Overview

Party is a type of microservice that stores the party details (customer details):

• Personal details such as Date of Birth, Name, Nationality, Citizenship, and Address.
• Details associated with KYC/AML done as part of Onboarding. For example, the assessment and identifier details.
• Employment details
• Person Position Details. For example, if you are a Politically Exposed Person (PEP) or a Politically Exposed Person and their Relatives and Close Associates (PEPRCA).
• Tax Details
• Other Risk Identifiers

The objective of Party microservice is to create, update, retrieve, and delete the party details to/from the database specific to the Party microservice.

The microservice also provides APIs to create, update, retrieve, and delete the prospect details of a party such as a customer static information, groups, relationships, assessment information, and contact information. The Party microservice contains the attributes that are required to capture the KYC execution and the diligent data of each party.

To manage the party information that is required for both front end (Infinity) and back end (Transact or any other back-office system of the bank), Party microservice must provide an independent cloud-enabled solution. The record that is created in the Transact Customer application is captured by the DES component, which is added to the Streams (Topics). The Ingestor component subscribes the Topics and creates/updates an entry in the microservices’ database accordingly. Microservice must expose management APIs through IRIS for the bank users to manage party information for products managed in Transact.

The distribution service of Party microservice is fully containerized and can be deployed independently irrespective of any back end of the bank.

You can integrate the Party microservice with the Onboarding app, Retail Banking, and SME Banking.

Data Model

The Party microservice uses the NoSQL data model to manage party information. NoSQL is the standard language to manage unstructured data. A NoSQL database can be used to insert, update, and retrieve database records. A NoSQL database is more scalable and provides superior performance.

In the NoSQL data model, the KEY_PARTITION attribute is available to store unique records in the database.

To view the NoSQL data model of Party microservice and different entities associated with it, click here.