1.9.2 Verification Policy

This topic describes information about verification policy.

Verification Policy defines the specific conditions and events that determine when a verification process should be triggered during the application lifecycle. These policies can be configured at different levels, including Party, Product, and Collateral, allowing banks to apply verifications based on the relevant context. The policy ensures that verification types, such as ID proof or income proof, are triggered only when necessary and based on information declared by the applicant or derived from application data.

For example, a Rental Income Verification is triggered only if the applicant declares rental income, using a fact-condition rule defined in the policy. The policy also specifies the stage in the process when verification should occur, such as during application entry or assessment and on what context it applicable, such as Party, Product, or Collateral. This approach provides banks with a flexible and configurable framework to manage verification processes across different products, customers, and assets while ensuring consistency and auditability.

This topic contains the following sub-topics:

• Create Verification Policy
  This topic provides the systematic instructions to create a verification policy.
• View Verification Policy
  This topic provides the systematic instructions to view the created verification policy information.