1 SMB Onboarding

SMB 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.

Topics

• Overview of Small and Medium Business Onboarding
  SMB Onboarding is the process of collecting, evaluating, and authorizing customer information for secured banking operations.
• Onboarding Initiation
  In the Initiation stage, the RM can capture brief information about the Small and Medium Business customer to be onboarded using Oracle Banking Enterprise Party Management.
• Onboarding Enrichment
  In the Enrichment stage, the relationship manager can capture detailed information about the SMB customer to be added in the Oracle Banking Enterprise Party Management.
• KYC Check
  KYC check for the SMB customer is populated based on the product selected by that customer. The banks can directly perform the KYC check by themselves or reach external agencies for the KYC information.
• Recommendation
  In this stage, the final Recommendation user reviews the customer details and moves the task to Approval stage if the details are appropriate.
• Approval
  In the Approval stage, the head of the division can view the customer information and decide to approve or reject the task based on comments from the Reviewer.
• Amendment
  In the Amendment stage, the relationship manager can amend the information or can add additional information about an SMB customer using Oracle Banking Enterprise Party Management.
• Duplication Check (De-dupe Check)
  Duplication check (De-dupe Check) screen is to check for the duplication in the party.
• Straight Through Processing for Onboarding Requests Received from Channels
  Configurations are available for the onboarding requests received from channels to allow straight-through processing of SMB onboarding and handoff to the core system without waiting for any manual intervention.