A large proportion of the prospects and clients we get in conversation with from SCOPE about conducting client investigations and/or CDD checks want to know how they can integrate this into their existing processes, working methods, and/or systems. A very logical question of course and for this SCOPE has created the CDD API, but how exactly does it work?
In this article we list the different possibilities of integration. Important in this is to distinguish broadly between:
- Integrate product(components) in software In this form of integration, users work with the main software system and integrations are developed in certain places in this software with products that are part of the CDD API, such as compliance check, risk assessment, UBO research, and client monitoring.
- Integrate two systems. This involves going through a process (such as the client onboarding process), where part of the process (the client investigation & risk assessment) is performed by users in the Compliance Management Portal. After completion of the sub-process (client investigation & risk assessment), the main process continues again. In this form of integration, client data and the results of the investigation are mainly exchanged through an interface.
Integrate product(components) in software
The best examples of this type of integration are client intake or boarding processes, where the intended client is guided through a workflow/checklist where all necessary questions are asked, client data is inventoried and other necessary checks are performed. This process is designed in advance and this design also places the necessary SCOPE CDD products into the process. Examples include:
- The compliance check. At what point are you going to screen the target client against all the underlying sources like PEP, Sanction, adverse media, and the like and do you do this before you start putting together an entire opinion or only after you have put a lot of work into the client.
- Risk assessment. This cannot be performed until all the client data required for it is known but must be performed before the client is accepted and finally on the books.
- Monitoring. Putting the client on the monitor list for ongoing monitoring costs money and is something you do only after the client has signed on permanently and becomes a client.
- UBO research. If you do business with companies, then the UBO investigation is often one of the first things performed, and then go through the client investigation of the company and the UBO individuals found.
For this type of integration, the SCOPE CDD API offers all the necessary products and very good (technical) documentation. The partner or customer who will develop the integration is himself responsible for designing the integration in advance and thinking about and realizing the necessary user interface for performing and handling the integrated CDD checks.
SCOPE does have examples and can help and think along when there are questions about design and development.
The advantage of this method of integration is that the process and the system in which this is done are and remain very recognizable to the employees who have to work with them, and the products can be integrated exactly where they are needed in the process or software, and all this adds to the user-friendliness.
Integrating two systems: the Compliance Management Portal
For conducting client investigations and risk assessments, SCOPE has the Compliance Management Portal. This product offers advanced features and is suitable for use by multiple users.
Often we see in practice that the client boarding process takes place in a Back Office or CRM system such as MS CRM/Salesforce or online as part of the client website. During this boarding process, client data is inventoried, which is also required to perform the client research and risk assessment.
The first step involving integration is the creation of the client file via the CDD API in the Compliance Management Portal from the system where the boarding process takes place. Then all client data is imported into the Compliance Management Portal through this interface.
The client investigation and all underlying checks are performed within the Compliance Management Portal and the result is delivered (back) to the Back Office or CRM system via the interface in the form of the risk assessment report, conclusion, and date of determination, after which the boarding process can resume (or not if the client investigation yields a negative conclusion).
A key advantage of this method of integration is that you can use the right specialists in the area they are good at, the CDD analyst examines the client from a compliance perspective and has knowledge of and uses the Compliance Management Portal, and is also trained to correctly interpret and interpret risks.
Know more about integration
If you have read this article and have questions or would like to discuss what the possibilities are for integration within your company or environment, feel free to call, email, or text, we are happy to engage in the conversation!
