1.2.2 Onboarding Initiation - Stakeholder Details

This topic provides the details about the stakeholder such as owners, authorized signatories, guarantors, and suppliers of the business in the Stakeholder Details screen.

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)

Note:

The fields marked as Required are mandatory.

1. Click Next in theOnboarding Initiation - Basic Details screen.
   The Onboarding Initiation - Stakeholder Details screen displays.

   Figure 1-15 Initiation – Stakeholder Details

   
   

   
   Description of "Figure 1-15 Initiation – Stakeholder Details"

   
   
2. Click the icon on the top of the Stakeholder Details screen, select the corresponding stakeholder button.
   The Add New Owners screen is displayed.

   Figure 1-16 Add New Owners

   
   

   
   Description of "Figure 1-16 Add New Owners"

   
   
3. If the stakeholder has an existing relationship with the bank, perform one of the following actions 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.
   • Select from the list of the recently added stakeholders to the same application.

   Note:

   If the CIF/Party Id is not known, click the search icon to launch the Search Party screen. Select CIF/Party Id from the list of values based on the search criteria.

   Figure 1-17 Search Party - Individual

   
   

   
   Description of "Figure 1-17 Search Party - Individual"

   
   

   Figure 1-18 Search - Non Individual

   
   

   
   Description of "Figure 1-18 Search - Non Individual"

   
   
4. If the stakeholder is new to the bank, perform the following steps:
   1. Click Next without entering CIF/Party Id.

      Note:

      Based on the selected relationship type, a respected screen is displayed to create a new party. Relationship as a Household is elaborated below.

      The Add New Authorized Signatories screen is displayed to capture details for the new relationship.

      Figure 1-19 Add New Authorized Signatories

      
      

      
      Description of "Figure 1-19 Add New Authorized Signatories"

      
      
   2. On the Add New Owners segment, specify the fields. For more information on fields, refer to the field description table. New Authorized Signatories as an Individual Party (Non-Customer) is elaborated below.

      Table 1-14 Add New Owners – Field Description

      Field	Description
      Stakeholder Type	Select the stakeholder type from the drop-down values.
      Basic Info & Citizenship	Specify the fields under this segment.
      Title	Select the title from the drop-down values.
      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	Displays the short name of the stakeholder.
      Maiden Name	Specify the maiden name of the new stakeholder.
      Name in Local Language	Specify the name in local language of the new stakeholder.
      Date of Birth	Select the date of birth of the new stakeholder.
      Minor	Enable the toggle if the party type is minor.
      Gender	Select the gender from the drop-down values.
      Marital Status	Select the marital status from the drop-down values.
      Profession	Select the profession from the drop-downs values.
      Occupation	Select the occupation type from the drop-down list. The available options are: Own Business Employed
      Staff	Enable this toggle button if the onboarded party is a staff of the bank.
      Country of Residence	Click search icon and select the country from the list of values.
      Resident Status	Select the residential status from the drop-down values. The available options are: Resident Non Resident
      Birth Place	Specify the birth place of the party.
      Birth Country	Click Search icon, and select country code from the list of values.
      Nationality	Click Search icon and select the nationality of the stakeholder from the list of values.
      Citizenship by	Select the Citizenship by the drop-down values. The available options are: Birth Acquire Others Residence
      Upload Photo	Upload the photo of the new stakeholder.
      Customer Category	Click the Search icon and select the customer category from the list of values.
      Customer Segment	Select the customer segment from the drop-down values.
      Customer Access Group	Click search icon and select the customer access group for the party. Note: User should have required access to onboarding a party within a customer access group. For more details, refer Oracle Banking Party Configuration User Guide.
      Risk Level	Select the risk level from the drop-down values. The available options are: Level1 Level2 Level3
      Preferred Language	Click Search icon, and select the language code from the list of values.
      Preferred Currency	Click Search icon, and select the currency code from the list of values.
      Purpose	Select the purpose from the drop-down list.
      Relationship Manager ID	Click Search icon, and select the relationship manager ID.

   3. Click and expand the ID Details segment and click + icon to add ID details.

      Figure 1-20 ID Details

      
      

      
      Description of "Figure 1-20 ID Details"

      
      
      The Add ID Details pop-up screen is displayed.

      Specify the details in the Add ID Details pop-up screen. For more information on fields, refer to the field description table.

      Table 1-15 ID Details - Field Description

      Field	Description
      ID Type	Select type of identification from the drop-down list. The available options are: Driving License Passport
      ID Status	Select status of identification from drop-down list. The available options are: Validation Pending Available Applied For
      Unique ID	Specify unique ID number as per the ID type.
      Place of Issue	Specify place of issue of ID.
      Valid From	Specify valid from date of ID.
      Valid Till	Specify validity end date of ID.
      Remarks	Specify remarks for ID.
      Preferred	Select, if ID type is preferred.

   4. Click and expand the Address segment and click + icon to add ID details.
      The Add Address screen is displayed.

      For more information on the screen and fields, refer to the Add Address in the Basic Initiation segment.

   5. Click Next.
      The Add New Owners screen is displayed to capture the KYC details for the new relationship.

      Figure 1-21 Add New Owner

      
      

      
      Description of "Figure 1-21 Add New Owner "

      
      
   6. On the Add New Owners screen, update the KYC Details.

      Note:

      This step is optional.
5. Click Next.
   The Add New Owners screen is displayed to add relationship-specific attributes.

   Figure 1-22 Add New Owners – Capture relationship specific attribute

   
   

   
   Description of "Figure 1-22 Add New Owners – Capture relationship specific attribute"

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

   Table 1-16 Relationship Specific Details - Field Description

   Field	Description
   Ownership Percentage	Specify the percentage of the ownership for the new owner.
   Associated Since	Click the calendar icon and select the date from when the customer is associated with the bank.

7. Click Submit.
   The stakeholder is linked to the customer being onboarded, and the newly added stakeholder is displayed on the Stakeholder Details screen.

   Figure 1-23 New Stakeholder Added

   
   

   
   Description of "Figure 1-23 New Stakeholder Added"

   
   

   If 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 stakeholder.

8. Click Next to move to the Financial Information screen. For information on the Financial Information screen, refer to Onboarding Initiation - Financial Information.