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## Create Virtual Entity

This topic describes the systematic instructions to configure the virtual entity and its preferences.

Specify User ID and Password, and login to Home screen.

1. On Home screen, click Virtual Account Management. Under Virtual Account Management, click Customer.
2. Under Customer, click Virtual Entity. Under Virtual Entity, click Create Virtual Entity.
   The Create Virtual Entity - Entity Information screen displays.

   Figure 5-1 Create Virtual Entity - Entity Information

   Description of "Figure 5-1 Create Virtual Entity - Entity Information"
3. Specify the fields on Create Virtual Entity - Entity Information screen.

   Note:

   The fields marked as Required are mandatory.
   For more information on fields, refer to the field description table.

   Table 5-1 Create Virtual Entity - Entity Information – Field Description

   Field | Description
   --- | ---
   Customer Number | Click Search icon to view and select the required customer number.
   Customer Name | Based on the Customer Number selected, the information is auto-populated.
   Virtual Entity ID | This field is disabled. Once the record is saved, an Entity ID Generation screen appears, where you can provide the information.
   Entity Name | Specify a name for the entity.
   Entity Type | Select one of the following: Corporate: If selected, the record configured is for a corporate entity. Individual: If selected, the record configured is for an individual entity. Note: Depending on the Entity Type selected, the Entity Information appears with different fields.
   Corporate Type | Select the corporate type. The available options are: Corporation Partnership Sole Proprietorship Micro Business Note: The drop down values can be updated at bank level as a part of Day 0 setup. This field appears only if the Entity Type is selected as Corporate.
   Country of Incorporation | Click Search icon to view and select the required country for which you want to incorporate the virtual entity. Note: This field appears only if the Entity Type is selected as Corporate.
   Date of Incorporation | Select a date of incorporation from the drop-down calendar. Note: This field appears only if the Entity Type is selected as Corporate.
   Unique ID | Specify an unique ID for the virtual entity. Note: This field appears only if the Entity Type is selected as Corporate.
   Email ID | Specify the customer Email ID. Note: This field appears only if the Entity Type is selected as Corporate.
   Mobile | Specify the customer contact number. Note: This field appears only if the Entity Type is selected as Corporate.
   Work Phone 1-2 | Specify the customer work contact number. Note: This field appears only if the Entity Type is selected as Corporate.
   Preferred Mode | Select one of the following: Mobile: If selected, mobile is the preferred mode to contact the customer. Email: If selected, Email is the preferred mode to contact the customer. Note: This field appears only if the Entity Type is selected as Corporate.
   BIC | Specify the business identifier code. Note: This field appears only if the Entity Type is selected as Corporate.
   First Name | Specify the first name of an individual. Note: This field appears only if the Entity Type is selected as Individual.
   Middle Name | Specify the middle/maiden name of an individual. Note: This field appears only if the Entity Type is selected as Individual.
   Last Name | Specify the last name/surname of an individual. Note: This field appears only if the Entity Type is selected as Individual.
   Date of Birth | Select a DOB of the individual from the drop-down calendar. Note: This field appears only if the Entity Type is selected as Individual.
   Gender | Select a gender from the drop-down list. Note: This field appears only if the Entity Type is selected as Individual.
   Nationality | Click Search icon to view and select the required nationality. Note: This field appears only if the Entity Type is selected as Individual.
   National ID | Specify a national ID. Note: This field appears only if the Entity Type is selected as Individual.
   Home Phone | Specify the residential contact number of the individual. Note: This field appears only if the Entity Type is selected as Individual.
   Work Phone | Specify the official contact number of the individual. Note: This field appears only if the Entity Type is selected as Individual.
   Mobile | Specify contact number of the individual. Note: This field appears only if the Entity Type is selected as Individual.
   Email ID | Specify Email ID of the individual. Note: This field appears only if the Entity Type is selected as Individual.
   Preferred Mode | Select one of the following: Mobile: If selected, mobile is the preferred mode to contact the customer. Email: If selected, Email is the preferred mode to contact the customer. Note: This field appears only if the Entity Type is selected as Individual.
   Identification Type | Select an identification type from the drop-down list. The available options are: National ID Passport SSN Note: The drop down values can be updated at bank level as a part of Day 0 setup
   Identification Number | Specify an identification number.
   Tax Identification Number | Specify a tax identification number.

4. Click Next.
   The Entity ID Generation popup screen displays.

   Figure 5-2 Entity ID Generation

   Description of "Figure 5-2 Entity ID Generation"
5. Specify the required Entity ID in the format displayed.
   To create a new entity ID format, refer to Entity Mask Configuration Maintenance in the Configuration User Guide.
6. Click OK to save the entity ID.

Address Details:

The Address Details screen allows the user to capture the address details for a customer.

7. Click Next.
   The Create Virtual Entity - Address Details screen appears.

   Figure 5-3 Create Virtual Entity - Address Details

   Description of "Figure 5-3 Create Virtual Entity - Address Details"
8. Specify the fields on Create Virtual Entity - Address Details screen.

   Note:

   The fields marked as Required are mandatory.
   For more information on fields, refer to the field description table.

   Table 5-2 Create Virtual Entity - Address Details – Field Description

   Field | Description
   --- | ---
   Customer Number | Displays the customer number.
   Customer Name | Displays the customer name.
   Virtual Entity ID | Displays the Virtual Entity ID.
   Entity Name | Displays the name of the entity.
   Address Line 1 | Specify the address line 1 of the correspondence address. Note: This field is mandatory if Structured or Hybrid Address Applicable is not selected.
   Address Line 2 | Specify the address line 2 of the correspondence address.
   Address Line 3 | Specify the address line 3 of the correspondence address.
   Address Line 4 | Specify the address line 4 of the correspondence address.
   Country | Click Search icon to view and select the require country of the correspondence address. Note: This field is mandatory if Structured or Hybrid Address Applicable is not selected.
   Zip Code | Specify the zip code details of the correspondence address.
   Copy from Correspondence Address | Select the checkbox to copy the address from the correspondence address to registered address.
   Address Line 1 | Specify the address line 1 of the registered address. Note: This field is mandatory if Structured or Hybrid Address Applicable is not selected.
   Address Line 2 | Specify the address line 2 of the registered address.
   Address Line 3 | Specify the address line 3 of the registered address.
   Address Line 4 | Specify the address line 4 of the registered address.
   Country | Click Search icon to view and select the require country of the registered address. Note: This field is mandatory if Structured Address Applicable is not selected.
   Zip Code | Specify the zip code details of the registered address.

Structured or Hybrid Address

The Structured or Hybrid Address screen allows the user to capture the address details of a customer in a structured or hybrid format.

If Structured or Hybrid Address Applicable is selected in Create Bank Parameters screen, then Structured or Hybrid Address is visible to provide the required information.

9. Click Next.
   The Create Virtual Entity - Structured or Hybrid Address screen displays.

   Figure 5-4 Create Virtual Entity - Structured or Hybrid Address

   Description of "Figure 5-4 Create Virtual Entity - Structured or Hybrid Address"
10. Specify the fields on Create Virtual Entity - Structured or Hybrid Address screen.

    Note:

    The fields marked as Required are mandatory.
    For more information on fields, refer to the field description table.

    Table 5-3 Create Virtual Entity - Structured or Hybrid Address – Field Description

    Field | Description
    --- | ---
    Department | Specify the department.
    Sub Department | Specify the sub department.
    Street Name | Specify the street name.
    Building Number | Specify the building number.
    Building Name | Specify the building name.
    Floor | Specify the floor number.
    Post Box | Specify the post box details
    Room | Specify the room number.
    Post Code | Specify the post code details.
    Town Name | Specify the town name.
    Town Location Name | Specify the location name of the town.
    District Name | Specify the district name.
    Country Sub Division | Specify the country sub division.
    Country | Click Search to view and select the required country.
    Address Line 1 | Specify the details for Address Line 1. When Address Line 1 is provided, it indicates that the address in a hybrid format.
    Address Line 2 | Specify the details for Address Line 1. When Address Line 2 is provided, it indicates that the address in a hybrid format.

KYC Details

The KYC Details screen allows the user to capture the address details for a customer.

11. Click Next.
    The Create Virtual Entity - KYC Details screen displays.

    Figure 5-5 Create Virtual Entity - KYC Details

    Description of "Figure 5-5 Create Virtual Entity - KYC Details"
12. Specify the fields on Create Virtual Entity - KYC Details screen.

    Note:

    The fields marked as Required are mandatory.
    For more information on fields, refer to the field description table.

    Table 5-4 Create Virtual Entity - KYC Details – Field Description

    Field | Description
    --- | ---
    KYC Status | Select a KYC status from the drop-down list.
    KYC Reference | Specify a KYC reference number.
    Last KYC Date | Select the last KYC performed from the drop-down calendar.

Statement Preferences

The Statement Preferences screen allows the user to configure the account statement preferences.

13. Click Next.
    The Create Virtual Entity - Statement Preferences screen displays.

    Figure 5-6 Create Virtual Entity - Statement Preferences

    Description of "Figure 5-6 Create Virtual Entity - Statement Preferences"
14. Specify the fields on Create Virtual Entity - Statement Preferences screen.

    Note:

    The fields marked as Required are mandatory.
    For more information on fields, refer to the field description table.

    Table 5-5 Create Virtual Entity - Statement Preferences – Field Description

    Field | Description
    --- | ---
    Customer Number | Displays the customer number.
    Customer Name | Displays the customer name.
    Virtual Entity ID | Displays the virtual entity ID.
    Entity Name | Displays the entity name.
    Generate PDF | If selected, an account statement is generated in PDF format.
    Statement Type | Select one of the options: Consolidated: If selected, a consolidated statement is generated. Account Level: If selected, an account level statement is generated.
    Frequency | Select a frequency from the drop-down list.
    Due On | Select the due date to generate the account statement from the drop-down list. The available options based on the frequency selected are: Daily - This field is not applicable and will not appear for Daily frequency. Weekly - Select the day when the account statement needs to be generated for the week. Monthly - Select the day of the month when the account statement needs to be generated for the month. Example: If Due On is selected as “31”, this will be considered as the last day of the month and the account statements will be generated on the last day for all the months. Quarterly - Select the end month of quarter when the account statement needs to be generated. Statement will always be generated on the last day of the month selected Example: If Due On is selected as “March (3)”, the account statement will be generated on the last day of the month (31st March) for the period of 1st January to 31st March. Yearly - Select the month when the account statement needs to be generated for the year. Statement will always be generated on the last day of the month selected. Note: PDF Account statements can be generated in customer's language. Based on the media and advice created, and report locale selected while creating the advice, report can be generated in that language. Language specific templates will need to be provided by the bank.
    Generate MT940 | If selected, the statement is generated in MT940 format.
    Generate MT950 | If selected, the statement is generated in MT950 format.
    Generate MT942 | If selected, the intra-day account statement is generated in MT942 format.
    Display IBAN | If selected, generated statement is reported with IBAN Account Number instead of Virtual Account Number. Note: System generates a statement automatically on the account closure day based on the statement preferences captured except the scheduled generation date.
    Generate Message Only On Movement | By default, it is disabled. If enabled, system generates statement only if additional entries have been posted subsequent to the previous statement generation.
    Report Transactions Since | Select one of the required options from the drop-down list: 940: If selected, the current statement includes all of the transactions posted and authorized since the previous MT940 generation. 950: If selected, the current statement includes all of the transactions posted and authorized since the previous MT950 generation. 942: If selected, the current statement includes all of the transactions posted and authorized since the previous MT942 generation.
    Generation Time (In Hours) | Select a timing for MT942 generation from the multi-select drop-down list. Note: The system supports only hourly time intervals. The statement is generated based on the virtual account's branch timezone.
    Generate CAMT.052 | If selected, the statement is generated in CAMT.053 format.
    Generate CAMT.053 | If selected, the intra day account statement is generated in CAMT.052 format.
    Generate Message Only On Movement | By default, it is disabled. If enabled, system generates statement only if additional entries have been posted subsequent to the previous statement generation.
    Report Transactions Since | Select the one of the required options from the drop-down list: 052: If selected, the current statement will include all the transactions posted and authorized since the previous CAMT.052 generation. 053: If selected, the current statement will include all the transactions posted and authorized since the previous CAMT.053 generation.
    Generation Time (In Hours) | Select a timing for CAMT.052 generation from the multi-select drop-down list. Note: The system supports only hourly time intervals. The statement is generated based on the virtual account's branch timezone.

15. Click Save and Close to save the details.
    The user can view the defined virtual entity in the View Virtual Entity.
16. Click Cancel to close the details without saving.

Parent topic: Virtual Entity