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Decision-making system

The functionality is under development and is subject to change.

Overview

Crassula introduces its innovative Decision-making system, a comprehensive solution designed to streamline the process of client verification and account opening in financial services. This system integrates client scoring, transaction monitoring, and profile screening, providing a robust approach to client verification.

Detailed Workflow

The Decision-making flow is performed as follows:

  1. Profile Creation and Data Sharing:

    1. The client's profile is created via Crassula's Web Interface. Crassula shares the applicant's documents and questionnaire with SumSub.

    2. SumSub creates an applicant profile in its system and shares the unique Applicant ID back with Crassula.

    3. Crassula shares the Applicant ID with Huntli, integrating the data across platforms for comprehensive processing.

      Client Registration

      questionnaire_web.png

      Questionnaire example

  2. Document Verification by SumSub:

    1. Once the client provides identification documents to SumSub, SumSub completes the verification process.

    2. SumSub shares the verification status and documents with Huntli for further analysis.

      An example of a custom SumSub verification level

      SumSub statistics

  3. Risk Scoring by Huntli:

    1. Huntli performs a detailed scoring process on the documents and questionnaire provided.

    2. This process is based on the rules defined by the White Label on the Huntli side, resulting in a numerical risk score and a risk level decision, such as "refuse to board".

      questionnaire_huntli.png

  4. Final Decision by White Label:

    1. The White Label is provided with scoring results in Crassula's admin panel.

    2. The White Label makes the final decision on whether to onboard the client, based on the comprehensive information provided through the system.

      Risk Level in the Admin Panel

Customizable Client Tags and Rule Application

The Crassula Decision-making system represents a significant step forward in client verification and risk management in financial services. The system improves efficiency and enhances the security and reliability of financial transactions while making the process customizable and dynamic:

  • Custom Client Tagging: The system allows the setting of custom Client Tags on Sumsub’s and Huntli’s side. These tags enable more tailored management of client profiles, for example when a special regulation must be applied.

  • Dynamic Processing by SumSub and Huntli: Both SumSub and Huntli are equipped to process these custom tags, applying specific rules that may differ from the default ones.

Use Case Example: Micro-Enterprise Compliance

Consider a micro-enterprise in Great Britain, subject to specific regulations for extra small companies. The verification flow enhanced with tagging is performed as follows:

  1. A company owner fills in the sign-up form, provides the requested documents, and fills in the KYC questionnaire.

  2. The created profile, documents, and questionnaire are shared with SumSub. According to the responses set in the questionnaire, the profile is tagged as a micro-enterprise by a White Label KYC manager.

  3. SumSub shares verification results and the micro-enterprise tag with Huntli for further analysis.

  4. Huntli processes the tag, applying verification and risk assessment rules tailored by the White Label to the unique regulatory requirements of Great Britain for micro-enterprises.

  5. The tag is shared with Crassula as well. Custom tags can be found in the client’s profile details.

  • Tags can be used for any type of custom requirements. White Label pre-configures verification and scoring rules for various use cases and a KYC manager sets the corresponding tags to profiles for custom processing.

  • Even more precise configurations can be performed based on metadata assigned to the client. Metadata can also be processed by service providers. The functionality is available for middle-ware systems with external frontend.

Click for more details on the regulation

The regulations for micro-enterprises in Great Britain are part of the broader framework for Small and Medium Enterprises (SMEs), which includes micro, small, and medium-sized businesses. The UK government has specific definitions and provisions for these categories, particularly regarding staff headcount, annual turnover, and balance sheet total.

According to the Companies Act 2006, a micro-enterprise is defined as having:

  • A staff headcount under 10,

  • An annual turnover under €2 million,

  • A balance sheet total under €2 million.

These criteria classify a business as a micro-enterprise and differentiate it from small and medium-sized businesses, which have higher thresholds in terms of staff, turnover, and balance sheet totals​​.

Additionally, the UK government is aimed at reducing the regulatory burden on smaller businesses. Micro-enterprises need to be aware of these changes, as they can significantly affect compliance and operational procedures​​.

For a micro-enterprise company in Great Britain, especially one classified as extra small, it is crucial to stay informed about these regulations and benefit from the available relief schemes and tax benefits. These provisions are designed to support the growth and sustainability of small businesses, which are a vital part of the UK economy.

Client data updates

The following fields of existing client profiles are automatically shared with Huntli when updated in Crassula:

Person and Company

CODE
    'type' (PersonInd, PersonIndText)
    'createdAt' (ClRegDate)
    'language' (Language)
    'email' (E-Mail)
    'phone' (Phone)
    'verificationStatus' (ClStatus)
    'legalAddress.countryCode' (ClCounCode)
    'legalAddress.addressLine1' (ClAddr)
    'legalAddress.addressLine2 (ClAddr) 
    'legalAddress.city' (ClCity)
    'legalAddress.postalCode (ClZip)

Company

CODE
    'name' (name, ClName)
    'businessType' (BusinessSegment)
    'registrationNumber' (Company Registration Number)
    'incorporationDate' (Company Registration Date)

Person

CODE
    'firstName' (name, ClName)
    'lastName' (name, ClName)
    'birthdate' (customerAge = birthday - now)

Reference

Huntli Guide: Huntli-Documentation-v1.8.pdf
Huntli System Overview and video guides: https://www.loom.com/share/folder/5e5349db486e4aa8a9fcadd433b4f95d?provider=slack-openid-connect
SumSub guides: https://docs.sumsub.com/

In case of urgent questions, create an internal request. See How to create a request for details.

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