Introduction to Customer and Party

The on-boarding action is the very first activity carried out by the bank for a customer. Hence, it holds a lot of relevance from the bank’s perspective as this sets the course for a relationship that gets established between the bank and it's customer.

The bank, on its part, likes to collect maximum information of the customer, retail or corporate, during the on-boarding activity itself. Accordingly for AUMB, the customer details need to be captured, as per regulatory requirement in Australia.

As per Australian Regulation, it is required to capture the name and address of a customer. This apart, KYC details, Tax File Number, Exemption category needs to be captured.