Onboarding and monitoring customers with Fraud & Transaction Monitoring issues
Understand how customers appear in the FrankieOne portal when they also have issues due to fraud or transaction monitoring.
FrankieOne allows you to check an entity for Device/Customer Characteristics issues during the registration or login process. This fraud check can happen before or after KYC is completed. If the fraud check is performed before KYC, the customer will still be able to complete onboarding. That is, fraud issues won’t prevent a customer from passing KYC.
Once an entity has passed KYC, FrankieOne can perform ongoing KYC and AML checks, as well as monitor transactions and logins for fraudulent behaviour. Issues arising from transaction monitoring can be resolved independently from issues arising from ongoing KYC and AML checks.
While fraud and transaction monitoring checks can occur at any time in the customer’s lifecycle, from before onboarding to during ongoing monitoring, the result of such checks don’t impact the customer’s ability to pass KYC processes. Hence the entity’s overall status and risk level only reflects KYC-related processes.
Customer Registration
Customers register for your application when they create an account. With FrankieOne you can check the customer or their device for potentially fraudulent behaviour during registration, even before the customer begins your onboarding process.
No issues found
If no device/customer characteristics issues are found, the customer won’t appear in the portal until they begin onboarding. The customer data will still be accessible via the API using the Retrieve Entity Details endpoint.
Teams should perform the following actions:
Device/Customer Characteristics issues found
If a Device/Customer Characteristics issue is found during registration, the customer will appear in the Fraud/AML list in the portal, where the issue can be investigated and resolved by the fraud team.
At this stage the customer’s overall status will be UNCHECKED meaning they will still be able to start and complete onboarding. That is, FrankieOne won’t prevent a customer from completing KYC if any fraud issues were found.
Teams should perform the following actions:
Customer Onboarding
Customer onboarding involves completing the KYC process and any required AML checks, such as checking PEP and sanction lists, and searching for any adverse media about the customer.
No issues found
If the customer completed onboarding and no KYC, AML or fraud issues were found, then they will appear in the Monitoring list in the FrankieOne portal.
At this stage the customer’s overall status will be PASSED.
Teams should perform the following actions:
Only KYC issues found
If the customer started onboarding and KYC and/or AML issues were found, then they will appear in the Onboarding list in the FrankieOne portal.
At this stage the customer’s overall status may be NEEDS ATTENTION or FAILED depending on the nature of the KYC issues found.
Teams should perform the following actions:
Only Device/Customer Characteristics issues found
If the customer completed onboarding and fraud issues relating to device/customer characteristics were found, then they will appear in the Fraud/AML list in the FrankieOne portal. They won’t appear in the Monitoring list until the fraud issue is resolved.
At this stage the customer’s overall status will be PASSED, indicating that they did pass all KYC-related checks. The Device/Customer Characteristics issues that were found aren’t reflected in the customer’s overall status because they don’t affect the customer’s ability to onboard.
Teams should perform the following actions:
Both KYC and Device/Customer Characteristics issues found
If the customer didn’t pass KYC and they also have fraud issues relating to device/customer characteristics, then they will appear in the Fraud/AML list in the FrankieOne portal.
They won’t appear in the Onboarding list until the fraud issue is resolved, however the entity can still be accessed directly from your system’s CRM using the onboarding entity link:
https://portal.kycaml.frankiefinancial.io/onboarding/profile/{entityId}
At this stage the customer’s overall status may be NEEDS ATTENTION or FAILED depending on the nature of the KYC issues found. Once the Device/Customer Characteristics issues are resolved, the customer’s status will remain NEEDS ATTENTION or FAILED, indicating the status of the KYC onboarding process. Once all KYC-related issues are resolved, the customer’s overall status will then become PASSED or MANUALLY PASSED.
Teams should perform the following actions:
Customer Login
Once a customer has completed onboarding, you can continue checking their login events for new customer or device characteristics that might indicate potential fraudulent activity.
No issues found
If no device/customer characteristics issues are found, the customer will remain in the Monitoring list.
At this stage the customer’s overall status will continue to be PASSED or MANUALLY PASSED.
Teams should perform the following actions:
Device/Customer Characteristics issues found
If a new Device/Customer Characteristics issue is found during login, the entity will move from the Monitoring list to the Fraud/AML list in the FrankieOne portal. Once the fraud issue is resolved, they will move back to the Monitoring list.
At all times the customer team can access the entity directly from your system’s CRM using the monitoring entity link:
https://portal.kycaml.frankiefinancial.io/monitoring/profile/{entityId}
At this stage the customer’s overall status will continue to be PASSED or MANUALLY PASSED until there is a change from ongoing KYC processes.
Teams should perform the following actions:
Transactions
Financial transactions performed by a customer can be checked for fraud and AML issues. The customer themselves and their device can also be checked for new device/customer characteristics issues during each transaction.
No issues found
If no issues for the transaction are found, the customer will remain in the Monitoring list.
At this stage the customer’s overall status will continue to be PASSED or MANUALLY PASSED until there is a change from ongoing KYC processes.
Teams should perform the following actions:
Fraud or transaction monitoring issues found
If fraud or transaction monitoring issues are found, then the entity will move from the Monitoring list to the Fraud/AML list in the FrankieOne portal. Once all fraud and transaction monitoring issues are resolved, they will move back to the Monitoring list.
At all times the customer team can access the entity directly from your system’s CRM using the monitoring entity link:
https://portal.kycaml.frankiefinancial.io/monitoring/profile/{entityId}
At this stage the customer’s overall status will continue to be PASSED or MANUALLY PASSED until there is a change from ongoing KYC processes.
Teams should perform the following actions: