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## 1.2.1 Functional Features

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

Restriction of Number of Virtual Accounts

A feature has been provided which allows users to define the maximum number of virtual accounts that can be created for a specific customer. Limits can also be configured at the product level. These restrictions are validated during virtual account creation

Maintaining Hybrid address at Entity and Account level

An additional address type is now available at an Entity and Account level to capture the address in hybrid format to facilitate sanctions processing and to comply with regulatory requirements. File uploads for Virtual Entity and Virtual Account has been enhanced to capture address in hybrid format.

Renaming of Balance Availability Options

The balance availability options during account creation has been renamed to below:

- Own - Applicable when Real Account Linkage is "Account Level". This indicates the available balance of the virtual account which will be own balance and any internal limits if available.
- Own + Child - Applicable when Real Account Linkage is "Structure Level". This indicates the available balance of the virtual account including contributions from child accounts and internal limits if available.
- Total Pool - Applicable when Real Account Linkage is "Structure Level". This indicates the virtual account can access the total pool balance regardless of its own balance or any contributions from child accounts.
- Own + Child + Fixed Amount from Pool - Applicable when Real Account Linkage is "Structure Level". This indicates the available balance of the virtual account including contributions from child accounts and a specified amount from the total pool balance.

  Additionally, a new validation has been introduced to ensure that the balance availability option for a header account within a structure is restricted to "Total Pool."

Charges Enhancements - Virtual-Account-Level Charging and Retry of Failed Charge Collections

- Banks can now levy and collect charges at the virtual account level. In this scenario, charges are collected from the virtual account and the linked real account. The following charge types are supported at the virtual account level:
  - Virtual account maintenance charges
  - Charges based on the number of transactions
  - Tax on charges
- Automatic retry of failed charge postings is now supported through a configurable parameter.
- Additional options are provided to reverse a previously collected charge, waive a specific charge, and retry failed charge collection on an ad hoc basis.
- Charge posting has been enhanced to hand off charges and any associated VAT (if configured) to the DDA system as a single transaction. If any posting fails, both the charge and VAT postings are rolled back.

Audit Details for Records Created via File Uploads

Audit stamping has been enhanced to capture and store the actual maker and checker from the uploaded file at the individual record level for records created through file uploads in Oracle Banking Virtual Account Management.

Parent topic: Release Enhancements