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Whitepaper E Kyc By Inflow

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Know your Customer Software Solution

Know your Customer Software Solution

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  • 1. e-KYC Know Your Customer Workflow ProcessWhite paper: e-KYC sales@inflowconsulting.com7/28/2011 786.488.6383
  • 2. e-KYC Document Contents: 1. WHAT IS e-KYC? ................................................................................................................................ 4 2. USER ROLES ....................................................................................................................................... 4 3. INCLUDED WORKFLOW ..................................................................................................................... 4 4. FUNCTIONAL SCOPE .......................................................................................................................... 4 4.1. e-KYC Home page with integrated search and results.................................................................. 4 4.2. e-KYC Forms .................................................................................................................................. 5 4.2.1. CIP Form for Individuals ............................................................................................................ 5 4.2.2. CIP Form for Corporations ........................................................................................................ 5 4.2.3. Account Profile Form ................................................................................................................ 5 4.3. e-KYC Form Features ..................................................................................................................... 5 4.4. e-KYC Form Expiration Alerts ........................................................................................................ 5 4.5. e-KYC Reports................................................................................................................................ 6 4.6. e-KYC Master Fields ...................................................................................................................... 6 4.7. Risk Rating Management .............................................................................................................. 6 5. START USING e-KYC........................................................................................................................... 7 5.1. MAIN MENU BAR .......................................................................................................................... 7 5.2. e-KYC ICONS DESCRIPTION ........................................................................................................... 8 5.3. e-KYC BUTTONS DESCRIPTION ...................................................................................................... 9 6. e-KYC FUNCTIONS IN DEEP ............................................................................................................. 10 6.1. HOME .......................................................................................................................................... 10 6.2. CREATE NEW ACCOUNT PROFILE ................................................................................................ 11 6.3. ACCOUNT PROFILE HEADER ........................................................................................................ 11 6.4. ATTACHED FILES .......................................................................................................................... 14 6.5. FORM HISTORY............................................................................................................................ 15 6.6. CREATE NEW INDVIDUAL PROFILE.............................................................................................. 16 6.7. INDIVIDUAL PROFILE HEADER ..................................................................................................... 16White paper: e-KYC sales@inflowconsulting.com 2
  • 3. e-KYC 6.8. ATTACHED FILES & FORM HISTORY ............................................................................................ 20 6.9. CREATE NEW CORPORATION PROFILE ........................................................................................ 20 6.10. CORPORATIONS PROFILE HEADER .......................................................................................... 21 6.11. ATTACHED FILES & FORM HISTORY ........................................................................................ 26 7. COMPLIANCE SEARCH (e-KYC) ........................................................................................................ 27 8. DASHBOARD .................................................................................................................................... 28 9. REASSIGN ........................................................................................................................................ 29 10. ADMINISTRATION ....................................................................................................................... 29 10.1. ADMINISTRATION VIDEOS ...................................................................................................... 30 11. REPORTS ...................................................................................................................................... 31 11.1. Account Information ............................................................................................................... 31 11.2. Customer Information individuals .......................................................................................... 31 11.3. Customer Relationship individuals.......................................................................................... 31 11.4. Related parties ........................................................................................................................ 31White paper: e-KYC sales@inflowconsulting.com 3
  • 4. e-KYC1. WHAT IS e-KYC? 1. e-KYC is a custom solution designed to support all the functional services and structure of the Forms used by Compliance Area at any Financial Company. 2. e-KYC is a set of electronically forms designed for improve the information gathering process for the workflow of Compliance Area. 3. e-KYC is a solution that allows to users track the approval process, risk changes and history for each individual, corporation or account.2. USER ROLES The user roles included on the e-KYC Solution are the Following: ROLE NAME DESCRIPTION USER ASSIGNED TO THIS ROLE CAN CREATE AND SUBMIT FORMS DATA ENTRY FOR APPROVAL PROCESS CONTENT APPROVER – FINANCIAL USER ASSIGNED TO THIS ROLE CAN CREATE, EDIT AND SUBMIT CONSULTANT FORMS FOR APPROVAL PROCESS USER ASSIGNED TO THIS ROLE CAN CREATE, EDIT, SUBMIT AND MANAGER APPROVE FORMS FORM READERS USER ASSIGNED TO THIS ROLE CAN READ FORMS USER ASSIGNED TO THIS ROLE CAN CREATE, EDIT FORMS, ADMINISTRATOR APPROVE FORMS, ADD ITEMS TO MASTR LISTS, CHANGE RISKS DEFINITION AND CHANGE FORM FIELDS3. INCLUDED WORKFLOW The e-KYC Solution includes an approval workflow that allows to each role set workflow changes and comments for each individual profile, corporation profile or account profile included.4. FUNCTIONAL SCOPE This section enumerates the main functions that user will perceive on the e-KYC Solution, in the following sections this document will detail each of the following utilities: 4.1. e-KYC Home page with integrated search and results e-KYC Home Page presents a search text box that will be used to search on the complete database. The results are filtered based on the typed text and present the details link to get access into the individual, corporation or account.White paper: e-KYC sales@inflowconsulting.com 4
  • 5. e-KYC 4.2. e-KYC Forms 4.2.1. CIP Form for Individuals The CIP Forms for individuals include the functionality to register the following roles: ♦ Primary Account Holder ♦ Secondary Account Holder ♦ Authorized Signer ♦ P.O.A. ♦ Shareholder / Owner 4.2.2. CIP Form for Corporations The CIP Forms for Corporations include the functionality to register the following roles: ♦ Primary Acc. Holder ♦ Secondary Acc. Holder ♦ Authorized Signer ♦ P.O.A. ♦ Shareholder / Owner 4.2.3. Account Profile Form The account profile saves the relationship between roles individuals, corporations and accounts. This Form also include a link to the details of all related individual or corporate and also allows to users print an complete e-KYC based on the relationships registered on the account. 4.3. e-KYC Form Features All the forms present the following features: ♦ Based on the role selection the form will ask to user the specific fields required for the selected role to correctly fill the form with the relevant information. ♦ Forms include a Related Parties Section where users can find a link to each related accounts, individuals or corporation related. ♦ Forms include the following form views for each item on database: Add New Item, Edit Item, View Only Item and Print View. ♦ The Add New Item and Edit Item form includes an automatic calculation of risk rating for the item based on the field’s values selection. This risk rating could be manually edited by a user assigned to the Compliance Officer or Administrator roles. 4.4. e-KYC Form Expiration Alerts The solution includes an automated service that identifies forms that are expired and need to be updated. The automated service could be setup to define the time period for these expirationWhite paper: e-KYC sales@inflowconsulting.com 5
  • 6. e-KYC periods. 4.5. e-KYC Reports The solution offers 4 different reports: ♦ Account Information ♦ Related Parties ♦ Customer Relationship Individuals ♦ Customer Information-Individuals For all reports the “export to spreadsheet” function is available. 4.6. e-KYC Master Fields The Compliance Site Solution includes the definition of master lists for every field set as Dropdown. These feature offers to the users members of the Administrators Role add, edit or remove items from master lists. 4.7. Risk Rating Management The Compliance Site Solution includes the feature to manage the risk for fields marked as Risk indicators. This feature offer to user add, edit or remove risk levels to fields that are set as “Risk ChangerWhite paper: e-KYC sales@inflowconsulting.com 6
  • 7. e-KYC5. START USING e-KYC 5.1. MAIN MENU BAR The following table describes each of the tools that can be found on Menu bar Button Image Tool Name Description Main Page where the user can search any Home account, to create a new account , to create new individual or corporation Page where the user can find lists of Dashboard individuals, corporations or accounts filtered by status or assignment Button Image Tool Name Description Page where the user can reassign an Reassign account selected to another userWhite paper: e-KYC sales@inflowconsulting.com 7
  • 8. e-KYC Page where the user can replace a Global user Reassign selected user to another user for all forms included. Page where the users assigned to administrator role can add items or delete Administration items of the master’s lists, add new fields to forms, set orders and change field’s parameters. Page where the user can find the e-KYC reports: Accounts Information, Related Reports Parties, Relationship of Individuals and Information of Individuals. Recycle Bin Recover Deleted Items. All Site Content Displays all sites, lists, and libraries in this site. 5.2. e-KYC ICONS DESCRIPTION The following table describes each icon that can be found on the e-KYC Forms: Icon Image Tool Name Description When a user over mouse on it helps to Help understand more about the field It indicates that the selected item on a dropdown Risk Low field has a low risk It indicates that the selected item on a dropdown Risk Medium field has a medium riskWhite paper: e-KYC sales@inflowconsulting.com 8
  • 9. e-KYC It indicates that the selected item on a dropdown Risk High field has a high risk It indicates that the selected field allows Attach Documents attaching a file to form in progress. This icon can be found on results tables. This icon Status validation corresponds to the state Waiting for user validation or approval. This icon can be found on results tables. This icon Status Approved corresponds to the state Account approved This icon can be found on results tables. This icon corresponds to the link where the user can find Details details about account, individual or corporate information. This icon can be found on the header of each Form Risk form. This icon Is automatically calculated based on the highest risk from all form fields. 5.3. e-KYC BUTTONS DESCRIPTION The following table describes each button that can be found on the e-KYC Forms: Button Image Button Name Description Clicking this button returns to the Back to Home main page. Button Image Button Name Description Clicking this button saves a copy of Save as Draft the form as draft. Clicking this button the form will be Send to Approval sending to the next stage on Process workflow and will be available for approval. Clicking this button the user accepts Approve as satisfactory the registered information.White paper: e-KYC sales@inflowconsulting.com 9
  • 10. e-KYC6. e-KYC FUNCTIONS IN DEEP 6.1. HOME Home page is the landing page of e-KYC Solution. To reach this page user can go to the menu and click to HOME. On this page the user can search any account or to create a new account, individual or corporation according with the following screen. Option Name Description New form where the user can put information Create New Account Profile about the new account New form where the user can put information Create New Individual Profile about the new Individual New form where the user can put information Create New Corporation Profile about the new corporation Where the user can search any customer Compliance Search information by ID or Name.White paper: e-KYC sales@inflowconsulting.com 10
  • 11. e-KYC 6.2. CREATE NEW ACCOUNT PROFILE If you want to create a new account profile you need to click in the icon named as “Create New Account Profile” and complete account form. 6.3. ACCOUNT PROFILE HEADER User can find on the header section the following items: Form Title Form Risk Level & Icon Form PEP Icon Section General Information Attached Form Tab Files Tab History Tab The Following illustration shows the user form interface for the general information Tab:White paper: e-KYC sales@inflowconsulting.com 11
  • 12. e-KYCWhite paper: e-KYC sales@inflowconsulting.com 12
  • 13. e-KYC The Following table shows the fields details for the Account Profile Form: Section Description Information about account classification: • Title Field: The user can select title field (Certificate of Good Standing, Partnership Registry Certificate, Gov.-Stamped Memorandum & Art. Inc., Other gov.t-issued doc. Or Certificate of Incorporation) • Group: Obligatory field .The user can select the account group, it means if the account is individual or corporation. • Designation: Obligatory field. *Domestic* if customer is either a US Citizen or a US permanent Resident otherwise select Account Classification *international* • Class: Obligatory field. Select Type or Class for the account. • Account Type: Obligatory field. Users can select account type between Advisory or Brokerage (Advisory Account is the advisory service for investors interested in establishing portfolios tailored to their needs and preferences). (A Brokerage account is the traditional account which provides our customers convenient access to global financial markets). This section saves the information about finance profile. Users can indicate the estimated incoming and outgoing activity per year, the Account Activity expected size of the account within the next 3 years, country of Profile origin of expected incoming activity and country of destination of expected outgoing activity. This section saves the financial details for the account. The form requires financial statements, bank statements, tax declaration and Financial Information customer related accounts that will be used to send and receive funds or assets. This section set the account relationship with its primary account holders, secondary account holders, P.O.A., Authorized signers or Related Parties Shareholder. Users can search individuals or corporations from database o directly create a new one to add to this account. Describe briefly expected activity, purpose of this account and any Comments other information the user considers relevant to be registered as part of this form.White paper: e-KYC sales@inflowconsulting.com 13
  • 14. e-KYC 6.4. ATTACHED FILES User can find on the header section the following items: Form Title Form Risk Level & Icon Form PEP Icon Section General Information Attached Form Tab Files Tab History Tab The following illustration shows the user interface for the Attached Files Tab: Account Number & Form Risk Level & Icon Form PEP Icon Section Name File Selection Expired Icon File Description Section and Comments Upload File Version History Attached Files History Table Open file ButtonWhite paper: e-KYC sales@inflowconsulting.com 14
  • 15. e-KYC 6.5. FORM HISTORY User can find on the header section the following items: Form Title Form Risk Level & Icon Form PEP Icon Section General Information Attached Form Tab Files Tab History Tab The following illustration shows the user interface for the Form History Tab: Approval History Table Modification History Table Click on Version No. link to open a read form of thisWhite paper: e-KYC sales@inflowconsulting.com 15
  • 16. e-KYC 6.6. CREATE NEW INDVIDUAL PROFILE Users can create a new individual profile clicking on the icon named as “Create New Individual Profile” and complete Individuals form. 6.7. INDIVIDUAL PROFILE HEADER User can find on the header section the following items: Form Title & Form Status Form Type Form Risk Level & Icon Form PEP Icon Section General Attached Form Information Tab Files Tab History Tab The following illustrations show the user interface for the General Information Tab:White paper: e-KYC sales@inflowconsulting.com 16
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  • 19. e-KYC The Following table shows the fields details for the Individuals Profile Form: Primary Secondary Authorized Shareholder Field Description P.O.A. Acc. Holder Acc. Holder Signer / Owner The CIP Forms for individuals include the functionality to register the following Sub-types: Role within • Primary Acc. Holder • Secondary Acc. Holder Apply Apply Apply Apply Apply the Account • Authorized Signer • P.O.A. • Shareholder / Owner Personal information Details Section. When the user places the CIP country of the individual Apply Apply Apply Apply Apply Information automatic the system applies the risk that corresponds. Risk icon is showed at right side of the field Complementary personal information like, country of birth, nationality, country of residence and phone numbers. Additional Apply only Personal Here also when the user Apply Apply Apply Apply Country of Information selects the country of birth Birth automatically the system applies the risk that corresponds. Risk icon is showed at right side of the field Information of the Mailing Doesn’t individual official mailing Apply Apply Apply Apply Address apply address. Primary Secondary Authorized Shareholder Field Description P.O.A. Acc. Holder Acc. Holder Signer / OwnerWhite paper: e-KYC sales@inflowconsulting.com 19
  • 20. e-KYC Does Individual’s occupational Doesn’t Occupation Apply Apply Apply n’t history and details apply apply In this section, the user validates the individual status and verification Verification Apply Apply Apply Apply Apply requirements starting at the Office of Foreign Asset Controls (OFAC) This field asks if the individual or its family is PEP or has been a Senior Apply Apply Apply Apply Apply Foreign political Figure or Politically exposed person Individual financial information details Does Financial section. The form Doesn’t Apply Apply Apply n’t Information requires annual income , apply apply Proof of Income, Source of Funds ETC. Section to Add more Account individual’s accounts Apply Apply Apply Apply Apply Information held at another financial institutions Describe briefly expected activity, purpose of this individual and any other Comments Apply Apply Apply Apply Apply information the user considers relevant. This section also allows to attach documents 6.8. ATTACHED FILES & FORM HISTORY The functions allowed on these tabs are the same to the account profile form. To see details please refers to sections 6.4 and 6.5 on this document. 6.9. CREATE NEW CORPORATION PROFILE Users can create a new corporation profile clicking on the icon named as “Create New Corporation Profile” and complete Corporations form.White paper: e-KYC sales@inflowconsulting.com 20
  • 21. e-KYC 6.10. CORPORATIONS PROFILE HEADER User can find on the header section the following items: Form Title & Form Status Form Type Form Risk Level & Icon General Form PEP Icon Section Attached Form Information Tab Files Tab History Tab The following illustrations show the user interface for the General Information Tab:White paper: e-KYC sales@inflowconsulting.com 21
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  • 24. e-KYC The Following table shows the fields details for the Corporations Profile Form: Primary Secondary Authorized P.O.A. Shareholder Field Description Acc. Holder Acc. Holder Signer / Owner The CIP Forms for corporation include the functionality to register the following Relationships: • Primary Acc. Holder • Secondary Acc. Holder Role within • Authorized Signer Apply Apply Apply Apply Apply the Account • P.O.A. • Shareholder / Owner Primary Secondary Authorized P.O.A. Shareholder Field Description Acc. Holder Acc. Holder Signer / OwnerWhite paper: e-KYC sales@inflowconsulting.com 24
  • 25. e-KYC Basic information about the corporation. When the user selects the country automatically the system applies the risk that corresponds. Risk icon is CIP showed at right side of the Apply Apply Apply Apply Apply Information field. This Section Also includes a sub section to register the official legal address and multiple mailing addresses for the company This is additional Corporation Apply only Contact information, contact person, Apply Apply Apply Apply contact Information website or email. person In this section, the user validates the individual status and verification requirements starting at the Office of Foreign Asset Controls (OFAC). Verification Apply Apply Apply Apply Apply This section also allows to users to upload multiple financial documents like statements, tax declarations reference letters or additional financial support documents This section allows registering Doesn’t Ownership the actual control over Apply Apply Apply Apply apply property in the company. This field asks if the corporation is controlled by PEP or has been by a Senior Apply Apply Apply Apply Apply Foreign political Figure or Politically exposed person Primary Secondary Authorized P.O.A. Shareholder Field Description Acc. Holder Acc. Holder Signer / OwnerWhite paper: e-KYC sales@inflowconsulting.com 25
  • 26. e-KYC This sections save the Business details and financial Line Of information. The section Does Business & Doesn’t requires line of business, # of Apply Apply Apply n’t Financial apply employees, gross sales, apply Info annual income, Source of Funds. Section to show corporation’s Account accounts registered on the e- Apply Apply Apply Apply Apply Information KYC solution. This section allows to users to relate individuals or corporations as related parties of this corporations. Related Users can search by id or Apply Apply Apply Apply Apply Parties name and also is possible to create a new individual or corporation on this form and directly relating to the actual corporation. Describe briefly expected activity, purpose of this individual and any other Comments information the user Apply Apply Apply Apply Apply considers relevant. This section also allows attaching documents. 6.11. ATTACHED FILES & FORM HISTORY The functions allowed on these tabs are the same to the account profile form. To see details please refers to sections 6.4 and 6.5 on this document.White paper: e-KYC sales@inflowconsulting.com 26
  • 27. e-KYC7. COMPLIANCE SEARCH (e-KYC)The main page presents a search text box that allows users searching on the complete database. Theresults are filtered based on the text and it is present the details link to get access into the CIP orAccounts Forms.The search can be by ID or Name; Results will depend of the user search input. The following illustrationshows the user interface: View or to edit information in the form Form Print View Icon for Risk LevelWhite paper: e-KYC sales@inflowconsulting.com 27
  • 28. e-KYC8. DASHBOARDDashboard is a powerful lead collection and management tool. Here the user can see its pending forms,pending approvals, Expired forms, about to expire forms, forms created by user, forms approved,rejected forms, form drafts, or accounts pending for number assignment:The following illustration shows the user interface:White paper: e-KYC sales@inflowconsulting.com 28
  • 29. e-KYC9. REASSIGNIn this page the user can change an assignment of the account to a different user. The followingillustration shows the user interface: Search the account that you want to reassign to another user FANNY Select account that you want to reassign to Select user that another user you want to re-assign10. ADMINISTRATIONThese sets of functions are allowed to users that are members of administrator role. In this section userscan: ♦ Add, edit or delete items from any master list (dropdown lists). ♦ Change forms configurations like new sections, add fields or change fields order ♦ Change field’s configuration like help texts, risk change or mandatory fields.Without interference of the programing or design team.White paper: e-KYC sales@inflowconsulting.com 29
  • 30. e-KYCTo easily identify the configuration lists users can browse on the administration list menu to identify theobjective and content of each list. The following illustration shows a sample of the administrationsection: Configuration or Master List Name Configuration or Master List Description 10.1. ADMINISTRATION VIDEOS The main features of this administration section are deeply explained on the administration videos section. This videos are included as part of the administration section below the configuration and master lists. The videos include main functions like: ♦ Create a new Drop Down Menu ♦ Add a new dropdown field to forms ♦ Add new simple fields (text, check or multiple text lines) to forms. ♦ Change Field Parameters like help text, order or risk. ♦ Add new items to master listsWhite paper: e-KYC sales@inflowconsulting.com 30
  • 31. e-KYC11. REPORTSThis section presents the Reports and its description in Alphabetical order: 11.1. Account Information Obtain general account information of the customers such as principal, risk, geography, class, country Origin, group, Account Type and country destination. The user can filter the parameters depending on the information that it needs in the report. All the reports can be exported to several formats: XML, CSV, PDF, MHTML, XLS, TIFF, DOC. 11.2. Customer Information individuals This report presents a summary of the individual’s information and the accounts where is related. The information can be filtering by the same fields that the account information report. 11.3. Customer Relationship individuals This report is a list of the customers by role. It is used primarily for identifying individual record and the role on the account. 11.4. Related parties Report that helps to identify the members of every account, Here the user can review corporations related with different applicable accounts.White paper: e-KYC sales@inflowconsulting.com 31