2.2.3.1 Purpose of the OFS Questionnaire in the KYC Onboarding Process

The questionnaire module intends to gather extraneous data points of prospects or customers which are specific to a certain set of conditions and are not expected to be answered by all prospects or customers. The questionnaire gathers answers which are required from the compliance team to analyze and decide whether the prospect is onboarded or not.

Note:

The questionnaire is not designed to replicate the application form of the onboarding system. The application form and all data related to the prospect are available in the onboarding system. The Onboarding system has to provide the appropriate information in the predefined format to the KYC system to process the onboarding request which then enables the KYC system to recommend whether the prospect can be onboarded or not.