What methods are available within Live AVM, when adding a new customer or editing an existing record?
Introduction:
Adverse media screening (also known as media monitoring or negative news screening) is one
important part of customer due diligence (CDD). At its most simple, adverse media screening is the process through which a customer, or prospective customer, is compared to (“screened against”) negative news and data sources. Adverse media screening allows firms to spot a potential problem before the institution becomes associated with it or allows its reputation to suffer as a result.
- First if you have the Live AVM module active as part of your subscription then you will be able to make full use of this option.
1. Manually adding a new customer or editing an existing record:
This can do done via the same method (at the same time) for when you create a record on your Screening product.
- As you would have already configured your Criteria and Categories during the implementation phase (for AVM), you will therefore have access to all of the available options in the AVM drop down section (towards the lower end of the form) as displayed below.
- When selecting the AVM Criteria drop down this will present all of the pre-built Criteria values that you have configured for this. So when this has been selected all other attributes such as AVM Country and AVM Date Range which are created as part of this will be automatically applied.
- Otherwise if you are wanting to include any additional conditions for this Customer then you can also apply options from the AVM Country and AVM Date Range drop downs, as well as Adding in further Terms or adversely the Terms that are to be Excluded under each section as needed.
- Also you can select an Action from the Screening choices in the drop down menu (as illustrated above).
2. Uploading new or existing customers using an input file:
You will also have the ability to add new or amend existing customer records using your input file uploads in the same manner that would be used for your regular Screening customers.
- To pre-select and Screen via the Live AVM option, you will need to either obtain a copy of the input file via the Export Data - Customer list in Format option, or request this from a KYC360 support team member.
- Once you have downloaded this file from the export, you should be able to see (Column R - AVMCriteriaID). This will be where you add either your pre-set Live AVM Criteria 'Name' or the 'ID' reference number.
- Once populated (along with the rest of the Screening values) as required you can then use the Upload Customers option which will import the data and not only trigger the regular screening but also for the Live AVM as expected.
