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Know Your Customer due diligence profiling

Suggest edit Updated on September 10, 2021

A customer's KYC due diligence profile is categorized as Simplified, Standard, or Enhanced. These profiles are applied to customers based on their risk level, although there are many other factors that might influence the applicability of each of the due diligence profiles.

Simplified due diligence is a leaner version of Standard due diligence and contains fewer questions. Enhanced due diligence requires more information about the customer, therefore, more KYC questions need to be answered. Accordingly, there is a need to maintain different variances of the due diligence questionnaires based on these profiles.

The Pega KYC engine can address this use case in the following ways:

  • Creating separate KYC types for simplified and standard due diligence
  • Configuring the visibility conditions on each of the questions
  • Using due diligence profiles

The first approach creates two KYC types. Most of the contents between the two types are common. This approach doubles the number of KYC types in the system and puts an additional load on processing.

The second approach adds decision rules to many of the questions that previously were always applied. These visibility conditions on all questions are executed while loading the KYC types and when each of the questions are answered. Assuming that at least 50% more items need to be updated to have visibility conditions, this approach leads to a huge visible performance impact that the user experiences while answering the KYC questions.

The third approach enables business users to easily categorize questions by profile. The system performance is not affected in a negative way. Due diligence profiling is aimed at allowing the user to easily configure various due diligence profiles (such as SDD, EDD) and then configure the KYC questions to be applied or skipped for a due diligence profile. The solution is accomplished by implementing the following modules.

  • KYC Profile Suite - A profile suite is a collection of KYC profiles. KYC profiles display a list of grouped questions (items) that the client of the organization has to answer during onboarding or periodical screening. The user can define the different profiles that are considered in the due diligence questionnaires (for example, Simplified, Standard, and Enhanced). Profiles can be defined at global and local levels. Profiles defined at the global level are available to all the KYC types in the system; local ones are specific to the KYC type that the profile is defined in. The user is also allowed to configure additional profile definitions that can be reused by other KYC types in the system.
  • Item Configuration - The user can associate each question with one or multiple profiles, and the association follows either an inclusion or exclusion mechanism. Under inclusion, the question displays only for the selected profiles. In exclusion, the question is skipped for the selected profiles. During design time, the user is able to get a view of the questions that are applied for a given selection of profiles.
  • Runtime View - Depending on the profiles that are configured, the KYC types exhibits different views depending on the profile that is active.

Class structure and data model

Class Rule-PegaKYC-ProfilesSuite

Property

Description

pyLabel

Description (label) for profile suite.

pyPurpose

Profile suite ID. Used when referred from other rules. Along with the class that the rule belongs to (pyClassName), it makes up the rule key.

pyClassName

Name of the class that the rule applies to. Along with pyPurpose, it makes up the key of the rule (rule-resolved).

InheritanceMode

Flag that determines the inheritance mode of the profiles in the suite. It takes values (true/false), used to set .ConditionTypefor all profiles within the suite. When set to true, it sets Profile.ConditionType to Inheritence on all profiles created inside this profile suite (see PegaKYC-Data-KYCProfile).

RecalculationDataTransform

When a recalculation of the customer profile is required upon item response, this data transform reevaluates it. Consumer applications, such as Pega Client Lifecycle Management for Financial Services, can either refer to their data transforms or overwrite the data transform already configured in the KYC type.

The value of this property is mapped during profile initialization to every Profile.ProfileRecalculationSocket property (see Profiles property).

Profiles

Page list of profiles created inside this profile suite (see PegaKYC-Data-KYCProfile)

Class PegaKYC-Data-KYCProfile

Property

Description

ProfileID

ID of the profile. It can only contain letters and numbers.

pyLabel

Profile description.

ConditionType

Property that holds the list of types of conditions based on which Profile is evaluated and whether or not it is active. Its value is set from the Profiles Suite screen – field ‘Active based on’. It takes the following values:

  • Decision Table
  • Decision Tree
  • Map Value
  • When Condition
  • Inheritance

When a value is selected (except Inheritance), there is an additional field that is used for the evaluation.

If Inheritance is selected, and the profile status is active or inactive, it is passed by the consumer application instead of being evaluated with the customer information available at the KYC case.

Condition

When ConditionType is set to a value other than Inheritance, this property holds the ID of the rule that is used to evaluate whether or not the profile is active.

IsApplicable

This property is used to determine whether a profile is applicable or not within a certain KYC type. All the profiles of all the suites applicable to a KYC type are consolidated in a single list (Profiles). The system determines which of them are applicable based on their type (local profiles take precedence on global ones) and in the order of the suite list (suites that appear on the top take precedence). After the analysis, profiles that are considered applicable (for example, those that are considered in runtime) have this property set to true. Those not deemed applicable (for example, those that are not considered in runtime) have a false value.

IsActive

During runtime, the system evaluates the profile conditions of all the applicable profiles (see IsApplicable) and sets this flag to determine if the profile is active or not. The data transform that sets its value flag in runtime uses ConditionType and Condition properties to perform this evaluation. Profiles that are active are considered in the inclusion and exclusion logic of items and groups.

IsLocal

Used to flag local profiles. Local profiles are used on the KYC type screens, where users can add profiles to be used only at that particular type. It is not used on profile suit screens.

IsInUse

Temporary flag used only from the the Profile Suite screen. If set to true, the suite that the profile belongs to is used in existing KYC types. This flag is used when the Profile delete button is clicked to warn the user that the suite is actively used in existing types.

ProfileRecalculationSocket

Inherits its value from the Profile Suite property RecalculationDataTransform defined on the parent profile suite.

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