1.5.3 Add Stakeholders

This topic describes the systematic instruction to add the details about the stakeholder such as authorized signatories, management team, etc. of the business.

Stakeholders' detail is necessary for the bank to ascertain the credibility of the business. Stakeholders to a customer can be either of the following:

• An existing customer of the Bank
• An existing party that is not a customer but is a stakeholder to another customer of the bank
• A new party, which is neither a customer nor an existing party (stakeholder)

The following stakeholder types are supported for the corporate customer:

• Shareholders
• Customers
• Owners
• Authorized Signatories – Signature can be uploaded for Authorized Signatories.
• Guarantors
• Suppliers
• Bankers
• Insurers
• Buyers
• Management Team
• Sponsors
• Directors
• Contractors
• Auditors
• Debtors
• Creditors
• Advisor

Note:

• Users should have the required access to add a party within a customer access group as a stakeholder. For more details, refer to Oracle Banking Party Configuration User Guide.
• User should have required Personal Identifiable Information (PII) access to add individual stakeholders if PII fields are configured. For more details, refer Oracle Banking Party Configuration User Guide.

To update the stakeholder details:

1. On the Party Details screen, click on the Stakeholders section.
   The Demographic Details - Stakeholders Details screen displays.

   Figure 1-27 Stakeholder Details

   
   

   
   Description of "Figure 1-27 Stakeholder Details"

   
   

   Stakeholders Detail is necessary for the bank to ascertain the credibility of the business. Stakeholders to a customer can be either of the following:

   • An existing customer of the Bank.
   • An existing party that is not a customer but is a stakeholder to another customer of the bank.
   • A new party, which is neither a customer nor an existing party (stakeholder).

   The Following Stakeholder types are supported for the FI customer:

   • Shareholders
   • Customers
   • Owners
   • Authorized Signatories – Signature can be uploaded for Authorized Signatories.
   • Guarantors
   • Suppliers
   • Bankers
   • Insurers
   • Buyers
   • Management Team
   • Sponsors
   • Directors
   • Contractors
   • Auditors
   • Debtors
   • Creditors
   • Advisor

   Note:

   • Users should have the required access to add a party within a customer access group as a stakeholder. For more details, refer to Oracle Banking Party Configuration User Guide.
   • User should have required Personal Identifiable Information (PII) access to add individual stakeholders, if PII fields are configured. For more details, refer to Oracle Banking Party Configuration User Guide.
2. Select the corresponding Stakeholder and click the + icon to add the desired stakeholder.
   The Add New Owners screen displays.

   Figure 1-28 Add New Owners

   
   

   
   Description of "Figure 1-28 Add New Owners"

   
   
3. On the Add New Owners screen.
   • Specify the existing CIF if the stakeholder is an existing customer.
   • Specify the existing Party Id if the stakeholder is an existing party but not a customer (or) select from the list of the recently added stakeholders to the same application.

   Note:

   If CIF/Party Id is not known, click the search icon to launch the Search Party screen and select from the list of values.

   The Search Party - Individual screen displays.

   Figure 1-29 Search Party – Individual

   
   

   
   Description of "Figure 1-29 Search Party – Individual"

   
   

   The Search Party - Non Individual screen displays.

   Figure 1-30 Search Party – Non-Individual

   
   

   
   Description of "Figure 1-30 Search Party – Non-Individual"

   
   
4. If the Stakeholder is New to the bank, perform the following steps:
   1. Click Next without entering CIF/Party Id.
      The Add New Owners screen is displayed to capture details for the new relationship.

      Figure 1-31 Add New Owners

      
      

      
      Description of "Figure 1-31 Add New Owners"

      
      
   2. On the Add New Owners segment, specify the fields. For more information on fields, refer to the field description table.

      Note:

      The fields marked as Required are mandatory.

      Table 1-14 Add New Owners – Field Description

      Field	Description
      Stakeholder Type	Select the stakeholder type from the drop-down list.
      Basic Info & Citizenship	Specify the fields under this segment.
      Title	Select the title from the drop-down list.
      First Name	Specify the first name of the new stakeholder.
      Middle Name	Specify the middle name of the new stakeholder.
      Last Name	Specify the last name of the new stakeholder.
      Short Name	Specify the short name of the new stakeholder.
      Maiden Name	Specify the maiden name of the new stakeholder.
      Date of Birth	Select the date of birth of the new stakeholder.
      Gender	Select the gender from the drop-down list.
      Marital Status	Select the marital status from the drop-down list.
      Customer Category	Click the Search icon and select the customer category from the list.
      Customer Segment	Select the customer segment from the drop-down list.
      Customer Access Group	Click the Search icon and select the customer access group for the party. Note: The user should have required access to onboarding a party within a customer access group. For more details, refer Oracle Banking Party Configurations User Guide.
      ID Type	Select the ID type from the drop-down list.
      Unique ID	Specify the unique ID of the new stakeholder.
      Upload Photo	Upload the photo of the new stakeholder.
      Birth Country	Click the Search icon and select the birth country from the list.
      Nationality	Click the Search icon and select the nationality of the stakeholder from the list.
      Citizenship By	Select the Citizenship By from the drop-down list.
      Residential Status	Select the residential status from the drop-down list.
      Country of Residence	Click the Search icon and select the country from the list.
      Preferred Language	Select the preferred language from the drop-down list.
      Preferred Currency	Click the Search icon and select a preferred currency from the list.
      Address	Specify the fields under this segment.
      Address Type	Select the address type from the drop-down list.
      Building Name	Specify the building name of the new stakeholder.
      Street Name	Specify the street name of the new stakeholder.
      Locality	Specify the locality of the new stakeholder.
      City	Specify the city of the new stakeholder.
      State	Specify the state of the new stakeholder.
      Country Code	Click the Search icon and select country code from the list.
      Zip Code	Specify the zip code of the address.
      Mobile Number	Specify the mobile number of the new stakeholder.
      Email ID	Specify the email Id of the new stakeholder.
      Contact Number	Specify the contact number of the new stakeholder.
      Narrative	Specify the description for the new stakeholder.

   3. Click Next to capture the KYC details for the new relationship.
      The Add New Owners - KYC screen displays.

      Figure 1-32 Add New Owners - KYC

      
      

      
      Description of "Figure 1-32 Add New Owners - KYC"

      
      
   4. On the Add New Owners - KYC screen, update the KYC Details.

      Note:

      This step is optional.
5. Click Next to add relationship-specific attributes for the stakeholder.
   The Add New Owner - Relationship Specific screen displays.

   Figure 1-33 Add New Owners – Capture relationship-specific attribute

   
   

   
   Description of "Figure 1-33 Add New Owners – Capture relationship-specific attribute"

   
   
6. On the Add New Owner - Relationship Specific screen, specify the fields. For more information on fields, refer to the field description table.

   Note:

   The fields marked as Required are mandatory.

   Table 1-15 Add New Owners – Relationship Specific - Field Description

   Field	Description
   Ownership Percentage	Specify the ownership percentage value.
   Associated Since	Specify the date from which the stakeholder is associated with the bank.

7. Click Submit to linked to the customer being onboarded.
   The Stakeholder Details screen displays.

   Note:

   f the stakeholder is an existing customer or an existing Party, then the linkage is based on the CIF/Party Id. In case a new stakeholder is being added, the system will generate a Party Id for the newly added stakeholder. This Party Id is used to establish a link between the new customer and the stakeholder.
8. Click OK to save the details.