5 KYC Check

This topic provides systematic instructions about the KYC Check stage in the Simplified Credit Proposal Evaluation Process.

This is an optional stage. If the KYC details are available for the organization, the banker can add the KYC details to the credit proposal. Adding KYC details helps to determine the originality of the organization.

Steps to add KYC details

To add KYC details, perform the following steps:

  1. From Home screen, click Tasks. Under Tasks, click Free Tasks..
    The Free Tasks page is displayed.

    Figure 5-1 Free Tasks

    Description of Figure 5-1 follows
    Description of "Figure 5-1 Free Tasks"
  2. Select the required application and click Acquire & Edit.
    The KYC Evaluation - Summary page is displayed.

    Figure 5-2 KYC Evaluation - Summary

    Description of Figure 5-2 follows
    Description of "Figure 5-2 KYC Evaluation - Summary"
  3. To view the sector and industry information, click the industry icon in customer information section.
    The Industry Details window is displayed.

    Figure 5-3 Industry Details

    Description of Figure 5-3 follows
    Description of "Figure 5-3 Industry Details"
  4. Click Close to exit the Industry Details window.
  5. To view the overview of the organization, click the entity overview icon in Customer Information section.
    The Entity Overview window is displayed.

    Figure 5-4 Entity Overview

    Description of Figure 5-4 follows
    Description of "Figure 5-4 Entity Overview"
  6. To change the layout of the entity overview, click the configuration icon at the top right corner.
    The Layout window is displayed.

    Figure 5-5 Layout

    Description of Figure 5-5 follows
    Description of "Figure 5-5 Layout"
  7. Select the required layout. Entity Overview is changed to the selected layout as shown below.
  8. To exit the Entity Overview window, click Close.

    In Customer Information section, the count of Share Holders, Contractors, Guarantors, and Bankers is displayed.

  9. To view the detailed information about the Share Holders, Contractors, Guarantors, and Bankers, click the respective count numbers.

    Note:

    For more information on actions that can be performed in the Summary page, Refer Credit 360 User Guide.
  10. After reviewing the Summary, click Next.
    The KYC page is displayed.

    Figure 5-7 KYC

    Description of Figure 5-7 follows
    Description of "Figure 5-7 KYC"

    In the KYC page, provision to add KYC details for the organization and all its connected parties is provided.

  11. To filter the required KYC record, click the Filter icon and specify the filter parameters or directly type the KYC detail in Type to filter text box.
  12. Click or mouse hover on the hamburger icon in the required list item (organization or its connected parties). The following options appears:
    • KYC Details
    • KYC Evaluation (appears only if this feature is enabled in Maintenance module)
  13. To add the KYC Details, click KYC Details option.
    The KYC Details window is displayed.

    Figure 5-8 KYC Details

    Description of Figure 5-8 follows
    Description of "Figure 5-8 KYC Details"

    For information on fields in the KYC Details screen, refer the below table.

    Table 5-1 KYC Details

    Fields Description
    Report Received If KYC report is available for the organization, enable the Report Received switch.
    Verification Date Click the calendar icon and select the KYC Verification Date.
    Effective Date Click the calendar icon and select the Effective Date on which the KYC verification is approved.
    KYC Method Type the KYC Method. For example: Field verification is a KYC Method.
    KYC Status Select the KYC Status. The options available are Verified, Not Verified, and Verification Failed.
  14. Click Create. KYC details are updated in the KYC page as shown below.
  15. To perform KYC evaluation, click the hamburger icon and select KYC Evaluation.
    The Questionnaire maintained for the KYC evaluation is displayed.

    Figure 5-10 KYC evaluation - Questionnaire

    Description of Figure 5-10 follows
    Description of "Figure 5-10 KYC evaluation - Questionnaire"
  16. Select answers for the available questions and click Next Category.
  17. Right arrow icon appears in case of multiple questions, click the right arrow and answer all the questions in all the category.

    Total score is generated and displayed for the KYC evaluation based on each answer provided.

  18. Click Save. The KYC page is updated with the Evaluation Score as shown below
  19. After adding KYC details or performing KYC evaluation for the organization and all its connected parties, click Next.
    The Comments page is displayed.

    Figure 5-12 Comments

    Description of Figure 5-12 follows
    Description of "Figure 5-12 Comments"
  20. Post comments, if required. Posted comment is displayed below the Comments box.
  21. Click Submit.
    The Policy exceptions window is displayed.

    Figure 5-13 Business


    Description of Figure 5-13 follows
    Description of "Figure 5-13 Business"

    By default, policy exceptions are displayed for both the organization (party) and its child party.

  22. To view the policy exception detail specific to party or child party, select the party from the drop down list at top left corner.
  23. Click the Checklist data segment.
  24. Select the Outcome as PROCEED, if additional information is not required. Otherwise select the Outcome as Additional Info.
  25. Click Submit.

    Note:

    Write Up data segment appears, if the data segment is enabled in the Maintenance module. Refer Appendix A for information on the Write Up data segment.