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Purpose Of Risk Score Expiration Date in KYC (Doc ID 2854733.1)

Last updated on MARCH 15, 2022

Applies to:

Oracle Financial Services Know Your Customer - Version 8.0.0 and later
Information in this document applies to any platform.

Goal

On KYC 8.0.7:

In the context of a KYC case, there are two fields: risk score expiration date and next periodic re-review date.

If the user, on Feb 4, 2022, overrides the risk score from 80 to 100 and sets the expiration date to Feb 3, 2023, what'll be the risk of the customer on Feb 4, 2023? Does KYC reset the risk of the customer back to 80, which was the value calculated previously?

The ECM User Guide says:

Risk Score Expiration Date: The user can provide a risk score expiration date which indicates that the overridden risk score for this customer is applicable as of this date.

Requirement:

- User opens a case and evaluates the risk score calculated by KYC
- After some analysis, he understands that the risk needs to be overridden but only for a certain period
- Then he goes to case context, clicks on the Edit button, and enters the following fields: Risk Score, the Next Periodic Review Date, KYC Risk Score Expiration, and Description.
- The case follows the workflow defined
- When the case is closed, the new risk score, periodic review date, and KYC risk score expiration are sent back to KYC
- From that moment until the expiration date, the risk of the customer should be the value entered in the field Risk Score of the case context. After the expiration date, the system should reset the risk score to the value calculated previously.

Solution

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In this Document
Goal
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