Introduction to Customer Infrastructure

This module supports the creation of individual and corporate customers by capturing the mandatory regulatory fields as per the People's Bank of China (PBOC) regulations.

Banks can capture the information requirements which are specific and are required to be maintained by Chinese banks and raise the required validation during the creation and maintenance of the customer record.

Maintaining statutory and legal information about parties with whom a bank or financial institution does business with, is one of the critical aspects of the banking and financial services industry. During the course of its business, banks and financial institutions interact with a variety of persons, firms or companies and some common types of such parties are:

• Customers: Any party, individual or corporate that has a relationship with the bank for depositing their money or borrowing money.
• Prospects: Any party with a potential relationship with a bank or financial institution, which they record, and wish to follow up on, for future business.
• Agents: Parties authorised to act on behalf of customers.
• Guarantors: Parties who stand guarantee for the financial obligations and performance for bank customers.

This document deals with the changes to accommodate the China business requirements of gathering and storing legal, regulatory and other information to register and report customer and prospects.

The following items have been introduced as part of this functionality:

• The CUSTOMER,CNCUST.INDIVIDUAL version has been created to define individual customers.

• The CUSTOMER,CNCUST.CORPORATE version has been created to define corporate customers.

Click here to understand the terms and abbreviations used in this module.