KYC Management
Interact SSAS KYC (“Know Your Customers”) Management is used by Social Security Administrations to ensure that their customers have up to date information and comply with the government laws and regulations governing the services provided. The main objective of the KYC Management is to:

• – Ensure that all customers documentation is validated, accurate, and up to date
• – Ensure that the government laws and regulations are followed by all customers
• – Provide online and easy-to-use tools to inform the customer to update their information and documents whenever required
• – Ensure compliance of documentation required by internal and external governance
• – Ensure automatic customers’ information and documentation compliance audit
• – Mitigate and Eliminate fraud resulting from incorrect customers’ information and documentation

The framework of the KYC Management allows the user to:

• – Define Customer Groups to which the KYC Applies (i.e. Employers, Employees, Beneficiaries, Doctors, Financial Institutions, etc.)
• – Define KYC Information Segments for each Customer Group that need to be updated periodically
• – Define KYC Documents that need to be updated periodically
• – Define the KYC Update Cycle by Information Segment
• – Define the KYC Update Cycle by Document
• – Send KYC Update e-Mail to all customers
• – Let Customers submit updated KYC Information and Documents
• – Social Security Officers Review and Approve or Reject updated KYC Information and Documents
• – If KYC updated Information and Documents is approved, then KYC status will be shown as Updated, else KYC status will be shown as Pending Update
• – If KYC is not updated, then customer status will be set as Inactive, and customer cannot acquire any SSA services until the KYC is update

Figure 1: KYC Management Framework

Figure 2: KYC General Setup

The workflow of the KYC Management consists of the following processes:

• – A KYC Update Batch is generated at the end of the current KYC Period (n), for next KYC Period (n+1)
• – Once the KYC Update Batch is released, the relevant Customer Group receives a notice through an e-Mail to update their KYC records, the information segments to be updated are specific (and configurable) for each Customer Group
• – Customer logs into the system, and clicks on KYC Updates
• – System will display all KYC Updates by year, showing the last KYC that need to be updated
• – User clicks on the last KYC that is pending update
• – System will display the Information Segments that need to be updated and the user needs to then access each Information Segment and Update it and then Save the updated information
• – System will display the KYC Documents that need to be updated, customer will click on each Document and upload the updated Document and Save
• – Customer will then submit the completed/updated KYC Information Segments and KYC Documents
• – User/Customer will be notified that the updated KYC Information and Documents are submitted for Review and Approval and the system will set the KYC Status to “Under Review”
• – System will show Customer’s KYC Update as a pending activity in the Dashboard
• – Social Security Administration User will login to the system, and click on the Customer KYC Pending Activity and Review the submitted KYC Information and Document
• – Social Security Administration User then Reviews and Approves the Information and Documents or Reject the Information and Documents
• – Once approved, the KYC Status will be set as Approved, and the Customer will receive an email stating that the KYC is approved, else, if Rejected, the Customer will receive an email stating that the KYC Update is Rejected with the Reasons for the Rejection, so the customer can correct the information or complete the missing documents
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Figure 3: KYC Update Workflow

Figure 4: KYC Update Information Segments

Based on the KYC Framework in use, the Social Security Administration can select and define any number of KYC Information Segments and KYC Documents which will be linked to specific Customer Groups.  Using the Workflow of the KYC Management Module, the application can then inform the various Customer Groups of the information which needs to be updated by them so it can be done in a secure and efficient manner using online Self-Service.

Figure 5: KYC Document Definition

The KYC Management module is designed so that each Social Security Administration can configure the application to work in its own manner, to ensure compliance as per the relevant laws in force in the country.  Just like the exact Information Segments can be defined which must be maintained and kept up to date by all Customers, the system also allows for the definition of the various types of Documents which need to be kept up to date by the KYC Management module.

Figure 6: Employer Self-Service Document Update resulting from KYC Update

Employers who have submitted their KYC Update through the Self Service, will see that Documents which have been newly uploaded will be shown under Document Management also, with their current Status, indicating whether the Social Security Administration has accepted their newly submitted Document or whether it is still Pending or has been Rejected.

Figure 7: KYC Update Processing

The Social Security Administration user can manage the KYC updates which the system receives from Employers, Individuals and others by Reviewing and Approving or Rejecting them based on the data that was submitted.  Each KYC Update will display the information and documents on file for the Current Period (on the left side) and the Information Segments and Documents which need to be updated for the Next Period (on the right side).