2.1.2.5 Enhanced Due Diligence

KYC identifies all risk assessments which need further investigation as events, and such risk assessments are considered as KYC events, and the events are promoted to a case. The decision on which risk assessments must be moved is based on the conditions mentioned above. The KYC system provides the following information to Enterprise Case Management (ECM) for those KYC risk assessments which are investigated as a case in OFS ECM:

• Basic details of the risk assessment details
• Details of the risk score along with the risk parameters and its actual value
• Accelerated Rereview rules met by the customer
• Rules met by the Rule-based assessment model
• Internal and external relationships of the customer calculated or derived by the system

During case closure, the ECM system provides information about the user who closed the case, the date of closure, and the final risk score as of the case closure date to the KYC system.

Based on this information, the KYC system calculates the next review date and is used for feedback to the core banking system and the AML system.

After the case investigation is completed by the investigator, the ECM system calls a rest-based service of KYC which captures the following data elements in the KYC system:

• The user who closed the case
• The date of closure
• Final Risk Score of the customer during case closure (this would be the system score if there was no override performed. If there is an override performed, then it would be the overridden risk score)
• Next Rereview Date: This is a manually overridden rereview date provided by the system and is considered only for the periodic next review and not applicable for accelerated review. This date is given priority over the system calculated review date.

For more information, see the Oracle Financial Services Enterprise Case Management documents.