One of the parameters that is set for each field
is the Risk Category (Scoring Group in KYCP CLM). This setting allows the system to associate any risk deriving from this field to the respective Risk Category. If there is a value in the respective field that is associated
to a risk value, it will contribute towards the overall risk category
. There is
no limit to the number of risk categories that one can add to KYC Portal CLM.
Separate from the standard categories such as Geographical, Customer and
Screening we have seen use cases whereby new categories such as ESG
have been added to the overall matrix.
This new feature allows for an easier way to
manage such categories as well as the ability to quickly reference all the
fields in the solution that are contributing to this category in question. The
new module that can be found in the main menu of the solution (based on the
user having the necessary right to access it) will show all the created Risk
Categories. Next to each category the new module shows all the fields that are
contributing to the overall risk of this category. This module enables the
creation of new categories to be used within fields when associating risk.