This
concept of perpetual KYC create numerous tasks (notifications in KYCP) for the
compliance teams to work on. Tasks that vary in nature on all types of
applications within the system (based on the right/role that the use has been
given). Such tasks could be anything from documents that are about to expire,
upcoming reviews, submission of data, change in risk bracket, new potential
false positives from third party screening providers and many more.
We have
clients who split such tasks based on the type of notification (such as
screening going to a specific team, documents to another, etc). Other clients
split the allocation of work based on the applications being assigned to
specific teams or team members.
Based
on popular demand however, this new feature addresses another request from
clients whereby the permitted user can create custom lists. Lists that can be
defined on any filter within the existing Advanced Search screen with the
inclusion of field values.
The user with the right can create unlimited
number of such pre-defined SEARCH LISTS. This could be based on the risk
bracket of the application, the type of entities, the status of the application
as well as the value within any field of the application (such as client name,
PEP, etc). Once these settings are defined the user can set the Name of the
pre-defined list and whether it should only show to a specific TEAM or TEAM
MEMBER (or all users).
The business remit of this feature is that of
being able to create lists that the teams need to work on. Whether it’s a
priority to work on all applications in a particular status, with a specific
risk or else specific values in fields, with this feature the solution allows
the administrator to create unlimited work lists for the teams.