Customer Alert Cases

The Customer Alert case type provides e a place to review any alerts that come up for a customer, right now specifically around the customer being added to a watchlist.

Overview

Any time a customer is accepted through KYC they will be enrolled in watchlist monitoring. This watchlist monitoring will continuously check the customer’s name against updates and additions to watchlists. If the customer is added to any watchlists, a Customer Alert case will be created with the details of which list they’ve been added to and why, with the option to review and take action on the customer and their accounts as necessary.

When to use the Customer Alert case type

The Customer Alert case type will be automatically created any time the customer is added to a watchlist. These cases will be actionable by the FinTech for review and deciding whether to freeze the customer and their accounts or if the alert is a mismatch between the customer and someone with a similar name on the watchlist. All actions and decisions made on the case will be made by the FinTech and viewable by the bank for oversight purposes.

To help decision Customer Alert cases, case system users can look at the existing customer details and compare against the details around the person on the watchlist provided on the watchlist hit, or review other available sources for corroborating information to make a decision.

What’s displayed for Customer Alert cases

Customer information

A quick overview of the customer with a link to the Customer Info page with further details about the customer, as well as a link to any accounts they currently have open.

Alert details

The details around which watchlist was hit (and a link to it), what reason there was for a match on the list, and any other available details about the list or the offense the customer committed to be added to the list.

Match field options and their meanings

Match field type	Description	Example
nameExact	Exact Name Match	Robert & Robert
nameFuzzy	Fuzzy Name Match	Jennifer & Jennifre
nameEquivalent	Name match based on the same name meaning:	Husain (حسین) & Hussein (حسین) Jacklyn & Jacqueline James & Jimmy Bank, Banque, & Banca Automovil & Automobile Vladimir Putin & Владимир Владимирович Путин
removedPersonalTitle	Partial name match due to the removal of an honorary title within the input name such as (Dr, Mr, Queen, etc.).	Dr Miles & Kevin Miles
nameInitialized	Name match based on initials	H.B. Hawala & Haji Basir Hawala
namePhonetic	Name match based on phonetic similarity	Renault & Reneaux
akaExact	Exact alias match	Joaquin Guzman & Chapo Loera
akaFuzzy	Fuzzy alias match	Joaquin Guzman & Charo Loeta
akaEquivalent	Alias match based on the same alias meaning	Peter Tobin & Pat McLaughlin
akaPhonetic	Alias name match based on phonetic similarity	Ibrahim Anis & Abraham Anees
dobExact	DOB matches year, month, and day.	1988-02-23 & 1988-02-23
dobFuzzy	DOB is within one year (+/-) from the entered DOB.	1988-02-23 & 1987-02-24 1988-02-23 & 1987 1988-02-23 & 1988-06-14 1988-02-23 & 1989-02-22
dobNotOnRecord	The source does not contain a DOB for the matched entity

Reviewing and decisioning cases

Mark Case in Review

This allows a user to move the case out of the New state so that it is clear to other case reviewers that the case has been initially viewed and is actively under review, even if a final decision is yet to be made. This can be useful in differentiating between new cases that have just been opened and cases that have had a first look or review and are awaiting further input or information before making a final decision.

Confirm Match

This closes the case and marks the watchlist hit as a valid match. Once the hit is investigated and confirmed, this is the action to take to verify the watchlist hit as valid.

Mark as Not Match 

This closes the case and marks the watchlist hit as not a match. This may be because the customer shares a similar name and other information with the person actually on the list, but is not in fact the same person. If the hit has been investigated and confirmed as not being for the same person, this is the action to take to mark the match as not valid.

Reject Customer’s KYC 

This will change the customer KYC status from its current status into ‘REJECTED’. This should likely be done for any watchlist hit that will be marked as a confirmed match. Once this action is taken the user will not longer be able to transact or open new accounts, and will appear in the system with a KYC status of ‘REJECTED’ meaning they are not a customer that business should be done with.

Freeze Customer and Related Accounts 

This will change the customer status and their related account status(es) to ‘FROZEN’ meaning the customer cannot perform any actions and the account(s) cannot perform any transactions. Take this action when confirming the watchlist hit as a match and deciding to no longer do business with the customer and to not allow them to move money on the platform or perform other actions.

Freeze Customer Account

This will change only the account status to ‘FROZEN’ meaning the account will not be able to transact, but the customer will still be able to take actions like opening a new account (unless you have marked their KYC as ‘REJECTED’).