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Source of funds

PreviousScreening PreferencesNextAdditional document

Last updated 7 months ago

We provide our clients with the flexibility to customise risk scoring levels for Source of Funds (SOF) types to meet their specific needs. This customisation ensures that your risk management approach remains robust and compliant over time.

Initially, our system assigns a default risk level (low, medium, or high) to each source of funds type. However, recognising the diversity in compliance needs across businesses and industries, we offer the ability to customise these risk levels to match your operational context through our Verify Portal.

As an admin user, you have the flexibility to configure the risk scoring levels for each Source of Funds SOF type to match your business's risk appetite. Follow these steps to manage your SOF settings:

  1. Risk Level Configuration:

    You can set the risk level for each SOF type to low, medium, or high according to your business requirements. This ensures that your risk management approach is tailored to your specific needs.

  2. Evidence Required:

    With the evidence required toggler, you can easily decide if submitting an SOF document is mandatory or optional for mobile users. When the toggler is switched on, mobile users are required to upload the document for the SOF type to proceed further. If the toggler is off, submission is optional, allowing users to complete their SOF type without providing the document.

  3. Enable/Disable SOF Types:

    You can enable or disable specific SOF types from being displayed on the mobile app using the active toggler option. For example, if you do not want the "Savings /ISA" SOF type to appear on the mobile app, you can deactivate it by toggling the switch off.

  4. Reset to Default Settings

    If needed, you can reset all configurations to our global default settings by selecting "Reset All." This will restore the default SOF risk scoring levels initially provided.

SOF risk scoring configuration