditions.
       • For the terms and conditions, a hyperlink of the document maintained in questionnaire is provided on the consent text.
       • The third section is the Preferences and Consent. It displays all the consents details such as E-Sign, Marketing Communications, and Privacy Information. The consents in this section are the party level consents that are stored in the Oracle Banking Party Services
     • For minor, the custodian or guardian name is displayed.
8. Other enhancements
   • Rejection advice generation for all product originations

     Ability to generate the rejection advice for all the product originations. The rejection advice is generated once the application is rejected and same is communicated to customer through email. The rejection advice is generated based on the below conditions and are handled as part of the process configuration.

     • If the customer response is Reject.
     • If the Manual Credit Decision stage response is Reject

     This advice is applicable for all Liability and Asset product of origination.

   • Interest rate details, along with margin breakdown

     Different margins (for e.g., Product Margin, Risk-Based Pricing Margin, Discretionary Margin, Bundle Margin and Relationship Pricing Margin) can be displayed and sent separately to host system

     The Interest Details data segment now shows all applicable margin/variance components when users click on Margin or Variance.

   • Account opening in a different dranch other than logged-in branch

     • Users can open accounts in a branch other than their logged-in branch, provided they have the necessary access permissions for the selected branch, and the logged-in branch supports the respective product.
     • The system ensures that the task flow of the logged-in branch is maintained while processing the account in the selected branch.
   • Addon card holder details now has the details of preferred ID details and uploading of supporting document feature
     • Ability to capture Addon Card holder details with the Preferred ID and other Supporting documents for Credit Card product is introduced. This is applicable for new as well existing customers.
   • Fetching of existing customer details – ID details when onboarded from oracle banking origination and reused as existing customer for a product new origination.

     Once the new customer is onboarded the customer information such as ID details, Consent & Preferences are stored. If the same customer is selected in the account opening application, then ability to fetch that stored customer information and auto populate the data in the relevant fields is supported.

     The party module exposes the services to OBO, which populates the previously captured customer data like Insider, PEP, ID Details, Service Member Details, Supporting Documents, Consents and Preferences, Relationships like Related to Insider, Service Members, Consent & Preference details during the new account origination.

   • Ability to generate the welcome letter by e-mail
     • Welcome letter is generated for all Liability Product of originations.
     • E-mail is sent to the preferred email address of the Primary Customer.
     • In case of Minor account holder, the email is sent to the preferred email address of the Guardian or Custodian
     • This advice or letter can be viewed under the advices section in the Application Enquiry widget from Dashboard
   • Enhancements in application document generated by the system
     • In an Advice, all the new fields of Application Form can be viewed.
     • As configured in the Business Process Definition screen, the application details appears as an advice for the respective stages.
     • The revised Advice is available for all Liability Products.
   • Enhancements in inquiry and view the application details
     • On the Dashboard in the Application Details widget, the user can view,
       • For multiple products – Application Number of all products, Status of each product application, Details of each stage (view mode).
       • For single product- Application Number of product, Status of application, Details of each stage (view mode).
     • Advices and Documents details.
     • Other application details.
     • Application search based on Unique ID of the applicants.
     • Details of joint holders, guarantors who are added as part of the application can be viewed.
     • All applications associated with the same application number are displayed on the same page with a tabular view (Multi-application origination)
   • Identification of an account as staff account

     For accounts where the primary applicant is marked for Staff in the Applicants data segment then the Staff Benefits Applicable flag is by default selected in the Account Details data segment. The user can edit the flag and the updated value is sent to the host system.

   • The application tracker enhancements
     • The Application Tracker screen is revamped for better and intuitive user experience. This includes enhanced view for applicants and product details, intuitive indicators, improved slider and realignment of fields
     • Ability to view the status of Party Module or Credit Facility Process Management (CFPM) tasks initiated for Oracle Banking Origination application is introduced.
     • The Customer 360 and Account 360 quick links for seamless access to servicing screens are provided.
     • Ability to perform below actions on the stages for quick access from the Application Tracker screens instead of Free Task or My task.
       • Acquire and Edit
       • Acquire
       • Edit
     • The Customer Clarification history section is enhanced.
   • Auto termination of incomplete applications

     Auto termination of the application if the applicant does not respond to the notice. System will terminate the application based on the configuration of ‘Incomplete Application Expiry Period (in days)’ parameter at Origination Preferences

9. Documents generation related enhancement
   • New configuration and setup to generate advices based on pre-defined events
     • The maintenance of the documents to generate and dispatch it using the set delivery mode in the Loan Origination workflow.
     • The maintenance of the documents provides the flexibility for a bank to configure the mapping of pre-defined events and map the advice to generate and send same to the configurable list of recipients such as Primary, Joint, Guarantor.
     • The maintenance feature allows the user to configure templates and conditionally trigger them based on specified rules, enabling the required documents to be sent to the intended recipients.
   • Ability to maintain the outbound document templates, events and rules
     • The new document templates for sending Notices and Disclosures are introduced in Personal Loan process. The documents such as Offer Letter, Counteroffer Letter, Application Form and so on.
     • The Events to Document Templates to a specific list of recipients and Mode of Delivery are maintained at configuration level.
     • The list of new facts and new rule conditions to generate the documents are introduced.
   • Ability to generate, dispatch and accept the outbound document for current account, savings account, term deposits and loans applications
     • The new stage Application Documents is introduced for generating, dispatching and accepting the outbound documents based on the configuration for loans product. The Document Generation, Document Acceptance and Review are the data segments configured for this stage.
     • The documents in the data segments appear as maintained in the Advice Maintenance screen setup. The bank can configure the documents for the Document Generation event.
     • The documents linked to a Document Generation event gets generated and dispatched as per the configurable and a specified mode of delivery such as Email, Post, Print and e-sign (Remote and In person).
     • The documents which are configured as Yes for Signature Acceptance Required appears in the Document Acceptance data segment. The banker must ensure that the signed documents from recipients are uploaded in this data segment.
   • Notices & disclosures for loans, current account, savings account and term deposit
     • New list of Advice added for Loans, Current Account, Savings Account, and Term Deposit process.
     • The advice can be configured as part of Advice Generation framework based on pre-defined list of events along with a condition (configured as a rule) if applicable. For Example, Offer Letter advice is sent as part of Offer Issue event.
10. Configuration related enhancements
    • Flexibility in business process configuration
      • Ability to Copy Business Process, allowing bankers to duplicate existing business processes, including stages, data segments, documents, and checklists.
      • For factory-shipped processes, only the Business Product code can be modified, while other details remain non-editable.
      • For non-factory shipped processes using the copy functionality, users can add, modify, delete, or reorder stages before saving the new process.
      • This enhancement streamlines process customization while maintaining control over factory-shipped configurations.
    • Ability to configure or define the applicability of solicitor and conditions & covenants for each of the lending products

      The Solicitor and Conditions &Covenants are applicable for lending product based on the configurations. In the Business Product Configuration screen, the Solicitor Applicable and Condition& Covenant Applicable toggles are introduced in the Business Product Preferences data segment.

      Based on the configurations, the Solicitor Details and Conditions & Covenants Details appears to capture in the More tab. This More tab appears on the header as common action. User can also capture the pre-disbursement and post disbursement conditions in the Condition & Covenant section.

    • Configuration of allowed parties (applicant role) in the preferences section of Business Products

      The Allowed Applicants Roles field is introduced to configure applicant roles that are allowed for the specific product in the Business Product Preferences data segment of Business Product screen for all products.

      The available options are:

      • Primary
      • Joint
      • Guarantor

      The customer role appears in the account opening workflow in the Customer Information data segment if you add customer. This customer role is displayed wherever the applicant details section appears.

    • Origination Preference configuration – Bank level configuration moved from properties table to a maintainable UI workflow
      Origination Preference Maintenance screen helps configure following parameters:

      • Generic Parameters like widget maintenance, Early KYC for minor, Minor age, Application expiry, Account Funding options, De-Dupe, address stability period, Quick assessment, enablement.
      • Offer related Parameters like validity and expiry
      • Integration Parameters like OCR, Collateral System integration, Address search, AI assistance with Questionnaire, DocuSign enablement.
    • Customer contribution applicability for personal loans is based on configuration
      • A parameter added at business product level to configure if customer contribution is applicable for certain personal loans.
      • If the customer contribution is set as applicable then the user can input the value in the Applied Loan Amount and the Customer Contribution fields. Based on this inputs the value of the Requested Loan Amount is auto calculated and appears in the fields as read only in the Product Details or Loan Details data segment.
      • If the customer contribution is set as not applicable then the Applied Loan Amount and Customer Contribution fields are not applicable and will not appear in the Product Details or Loan Details data segment for loan origination. The user can input the Requested Loan Amount value.
    • Ability to maintain questionnaire

      Ability to render below consents workflows as configured in Questionnaire Maintenance screen:

      • Composite Component Architecture (CCA) for dynamic rendering of questionnaire in Decision Service
      • Rendering of questionnaire as per setup in Decision Service
      • Refresh of questionnaire on every visit in Consent or Product page. If consent is captured, it will display the captured consents.
      • Addition or deletion of questionnaire
    • Ability to define add or modify or delete state codes which are mapped to a country

      The system provides the capability to define, add, modify, or delete state codes that are mapped to a specific country. This ensures accurate geographical data management and supports applications requiring state-level classification, such as address verification, taxation, and regional policies.

    • State code related enhancement
      • Ability to have the same state code for two different countries.
      • Ability to search for a state based on a country code.
    • Ability to capture the option to fund the account post account opening

      The Initial Funding workflow is enhanced to fund the new account after its creation. A new Fund Post Account Opening toggle is introduced in Business Product Preferences data segment of Business Product Maintenance screen to configure this new functionality. This toggle appears on the screen only if the Initial Funding toggle is selected. If only Initial Funding toggle is selected, then the regular workflow continues.

      Based on this configuration the existing Initial Funding fields are not applicable in the Product Details and Account Details data segments in respective Application Initiate and Application Entry stages. In this scenario the Initial Funding stage is handle procedurally while configuring the Business Process.

    • Product origination allowed based on customer category or customer type

      Ability to configure the allowed Customer Category or Customer Type in Business Product preferences for a given Product Origination. The validation is available for Individual and Small and Medium Business Type of Customers.

11. Regional frame-work requirements
    • Implementation of dynamic changeover of UI screens which are user enabled based on the entities (default / US) for rendering of UI elements based on region specific flows.

      Regionalization configuration helps to implement the dynamic changes on UI screens which user enables based on the entities such as Default or US, for rendering UI elements. On the selection of entity, the UI fields and workflow change based on the region-specific flows configured for the entity

      The following changes are implemented:

      • Entity - User is enabled to login with either US 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 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
      • Banking channel preferences section is not displayed for US Region
      • Account related information section is not displayed the Passbook option