1 Financial Institution Customer Onboarding

This topic describes about the Financial Institution Customer Onboarding.

This topic contains the following subtopics:

• Overview
  Financial Institution Customer Onboarding is an umbrella term that is often used to describe the entire process that users go through when they start their journey as a customer of a banking product or service.
• Onboarding Initiation
  This topic provides the systematic instruction to capture the basic demographic information about the Financial Institution customer to be onboarded using Oracle Banking Enterprise Party Management.
• KYC
  This topic provides the systematic instruction to capture the KYC information about the Financial Institution customer to be onboarded using Oracle Banking Enterprise Party Management.
• Onboarding Enrichment
  This topic describes about the relationship manager can capture detailed information about the financial institution customer to be added in the Oracle Banking Enterprise Party Management.
• Review
  In the Review stage, the final reviewer reviews the customer details and moves the task to the Approval stage if the details are appropriate. If the details are inappropriate, the reviewer can send the task back to the previous stage.
• Recommendation
  In this stage, the Recommending user reviews the progress done so far and provides recommendations for each of the data segments with a decision as approve/reject.
• Approval
  In this stage, the approver reviews the activity done across all the stages and provides final signoff to approve the customer onboarding.
• Amendment
  In this stage, the Relationship Manager can amend the information or can add additional information about a Financial Institution customer using Oracle Banking Enterprise Party Management.