1.4.4 Stakeholders

This topic provides the systematic instruction to add the Stakeholders details.

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

   Figure 1-26 Stakeholder

   
   

   
   Description of "Figure 1-26 Stakeholder"

   
   

   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:

   • User should have required access to add a party within a customer access group as stakeholder. For more details, refer to the 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 the Oracle Banking Party Configuration User Guide.
2. Select the corresponding Stakeholder and click + icon to add the desired stakeholder.
   The Add New Owners screen displays.

   Figure 1-27 Add New Owner

   
   

   
   Description of "Figure 1-27 Add New Owner"

   
   

   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.
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 1-28 Search Party Individual

   
   

   
   Description of "Figure 1-28 Search Party Individual"

   
   

   The Search Party - Non Individual screen displays.

   Figure 1-29 Search Party - Non Individual

   
   

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

   
   
4. If the related party is new to the Bank, click Next without entering CIF/Party Id.
   The Add New Owner screen is displayed to capture details for the new relationship.

   Note:

   To create a new party the screen appears based on the selected relationship type. The Household relationship type is elaborated below.

   Figure 1-30 Add New Owner

   
   

   
   Description of "Figure 1-30 Add New Owner"

   
   
5. Specify the details of Add New Owner for new stakeholder.
   For more information on fields, refer to the field description table.

   Table 1-16 Add New Owners – Field Description

   Field	Description
   Title	The formal title or honorific prefix assigned to the party (e.g., Mr., Mrs.). Entity Code: TLE
   Salutation	The greeting or form of address used for the party in communication. Entity Code: SAL
   First Name	The given name of the party as per official records.
   Middle Name	The additional given name of the party, if applicable.
   Last Name	The surname or family name of the party.
   Suffix	The suffix used in the party’s name, such as Jr., Sr., III, etc. Entity Code: SUF
   Short Name	A shortened or commonly used version of the party’s full name.
   Maiden Name	The last name of the party before marriage, applicable to individuals who have changed their surname.
   Name In Local Language	The name of the party written in their native or regional language.
   Date of Birth	The official birth date of the party. Date of Birth cannot be a future date. Note: Based on the date of birth and minor age configuration, the party will be identified as a major customer or minor customer.
   Minor	A flag indicating whether the party is legally a minor.
   National ID	The Social Security Number (SSN) for U.S. citizens or the equivalent national identification number for other countries.
   Occupation	The job title or primary occupation of the party. Entity Code: OCC
   Staff	A flag to indicate whether the party is an employee of the organization.
   Gender	The gender identity of the party (e.g., Male, Female). Entity Code: GTY
   Marital Status	The marital status of the party, such as Single, Married, Divorced. Entity Code: MST
   Customer Category	The classification of the party based on predefined categories. Common Core Maintenance: cmc customer categories.
   Customer Segment	The business or customer segment to which the party belongs (e.g. High Net Worth). Entity Code: SEG
   Customer Access Group	The designated user access group(s) for the party. Common Core Maintenance: cmc customer access group Note: User should have required access to onboarding a party within a customer access group. For more details, refer to the Oracle Banking Party Configurations User Guide.
   Profession	The professional field or industry in which the party is employed. Entity Code: PFS
   Relationship Manager ID	The unique identifier of the relationship manager assigned to the party. Common Core Maintenance: cmc user maintenane
   Photo	A reference image or icon used to highlight significant dates related to the party.
   Birth Country	The country where the party was born as per official records. Common Core Maintenance: cmc country maintenance
   Nationality	The citizenship or nationality of the party as per legal documentation. Common Core Maintenance: cmc country maintenance
   Citizenship By	The process through which the party obtained citizenship (e.g., Birth). Entity Code: CBT
   KYC Verified	A flag indicating whether KYC is verified for the party. Note: KYC Status as per standalone KYC record supersedes and overwrite Is KYC verified. If KYC Status as per Standalone KYC record is available KYC Verified cannot be setup manually.
   Resident Status	The legal residency status of the party, such as Resident, Non-Resident, or Permanent Resident. Entity Code: RES
   Country of Residence	The country where the party currently resides. Common Core Maintenance: cmc country maintenance
   Preferred Language	The language the party prefers for communication. Common Core Maintenance: cmc language maintenance
   Preferred Currency	The currency the party prefers for transactions. Common Core Maintenance: cmc currency maintenance
   Risk Level	The risk assessment level assigned to the party based on financial or compliance factors (e.g., Low, Medium, High). Entity Code: RSK
   Purpose	The reason for onboarding the party, such as Personal Banking, Business Banking, or Investment Services. Entity Code: DPI
   Facebook	The URL of the party’s Facebook profile.
   Twitter	The URL of the party’s Twitter (X) profile.
   Instagram	The URL of the party’s Instagram profile.
   LinkedIn	The URL of the party’s LinkedIn profile.
   Blog	The URL of the party’s personal or professional blog.
   Tumblr	The username or profile ID of the party on Tumblr.
   Origin Code	A system-generated or predefined code indicating the origin of the party’s relationship with the organization. Entity Code: OGC
   Sub-Origin Code	A more specific classification of the origin code providing additional context. Entity Code: SO, SA, MCB, CMY Note: Sub-Origin Code will only be displayed, if Origin Code is selected. Origin Code and Sub-Origin Code are co-mandatory fields.
   Duplicate Merge	A flag indicating if the party has potential duplicate records that can be merged.
   Referral Source	The source through which the party was referred, such as an existing customer, agent, or marketing campaign. Entity Code: REF
   Date Marked for Deletion	The date when the party’s record was marked for deletion.
   Customer Status	The current status of the party in the system (e.g., Active, Inactive). Entity Code: CST
   Membership Start Date	The date the party became a member of financial institution. Note: Membership start date cannot be a future date or less than party onboarding date.
   Sponsorship	The entity or individual who has sponsored or referred the customer. Entity Code: SPR
   Duplicate Override	A flag indicating whether the user has manually overridden a duplicate party check.

   Note:

   • The list of drop-down values is configurable through Entity Maintenance. For details on Entity Code Maintenance and the available values corresponding to each Entity Code, refer to the Oracle Banking Party Configurations User Guide.
   • For details on Common Core Maintenance, refer to the Common Core User Guide.
6. Click and expand the ID Details section.
   The ID Details screen is displayed.

   Figure 1-31 ID Details

   
   

   
   Description of "Figure 1-31 ID Details"

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

   Figure 1-32 Stakeholder

   
   

   
   Description of "Figure 1-32 Stakeholder"

   
   

   Note:

   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 OK to save the details.