Client

The client is a leading banking service provider, shows interest to expand their customer base by online registration with Anti-Financial Risk Management.

Challenges

Client’s requirement was to develop an on-boarding process to collect data and documents needed to create a relationship and calculate the risk score of their client. They may be either a natural person (an individual) or legal person (a company). The on-boarding process requirement has to be composed with three distinct sub processes:

• Creation of a relationship
• Selection of services and validation of identities
• Data gathering and KYC (Know Your Customer)

What We Did

We suggested writing the Web API for CRUD operations. Web API can be used by banking database for synchronization with ipagoo database. Angular JS front end application uses Web API for collecting documents from customers. This solution helps the bank to calculate risk score of customers based on the documents submitted by customer. Risk score assists bank to limit the transactions made by the particular customer. On identifying duplicate validation an alert message will be send to the back office admin .This mechanism is for Financial Fraud Prevention and restricts the opening of bank account based on geolocation as a part of Anti-Financial Risk Management.

Technologies Used.

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Results

• Extends customer base for bank by relationship and beneficiary
• Helps to synchronize the ipagoo database with back office bank database.
• Duplicate validation can be identified.
• Performs Anit-Money Laundering risk assessment before opening the account.
• Account Opening Admin Panel helps to manage applications based on risk assessment efficiently.