A customer is an end user who has an account in your organization. On Woodcore, a customer can be an individual (a person) or an entity(business) using your financial products. The customer's account primarily has the customer's name and other relational information to identify the customer. However, a customer is not necessarily an account; it is safer to see a customer as a small set of information collected from users to manage your portfolio efficiently.
For example, Adam Adebanjo is a customer at Curtis Bank — A customer is the KYC information of an individual or an entity, like Adam.
The word Customer depending on your business structure can also be called Client.
As mentioned earlier, there are two customer types available on Woodcore, individual and entity. An individual (person) customer is a single customer account owned by an individual or a person, that is, a person with an account in your organization. Also referred to as an individual client. Your financial product offerings which includes savings, loan, and fixed deposit can be created for individual customers.
The other customer type is "Entity.” These accounts are typically used by businesses, organizations, or joint account holders. Where an entity has a savings or loan account, persons who belong to the entity can contribute and withdraw from it. Also, your organization's financial product offerings (savings, loans, and fixed deposits) can be created for an entity customer.
The customer module covers creating, editing, updating, and managing a customer's account.
Let’s dive into how a customer can be created!
Updated 7 months ago