2 Know Your Customer Process

Oracle Financial Services Know Your Customer (OFS KYC) assesses the risk associated with a customer by considering different attributes of the customer. The workflow of KYC enables Financial Institutions (FI) to perform Due Diligence, Enhanced Due Diligence, and continuous monitoring of customers. The attributes differ based on the customer type.

This chapter discusses the various processes involved in reviewing of an existing customer and a prospective customer during Onboarding.

Topics:

• Review of Existing KYC Customers
• Review of Prospective KYC Customers