CDD/EDD

Customer Due Diligence (CDD)

SIORK CDD evaluates the quality of the customer information data and suggests the alternative data point for the better CDD risk scoring algorithm. SIORK utilizes a seamless platform to integrate with the traditional bank database and provides the users the most up-to-date customer information. SIORK self identifies the high risk customer behaviors and provides the ‘true’ high risk customer from time-to-time.

On-boarding Risk Scoring (Customer Identification Program)

Rate customer risk level and identify the high risk customers based on the following criteria:

  • The types of accounts offered
  • The methods of opening accounts
  • The types of identifying information available
  • The institution's size, location, and customer base
Customer Risk Scoring (Periodic Customer Risk Review)

Periodic review and update the customer risk level by scores from below factor dimensions:

  • Geography (eg. Residential country, foreign individual/entity)
  • Customer attributes (eg. Sector, occupation)
  • Product & services
  • PEP
  • Source of fund
  • Relationship to higher risk entities
  • Client with SAR reports
  • Pending account opening
EDD Review

Score customers for the first time and alert those that are rated high risk for EDD, which links to alert workflow. Score customers when customer info changes and alert those that are rated high risk for EDD, which links to alert workflow.