1.2.1 Functional Features

This topic provides the information about the various functional features added in this release.

Inclusion of Reject option in the authorization framework

A feature has been provided in the authorization framework to allow checker to “Reject” a record submitted for approval. An option is also provided to enforce viewing the record before the checker can either approve/reject a record. The rejected record is then available back to the maker for amendment and resubmission.

An option is also provided to input maker and checker remarks, and the same can be viewed under the Audit screen.

Integration with Oracle Banking Electronic Data Exchange for supporting H2H (Host -to-Host) File Upload for Virtual Account Closure

Oracle Banking Virtual Account management is now integrated with Oracle Banking Electronic Data Exchange system for bulk virtual account closure through file upload via Host to Host. This will enable corporates to close bulk virtual accounts through their ERP system via H2H channel.

Linking of a Product Template after a customer is onboarded for Virtual Account Facility

A feature has been provided to enable the banks to link a new product template/s to a customer after the customer is onboarded for virtual account facility. This will enable the banks to offer new products to existing customers.