6 KYC Check

This topic provides systematic instructions about the KYC Check of the Credit Amendment.

This is an optional stage. If the KYC details are available for the party and child party, the user can add the KYC details during the Credit Amendment process. Adding KYC details helps the Approver to determine the originality of the customer.

  1. On Home screen, select Tasks. Under Tasks, select Free Task.
    The Free Task page is displayed.

    Figure 6-1 Free Task


    Description of Figure 6-1 follows
    Description of "Figure 6-1 Free Task"

  2. Acquire & Edit the required KYC task. The KYC Evaluation - Customer Summary page is displayed.

    Figure 6-2 Customer Summary


    Description of Figure 6-2 follows
    Description of "Figure 6-2 Customer Summary"

    Note:

    For information on actions that can be performed in the Customer Summary page, refer Credit 360 User Guide.
  3. After reviewing the Customer Summary, click Next.
    The Amendment Summary page is displayed.

    Figure 6-3 Amendment Summary


    Description of Figure 6-3 follows
    Description of "Figure 6-3 Amendment Summary"

    Note:

    Refer Amendment Initiation - Amendment Summary for information on actions that can be performed in Amendment Summary page.
  4. To go to the KYC page, click Next.

    Figure 6-4 KYC Details


    Description of Figure 6-4 follows
    Description of "Figure 6-4 KYC Details"

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

  5. Click or mouse hover on the hamburger icon in the corresponding record. The following options appears:
    • KYC Details
    • KYC Evaluation (appears only if this feature is enabled in Maintenance module)
  6. To add the KYC Details, click KYC Details option.
    The KYC Details window is displayed.

    Figure 6-5 KYC Details


    Description of Figure 6-5 follows
    Description of "Figure 6-5 KYC Details"

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

    Table 6-1 KYC Details

    Fields Description
    Report Received If KYC report is available for the party / child party, 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, Yet To Verify, and Verification Failed.
    Create Click Create.

    KYC details are updated in the KYC page as shown below

    Figure 6-6 KYC Details


    Description of Figure 6-6 follows
    Description of "Figure 6-6 KYC Details"

  7. To perform KYC evaluation, click the hamburger icon and select KYC Evaluation. Questionnaire maintained for the KYC evaluation is displayed.

    Figure 6-7 KYC Evaluation


    Description of Figure 6-7 follows
    Description of "Figure 6-7 KYC Evaluation"

    For information on fields in the KYC Evaluation page, refer the below table.

    Table 6-2 KYC Evaluation

    Fields Description
    Next Category Select answers for the available questions and click Next Category.Select answers for the available questions and click Next Category.
    right arrow 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.
    Save Click Save.
    The KYC page is updated with the Evaluation Score as shown below.

    Figure 6-8 KYC Evaluation


    Description of Figure 6-8 follows
    Description of "Figure 6-8 KYC Evaluation"

  8. After adding KYC details or performing KYC evaluation for both the party and child parties, click Next.
    The Comments page is displayed.

    Figure 6-9 Comments


    Description of Figure 6-9 follows
    Description of "Figure 6-9 Comments"

  9. Post comments, if required. Posted comment is displayed below the Comments box.
  10. Click Submit.
    The Policy exceptions window is displayed.

    Figure 6-10 Policy exceptions


    Description of Figure 6-10 follows
    Description of "Figure 6-10 Policy exceptions"

    By default, policy exceptions are displayed for both the party and the child parties.

    To view the policy exception detail specific to party or child party, select the party from the drop down list at top left corner.

  11. Click the Checklist data segment.

    Figure 6-11 Checklist


    Description of Figure 6-11 follows
    Description of "Figure 6-11 Checklist"

    For information on fields in the Checklist page, refer the below table.

    Table 6-3 Checklist

    Fields Description
    Outcome Select the Outcome as PROCEED, if additional information is not required. Otherwise select the Outcome as Additional Info.
    Submit Click Submit.

    Note:

    Write Up data segment appears, if the data segment is enabled in the Maintenance module. For information on Write up data segment, refer Amendment Initiation chapter.