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Purchase Order Financing     |     Asset Based Lending (ABL)     |     Risk Participation     |     Document Preparation (DocPrep)     |     Customer Onboarding (COB)
 

 
Customer Onboarding
 
The FinShare-Customer Onboarding (COB) tool is designed to provide onboarding for customers for multiple bank services or applications. It incorporates accelerated customer data acquisition, verification and validations. The approach is to acquire data from vetted sources or deemed reliable sources to push the supplier information during the invitation/registration to the prospective supplier. The supplier may then review, edit, verify, validate, or enhance for submission rather than input all information from scratch, which would be prone to errors.
 
 
Highlights
 
  •     The number of documents (agreements, etc.) and their uploaded contents are configurable based on Client (Buyer) and Program.
  •     Sends invitation email with one time password to supplier. Email template is configurable at country level and supports multiple languages.
  •     Supplier logs into the system using a one time password to complete self registration.
    •   Complete setup form
    •   Complete supplier agreement document
    •   Upload supporting documents and provide optional ETA if document is not available
    •   the following document format can be accepted by the system:
      •   PDF
      •   Ms Word/Excel/PPT
      •   Images (such as jpeg, png and gif etc.)
      •   Text file
    •   Indicate which document requires original copy and provide optional ETA for tracking purpose (system generates alert before ETA X number of days)
    •   Maker has the option to save the registration and continue at later time
    •   Preview/print setup form and agreement document
  •     A designated legal representative appointed by the supplier can approve/reject self registration
  •     Once the Supplier submits its registration, the bank receives notification via email that a new supplier has submitted forms for implementation.
  •     If Supplier's information is already in the system (e.g. they are joining a new program), its previously entered information will be displayed as defaults (e.g. company address, certification of company registration, etc.)
  •     Supplier should be able to register for multiple currencies (multiple beneficiary accounts) within one registration.
  •     Same supplier can join multiple programs (with multiple registrations but do not need to repeatedly enter same data).
    •   Bank documentation team review supplier submitted registration
    •   Tracking the follow up of missing document and document discrepancy
    •   Track all required paper documents received
    •   The system provides follow up/notification to supplier for missing documents, based on ETA or X number of days after registration is submitted
    •   Optional upload scanning copy of original document received from supplier
    •   Perform compliance check
    •   Audit trail of checker activities
    •   Obtains the supplier vendor code (for required programs) from buyer and confirms Buyer linkages
    •   The Product Sales Specialist or Documentation Team has the ability to modify information provided by the Supplier accordingly. Supplier will have the visibility into the changes made
  •     Document team checker approves supplier registration
  •     Capability to interface with Supplier Finance system once registration is approved by documentation team
 

 
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