Overview

This section provides an overview of Due Diligence's purpose and functions.

Due Diligence information comprises information concerning the customer's intentions regarding the usage of services provided by the bank. The banks can assess the risk based on the information provided. These risks include identity fraud, money laundering, and terror financing.

Due diligence Microservice enables the banks to handle local regulations regarding the customer's intentions on consuming the bank's services vs. how these are consumed. Different geographies have different regulations in terms of money movement, tax rules, etc. The Due Diligence Microservice has a superset of this information and can support local regulations across different geographies.

The Due Diligence Microservice provides the following key functions:

• Financial Information
• Source of Funds
• CDD Assessments Events
• Party Intentions
• Ownership structure Details
• Party Registration Details
• Trading Details
• Economic Activities
• Asset Liability Details
• Asset Liability Types and the related Reference Data Entities

Data Model

The Due Diligence Microservice uses the NoSQL data model to manage party information. NoSQL is the standard language to manage unstructured data. A NoSQL database used to insert, update, and retrieve database records. A NoSQL database is more scalable and provides superior performance.

In the NoSQL data model, the KEY_PARTITION attribute is available to store unique records in the database.

To view the NoSQL data model of the Due Diligence Microservice and different associated entities, click here.