Explore our Corporate Banking Onboarding Process, a comprehensive workflow including client risk assessment, approval stages, and seamless online setup.
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Gather business financial statements and tax returns from the client
2
Review client's business details
3
Conduct initial financial analysis
4
Approval: Initial Financial Analysis
5
Prepare credit proposal
6
Assess clients risk profile
7
Review client's credit history
8
Approval: Credit History
9
Determine appropriate bank products/services
10
Prepare and send the onboarding document package to client
11
Receive signed document package from client
12
Update client's profile in internal banking systems
13
Set up customers online banking profile
14
Approval: Online Banking Profile
15
Inform client about the account set-up details
16
Completion of onboarding process
17
Verification of clients identity
18
Approval: Verification Of Client's Identity
19
Communicate bank policies and process to the client
20
Coordinate with other departments to ensure smooth onboarding
Gather business financial statements and tax returns from the client
This task involves collecting the financial statements and tax returns from the client's business. These documents are essential for assessing the financial health and stability of the business. The desired result is to gather accurate and up-to-date financial information to proceed with the onboarding process. In order to successfully complete this task, you will need to establish clear communication with the client and provide them with clear instructions on what documents are required. Potential challenges may include delays in receiving the required documents or incomplete/inaccurate information. To overcome these challenges, it is important to maintain regular communication with the client, clarify any doubts they may have, and provide assistance if needed. The required resources for this task include access to the client's financial records or the ability to request these documents from the client.
Review client's business details
In this task, you will review the client's business details to gain a comprehensive understanding of their operations, industry, and market position. By reviewing these details, you will be able to assess the client's suitability for the services offered by the bank. The desired result is to have a clear understanding of the client's business and their specific requirements from the bank. To successfully complete this task, you will need to analyze the information provided by the client, conduct any necessary research, and ask clarifying questions if needed. Potential challenges may include incomplete or inconsistent business details. To overcome these challenges, it is crucial to maintain open communication with the client and seek additional information or clarification when necessary.
Conduct initial financial analysis
This task involves conducting an initial financial analysis of the client's business based on the financial statements and tax returns provided. The purpose of this analysis is to assess the financial health, profitability, and liquidity of the business. The desired result is to identify any potential risks or concerns that need to be addressed during the onboarding process. To successfully complete this task, you will need to have a good understanding of financial analysis techniques and tools. Potential challenges may include complex financial statements or inconsistent data. To overcome these challenges, it is important to leverage the expertise of the finance team and seek their assistance if needed.
Approval: Initial Financial Analysis
Will be submitted for approval:
Conduct initial financial analysis
Will be submitted
Prepare credit proposal
In this task, you will prepare a credit proposal for the client based on the financial analysis conducted. The credit proposal includes the recommended credit amount, terms, and conditions for the client. The desired result is to provide the client with a comprehensive and tailored credit proposal that meets their financing needs. To successfully complete this task, you will need to have a good understanding of credit analysis and lending guidelines. Potential challenges may include complex financing requirements or conflicting client preferences. To overcome these challenges, it is important to maintain open communication with the client and seek feedback on the proposed credit terms.
Assess clients risk profile
This task involves assessing the client's risk profile to determine their creditworthiness and evaluate the level of risk associated with providing them with bank products/services. By assessing the client's risk profile, you will be able to determine the appropriate risk mitigation measures and ensure that the bank's interests are protected. The desired result is to have a clear understanding of the client's risk profile and to make informed decisions regarding their creditworthiness. To successfully complete this task, you will need to analyze the client's financial information, credit history, and any additional risk indicators. Potential challenges may include incomplete or inconsistent information. To overcome these challenges, it is important to maintain open communication with the client and seek additional information or clarification when necessary.
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Low risk
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Medium risk
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High risk
Review client's credit history
In this task, you will review the client's credit history to evaluate their past repayment behavior and determine their creditworthiness. By reviewing the client's credit history, you will be able to assess the level of risk associated with providing them with bank products/services. The desired result is to have a clear understanding of the client's credit history and to make informed decisions regarding their creditworthiness. To successfully complete this task, you will need to access the client's credit reports and analyze their repayment history, outstanding debts, and any credit defaults or delinquencies. Potential challenges may include incomplete or inaccurate credit information. To overcome these challenges, it is important to validate the information obtained from credit reporting agencies and seek additional information from the client if needed.
Approval: Credit History
Will be submitted for approval:
Review client's credit history
Will be submitted
Determine appropriate bank products/services
This task involves determining the appropriate bank products/services for the client based on their business details, financial analysis, risk profile, and credit history. The purpose of this task is to recommend the most suitable products/services that meet the client's financing and banking needs. The desired result is to provide the client with a tailored banking solution that aligns with their requirements. To successfully complete this task, you will need to have a good understanding of the bank's product/service offerings and their match with the client's needs. Potential challenges may include conflicting client preferences or limited product/service availability. To overcome these challenges, it is important to maintain open communication with the client, present alternative options if needed, and seek feedback on the recommended products/services.
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Business loan
2
Savings account
3
Credit card
4
Trade finance
5
Cash management
Prepare and send the onboarding document package to client
In this task, you will prepare the onboarding document package for the client, which includes the necessary forms, agreements, and disclosures. The purpose of this package is to provide the client with the required documentation to complete the onboarding process. The desired result is to send a comprehensive and well-organized document package that guides the client through the onboarding process. To successfully complete this task, you will need access to the bank's standard onboarding documents and the ability to customize them based on the client's specific requirements. Potential challenges may include missing or outdated documents. To overcome these challenges, it is important to regularly review and update the onboarding document package and seek feedback from the legal and compliance teams.
Receive signed document package from client
This task involves receiving the signed document package from the client, indicating their agreement to the terms and conditions outlined in the onboarding documents. The desired result is to obtain the client's signature and acceptance of the onboarding documents. To successfully complete this task, you will need to have a process in place to track the receipt of signed documents and ensure that they are securely stored. Potential challenges may include delays in receiving the signed documents or incomplete signatures. To overcome these challenges, it is important to maintain regular communication with the client, remind them of the importance of timely submission, and provide assistance if needed.
Update client's profile in internal banking systems
In this task, you will update the client's profile in the internal banking systems to reflect their account opening and onboarding status. The purpose of this task is to ensure that the client's information is accurately recorded and accessible to the relevant teams within the bank. The desired result is to have the client's profile updated in a timely manner to facilitate seamless account management and servicing. To successfully complete this task, you will need access to the internal banking systems and a good understanding of the required updates. Potential challenges may include system limitations or data entry errors. To overcome these challenges, it is important to have a robust data validation process in place and seek the assistance of the IT team if needed.
Set up customers online banking profile
This task involves setting up the client's online banking profile, which enables them to access and manage their accounts and banking services online. The purpose of this task is to provide the client with convenient and secure access to their banking facilities. The desired result is to successfully set up the client's online banking profile and provide them with the necessary login credentials. To successfully complete this task, you will need access to the bank's online banking platform and a good understanding of the setup process. Potential challenges may include technical issues or user authentication problems. To overcome these challenges, it is important to seek the assistance of the IT team if needed and provide clear instructions to the client on how to access and utilize the online banking platform.
Approval: Online Banking Profile
Will be submitted for approval:
Set up customers online banking profile
Will be submitted
Inform client about the account set-up details
This task involves informing the client about the details of their newly set up account, including the account number, available banking services, and any specific instructions or restrictions. The purpose of this task is to ensure that the client is fully informed and prepared to start using their account. The desired result is to have clear and concise communication with the client regarding their account set-up details. To successfully complete this task, you will need access to the client's account information and a good understanding of the available banking services and account features. Potential challenges may include client communication preferences or language barriers. To overcome these challenges, it is important to tailor the communication based on the client's preferences and provide translation services if needed.
Completion of onboarding process
This task marks the completion of the onboarding process for the client. It signifies that all the necessary steps and requirements have been fulfilled and the client is ready to start utilizing the bank's products/services. The desired result is to provide a seamless and efficient onboarding experience for the client. To successfully complete this task, you will need to verify that all the required documents, agreements, and approvals have been obtained. Potential challenges may include missing or incomplete information. To overcome these challenges, it is important to regularly review the onboarding checklist and seek feedback from the legal and compliance teams.
Verification of clients identity
In this task, you will verify the client's identity to comply with the bank's Know Your Customer (KYC) requirements and regulatory obligations. By verifying the client's identity, you will ensure that the bank is dealing with legitimate and authorized individuals or entities. The desired result is to successfully verify the client's identity and comply with the regulatory requirements. To successfully complete this task, you will need access to reliable identification documents, such as passports or national identity cards, and a good understanding of the bank's verification procedures. Potential challenges may include incomplete or forged identification documents. To overcome these challenges, it is important to establish a robust verification process that includes document validation and identity verification checks.
Approval: Verification Of Client's Identity
Will be submitted for approval:
Verification of clients identity
Will be submitted
Communicate bank policies and process to the client
This task involves communicating the bank's policies and processes to the client, ensuring that they have a clear understanding of their rights, responsibilities, and obligations as a banking customer. The purpose of this task is to facilitate transparency and maintain a good client-bank relationship. The desired result is to have the client fully informed and aware of the bank's policies and processes. To successfully complete this task, you will need access to the bank's policies and a good understanding of the key points that need to be communicated. Potential challenges may include language barriers or complex policies. To overcome these challenges, it is important to provide clear and concise explanations, offer translation services if needed, and address any concerns or questions raised by the client.
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Privacy policy
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Terms and conditions
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Fee schedule
4
Complaint handling process
5
Account closure procedure
Coordinate with other departments to ensure smooth onboarding
This task involves coordinating with other departments within the bank, such as legal, compliance, and operations, to ensure a smooth onboarding process for the client. By collaborating with these departments, you will be able to address any regulatory, legal, or operational requirements that may arise during the onboarding process. The desired result is to have a seamless and efficient onboarding experience for the client, with all necessary approvals and clearances obtained. To successfully complete this task, you will need to establish open lines of communication with the relevant departments and provide them with timely updates and necessary information. Potential challenges may include conflicting priorities or delays in obtaining approvals. To overcome these challenges, it is important to set realistic timelines, actively manage the onboarding process, and escalate any issues or concerns to the appropriate stakeholders.
