1.1.2.8 Onboarding Enrichment - Financial Profile

The relationship managers can further enrich the customer’s financial information in the Financial Profile screen, by adding total income and net worth, income, and expense details, and details about the relationship with other banks.

This screen is to add or update asset and liability details.

Note:

The fields marked as Required are mandatory.

The following additional Data Segments can be captured in Financial Profile in Onboarding Enrichment – Financial Profile section.

Table 1-48 Data Segment - Description

Sl.No	Data Segment Name	Mandatory / Optional / Conditional	Description
1	Total Income and Net worth	Optional	Data Segment to capture Total Income and Net worth of the party.
2	Income & Expense	Optional	Data Segment to capture Income and Expense details of the party.
3	Other Relationship	Optional	Data Segment to capture Other Relationships of the party.
4	Beneficially Owned Company	Optional	Data Segment to capture Beneficially Owned Company relations of the party.

1. Click Next in theMembership/Association screen.
   The Financial Profile screen displays.

   Figure 1-51 Enrichment – Financial Profile

   
   

   
   Description of "Figure 1-51 Enrichment – Financial Profile"

   
   
2. On the Financial Profile screen, click and expand Assets & Liabilities segment.
   The Assets & Liabilities screen displays.

   Figure 1-52 Assets and Liabilities Details

   
   

   
   Description of "Figure 1-52 Assets and Liabilities Details"

   
   
3. On the Assets & Liabilities screen, you can perform the following actions. For more information, refer to the below table.

   Table 1-49 Common Actions for Assets and Liabilities

   Action	Description
   Add	ClickAdd button to add the assets and liabilities in the corresponding tiles. For more information, refer to the Figure 1-29 and Figure 1-31.
   View detail	Click View detail button in the corresponding tiles to change the chart view of asset and liabilities detail to the list view.
   Back	Click Back button in the corresponding tiles to change the list view of assets and liabilities detail to the chart view.

4. Click the configure icon in the corresponding tile.

   The following options are displayed in assets and liabilities details:

   • Add
   • Modify
   • Delete
5. Click and expand the Income & Expenses section.

   Figure 1-53 Financial Profile – Income and Expense

   
   

   
   Description of "Figure 1-53 Financial Profile – Income and Expense"

   
   
6. Click Add to add the income details of the customer.
   The Income screen displays.

   Figure 1-54 Income

   
   

   
   Description of "Figure 1-54 Income"

   
   
7. Click Add.
   The Add Income screen displays.

   Figure 1-55 Add Income

   
   

   
   Description of "Figure 1-55 Add Income"

   
   
8. On the Add Income screen, specify the fields.
   For more information on fields, refer to the field description table.

   Table 1-50 Add Income – Field Description

   Field	Description
   Income Type	Select income type from the drop-down values. The available options are: Pension Agriculture Salary Interest Amount Rentals Bonus Cash Gifts Business Total Income Investment Income Other Income Note: The list of values can be configured through Entity Maintenance.
   Frequency	Select frequency of income from the drop-down list. The available options are: Weekly Bi-Weekly Monthly Quarterly Yearly Daily Half Yearly Note: The list of values can be configured through Entity Maintenance.
   Currency	Click the search icon and select the currency from the list. Note: The list of values can be configured through Common Core Maintenance for Currency Code.
   Amount	Specify the value of income as per income details of the party.

9. Click Add to save the details.

   Note:

   You can also select the required item from the list, and click the Edit/Delete icon to modify/delete the added membership details.
10. Click icon to exit the Income window.
11. In the Expenses tile, click the configure icon to add the expense details of the customer.
    The Expenses window is displayed.

    Figure 1-56 Expense

    
    

    
    Description of "Figure 1-56 Expense"

    
    
12. Click Add.
    The Add Expenses screen is displayed.

    Figure 1-57 Add Expense

    
    

    
    Description of "Figure 1-57 Add Expense"

    
    
13. On the Add Expense screen, specify the fields.
    For more information on fields, refer to the field description table.

    Table 1-51 Add Expenses - Field Description

    Field	Description
    Expense Type	Select expense type from the drop-down list. The available options are: Medical Education Rentals Household Vehicle Fuel Other Expenses Loan Payments Utility Payments Insurance Payments Credit Card Payments Note: The list of values can be configured through Entity Maintenance.
    Frequency	Select the frequency from the drop-down list. The available options are: Weekly Bi-Weekly Monthly Quarterly Yearly Daily Half Yearly Note: The list of values can be configured through Entity Maintenance.
    Currency	Click the search icon and select the currency from the list. Note: The list of values can be configured through Common Core Maintenance for Currency Code.
    Expense Value	Specify the expense value.

    Note:

    Refer to the Oracle Banking Party Configurations User Guide for entity maintenance.
14. Click Add to save the details.

    Note:

    You can also select the required item from the list, and click the Edit/Delete to modify/delete the added membership details.
15. Click icon to exit the Income window.
16. Click and expand the Other Relationship section.
    The Other Relationship screen displays.

    Figure 1-58 Other Relationship

    
    

    
    Description of "Figure 1-58 Other Relationship"

    
    
17. Click Add to add details about the customer’s relationship with other banks.
    The Relationship with other financial institutions screen displays.

    Figure 1-59 Relationship with other financial institutions

    
    

    
    Description of "Figure 1-59 Relationship with other financial institutions"

    
    
18. On the Relationship with other financial institutions screen, specify the fields.
    For more information on fields, refer to the field description table.

    Table 1-52 Relationship with other financial institutions - Field Description

    Field	Description
    Institution Name	Specify the name of the institution where the customer is a member.
    Relationship Type	Select the relationship type from the drop-down list. The available options are: Loan Deposit CASA Note: The list of values can be configured through Entity Maintenance.
    Relationship Worth	Select a currency from the drop-down values, and specify the relationship worth amount.
    Relationship worth Currency	Relationship worth currency with other financial relationship of party. Select from the available list of values. Note: List of values can be configured through Common Core Maintenance for Currency Code.
    Relationship Since	Click Calendar icon and select the start date of the customer’s relationship.

19. Click Add to save the details.

    The system adds and lists the relationship details in the Other relationship section

    Figure 1-60 Other Relationship List

    
    

    
    Description of "Figure 1-60 Other Relationship List"

    
    

    Note:

    You can also select the required item from list, and click the edit/delete icon to modify/delete the other relationship details.

20. Click and expand Beneficially Owned Company segment.
    The Beneficially Owned Company screen displays.

    Figure 1-61 Beneficially Owned Company

    
    

    
    Description of "Figure 1-61 Beneficially Owned Company"

    
    
21. Click + to add details about beneficially owned company.
    The Beneficially Owned Company pop-up screen is displayed.

    Figure 1-62 Beneficially Owned Company

    
    

    
    Description of "Figure 1-62 Beneficially Owned Company"

    
    
22. On the Beneficially Owned Company pop-up screen, specify the details. For more information, refer to the field description table.

    Table 1-53 Beneficially Owned Company - Field Description

    Field	Description
    Company Name	Specify company name as per beneficially owned company details of the party.
    Location	Specify location of the beneficially owned company of the party.
    Percentage Holding	Percentage holding as per beneficially owned company details of the party.
    Annual Income Currency	Select the currency of incomer as per income details of the party from the list of values.
    Annual Income Amount	Specify annual income of the beneficially owned company of the party.
    Line of Business	Specify line of business of the beneficially owned company of the party.

    Note:

    Refer to the Oracle Banking Party Configurations User Guide for entity maintenance.
    The system adds and lists the beneficially owned company details in the section.

    Note:

    You can also select the required item from list and click edit/delete icon to modify/delete the beneficially owned company details.
23. Click Next to move to the Comments segment.