This document will continue to evolve as existing sections change and new information is added. All updates appear in the following table:
| Date | Module | Feature | Notes |
|---|---|---|---|
| 07 AUG 2023 | Regulatory Reporting | Pipeline Updates | Updated document. Delivered new feature in Release 23.5.1. |
| 11 JUL 2023 | Transaction Monitoring Customer Screening Know Your Customer Regulatory Reporting Investigation Hub |
Oracle Autonomous Transaction Processing | Updated document. Delivered new feature in Release 23.5.1. |
| 30 MAY 2023 | Regulatory Reporting | Updated document. Delivered new features in Release 23.5.1. |
|
| 26 MAY 2023 | Admin Console | Updated document. Delivered new features in Release 23.5.1. |
|
| 26 MAY 2023 | Transaction Monitoring | Updated document. Delivered new features in Release 23.5.1. | |
| 26 MAY 2023 | Case Manager | Updated document. Delivered new features in Release 23.5.1. |
|
| 26 MAY 2023 | Customer Screening | Updated document. Delivered new features in Release 23.5.1. |
|
| 26 MAY 2023 | Know Your Customer | Updated document. Delivered new features in Release 23.5.1 |
|
| 09 MAY 2023 | Created initial document. |
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Column Definitions:
Report = New or modified, Oracle-delivered, ready to run reports.
UI or Process-Based: Small Scale = These UI or process-based features are typically comprised of minor field, validation, or program changes. Therefore, the potential impact to users is minimal.
UI or Process-Based: Larger Scale* = These UI or process-based features have more complex designs. Therefore, the potential impact to users is higher.
Features Delivered Disabled = Action is needed BEFORE these features can be used by END USERS. These features are delivered disabled and you choose if and when to enable them. For example, a) new or expanded BI subject areas need to first be incorporated into reports, b) Integration is required to utilize new web services, or c) features must be assigned to user roles before they can be accessed.
| Ready for Use by End Users Reports plus Small Scale UI or Process-Based new features will have minimal user impact after an update. Therefore, customer acceptance testing should focus on the Larger Scale UI or Process-Based* new features. |
Customer Must Take Action before Use by End Users Not disruptive as action is required to make these features ready to use. As you selectively choose to leverage, you set your test and roll out timing. |
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|---|---|---|---|---|---|---|
| Feature |
Report |
UI or |
UI or |
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Financial Crime and Compliance Management
This document provides the high-level enhancements for Release 23.5.1 of Oracle FCCM Cloud Service. For more information about this product, see Documentation. Fixed issues and considerations can be found at MOS.
New scenarios have been added to allow organizations to better detect behaviors of interest.
- Early Payoff or Paydown of a Credit Product - Account Focus
- Early Payoff or Paydown of a Credit Product - Customer Focus
The payoff of a commercial loan facility, syndicated loan facility, mortgage, personal loan, or lease (all loans, loan facilities, or leases is referred to as loans) within a short period could enable an individual or business to move illegitimate funds into and out of the banking system in an apparently legitimate manner. To attempt to legitimatize funds, money launderers may look to take out a loan and, within a short period, subsequently repay a significant portion of the loan, repay the entire loan, or overpay the loan. The rapid repayment of a loan enables money launderers to receive legitimate funds from the lending institution at loan closing and repay the loan with funds that may be illegitimate or whose source is difficult to determine. Further, if the money launderer overpays the loan, a legitimate check is received from the lending institution for the overpayment.
New scenarios allow organizations to detect behaviors of interest.
Steps to Enable
Copy the newly released scenario pipeline and attach it to the Scenario batch for the changes to be reflected.
Key Resources
Credit Product Pipeline Updates
The following pipelines have been added or updated to support Credit Product monitoring.
- Load Loan Data
- Data Loading File Transfer
- Load Account Business Data to Case Management
These data pipeline enhancements allow greater monitoring of Loan product types.
Updated pipelines provide better performance and increased functionality.
Steps to Enable
- Copy the new version of the pipeline and create a new Job using similar naming conventions.
- Attach the newly created job to the appropriate existing batch task for the changes to be reflected.
- Load Loan Data (Ingestion batch task). The Out Of Box batch task name is LoanData
- Data Loading File Transfer (AMLDataLoad batch task)
- Load Account Business Data to Case Management (CMIngestion batch task)
Key Resources
The length of Address fields, such as region, state, and postal code has been increased.
The Country Code field only accepts the 3-character ISO Country Code. Clients must ensure that they pass a valid 3-character ISO country code only. If the country code is more than 3 characters, it may result in ingestion data pipeline failures.
When comparing the Address and State fields against watchlist members, the State data will be trimmed to 200 characters. Watchlist members who are State should not exceed 200 characters. Multibyte characters are not currently supported in Watchlist Members.
These updates help ensure that staging data is provided in the format expected by the user interface.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Oracle Autonomous Transaction Processing
Oracle Financial Services Crime and Compliance Management Cloud Service is now provisioned with Oracle Autonomous Transaction Processing, a fully automated database service that makes it easy for organizations to develop and deploy application workloads, regardless of complexity, scale, or criticality.
Oracle Autonomous Transaction Processing provides automated patching, upgrades, and tuning, performing all routine database maintenance tasks while the system runs.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Additional risk information is available in Customer Details. Users can now view KYC Risk Assessment scores, dates, and Sanctions Watch Lists from a customer’s profile.
Easily viewing risk information helps investigators quickly and correctly disposition cases.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
This release provides the following new or updated pipelines.
- Load Account Business Data to Case Management (CM Ingestion batch)
- Load Evented Account Data to Case Management (AMLtoCaseManagement batch)
- Load Case Data (AMLToCaseManagement, KYCToCaseManagement, and ScreeningToCaseManagement batches)
Updated pipelines provide better performance and increased functionality
Steps to Enable
If the out-of-the-box Pipeline and Batches are used, then no changes are required. However, if you have copied the pipeline or batch, or created Customized batches and provided new names for these pipelines and batches, you must follow the steps below:
- Copy the new version of the pipeline and create a new Job using similar naming conventions.
- Attach the newly created job to the appropriate existing batch for the changes to be reflected.
Key Resources
The Out of Box AMLToCaseManagement and KYCtoCase Management batches have been modified to reduce dependencies between batches.
These changes reduce batch failures.
Steps to Enable
To update the AMLToCaseManagement batch for the currentBatch parameter value, follow these steps:
- Login with an Admin user and navigate to the Define Task Screen (Batch Administration->Scheduler->Define Task)
- Select the customized AMLToCaseManagement batch.
- Search for the ECMSRTBTH Task
- Click Edit to edit the ECMSRTBTH Task.
- In the Edit Task drawer, update the currentBatch parameter value to the desired value, prefixed by AML. For example, AMLALL
- Click Save.
To update the KYCToCaseManagement batch for the currentBatch parameter value, follow these steps:
- Login with an Admin user and navigate to the Define Task Screen (Batch Administration->Scheduler->Define Task).
- Select the customized KYCToCaseManagement batch.
- Search for the ECMStartBatch Task.
- Click Edit to edit the ECMStartBatch.
- In the Edit Task drawer, update the currentBatch parameter value to desired value, prefixed by KYC. For example, KYCALL
- Click Save.
Key Resources
The Case Manager user interface UI has been updated to improve user experience and provides major performance improvements throughout the system.
In addition, the Case Manager UI has been upgraded to OJET 13 libraries for better performance and stability.
An improved UI makes investigating cases easier.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
This release introduces new Aircraft and Embargo Aircraft category values, which will help to better differentiate Aircraft data from Vessel data in the Refinitiv World-Check One and World-Check watchlists. All Aircraft currently included within the Vessel or Embargo Vessel categories will be remapped to the appropriate new category.
Distinguishing Aircraft and Embargo Aircraft from Vessel data helps ensure accurate and efficient investigations.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Customer Screening Cloud Service now uses the OpenSearch engine for matching services, replacing Elastic Search. OpenSearch is an insight engine offered as an Oracle-managed service. OpenSearch provides a highly scalable system for fast access and response to large volumes of data.
This service is owned by Oracle’s Customer Screening Cloud Service and requires no additional license.
Steps to Enable
Current CSCS customers should start the move to Open Search using the steps provided in the migration documentation. New implementations should use OpenSearch to avoid future migration.
Key Resources
To improve the user experience during L1-Alert management, this release introduces a feature that highlights the changes between Events in the same case ID. This will be applicable to a regenerated alert
An improved UI that highlights the changes in Case Events makes screening customers easier.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Oracle Autonomous Transaction Processing
Oracle Financial Services Crime and Compliance Management Cloud Service is now provisioned with Oracle Autonomous Transaction Processing, a fully automated database service that makes it easy for organizations to develop and deploy application workloads, regardless of complexity, scale, or criticality.
Oracle Autonomous Transaction Processing provides automated patching, upgrades, and tuning, performing all routine database maintenance tasks while the system runs.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Increased Coverage for Multi-Dimensional Risk Scoring
The following new Out-Of-Box transaction-based risk factors are included in this release:
- Total Cash Txn Vs Total Txn Count in last Twelve months
- Total Cash Txn Vs Total Txn Amt in last Twelve months
Increased coverage allows organizations to better detect behaviors of interest.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Behavioral Risk Indicator Enhancements
- The Behavioral Risk Indicator UI now allows users to map various transaction-based risk factors in the KYC module that can be used in business check and Algorithm-based risk scoring models.
- KYC CS now supports validation for Delete/Enable/Disable actions on Rules configured for Transaction Based Risk Factors. Any risk factor configured in the Risk Element Configuration UI is not allowed to be deleted or disabled.
- Import and Export of rules configured in the Behavioral Risk Indicator UI. This allows clients to seamlessly move configured rules from one environment (such as UAT) to another (such as Pre-Prod/Prod).
Enhanced management of behavioral-based risk factors better allows organizations to detect behaviors of interest.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Know Your Customer CS now uses the OpenSearch engine for matching services, replacing Elastic Search. OpenSearch is an insight engine offered as an Oracle-managed service. OpenSearch provides a highly scalable system for fast access and response to large volumes of data.
This service is owned by Oracle’s Customer Screening Cloud Service and requires no additional license.
Steps to Enable
Implementations that are currently using Elastic Search must migrate to OpenSearch following the steps provided in migration documentation. New implementations should use OpenSearch to avoid future migration.
Key Resources
Oracle Autonomous Transaction Processing
Oracle Financial Services Crime and Compliance Management Cloud Service is now provisioned with Oracle Autonomous Transaction Processing, a fully automated database service that makes it easy for organizations to develop and deploy application workloads, regardless of complexity, scale, or criticality.
Oracle Autonomous Transaction Processing provides automated patching, upgrades, and tuning, performing all routine database maintenance tasks while the system runs.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Term Deposit Transactions for PH STR and PH CTR
As part of the Philippines Regulatory Reporting, Term Deposit is included for CTR and STR reporting.
The following AMLC codes are considered for E-filing a term deposit:
- DTDPD
- DTDRK
- DTDYK
Eligible term deposit transactions are easily reported to Philippines Regulators in compliance with regulatory requirements.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
This release provides the following new or updated pipelines.
- PH CTR
Updated pipelines enable TD transaction functionality for PH CTR generation.
Steps to Enable
You don't need to do anything to enable this feature.
Tips And Considerations
If the out-of-the-box Pipeline and Batches are used, then no changes are required. However, if you have copied the pipeline or batch, or created Customized batches and provided new names for these pipelines and batches, you must follow the steps below:
- Copy the new version of the pipeline and create a new Job using similar naming conventions.
- Attach the newly created job to the appropriate existing batch for the changes to be reflected.
Key Resources
Oracle Autonomous Transaction Processing
Oracle Financial Services Crime and Compliance Management Cloud Service is now provisioned with Oracle Autonomous Transaction Processing, a fully automated database service that makes it easy for organizations to develop and deploy application workloads, regardless of complexity, scale, or criticality.
Oracle Autonomous Transaction Processing provides automated patching, upgrades, and tuning, performing all routine database maintenance tasks while the system runs.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
-
Download Export Dump File – You can now download the Export dump file to a local directory. You can use the Export Dump file to move the file across tenants (Dev to SIT/ Dev to UAT). For more information, refer to Downloading Export Dump Files.
-
Syncing the Export/Import Dump Files - When an object definition is imported it is automatically copied to the non-production environment and the Production environment. Then, the dump file is synced automatically between these environments. You can also sync the dump file manually. For more information, refer to Syncing Export Dump Files and Syncing Import Dump Files.
Object Migration updates help Oracle clients migrate metadata definitions between environments of separate instances seamlessly.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
- Exporting and Downloading a Report – You can now export and download a report to.CSV format, using 2 different operations. The Download operation is now enhanced to process the download asynchronously. You can also save the report to local directory with any preferred filename. For more information, refer to Exporting a Report and Downloading a Report.
- Public APIs for Exporting and Downloading Report – The Export and download operations can now be invoked using Public APIs. For more information, refer to Export API and Status API.
Using public APIs to download Canned Reports allows Oracle clients to use tools to get data from FCCM CS in an automated fashion.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
This release introduces Oracle Financial Services Investigation Hub Cloud Service, which provides case investigators with an enriched contextualized view of the case, consolidating data from multiple sources and providing graph view and ML insights to enhance the investigation experience. The purpose of this application is to help Case Analysts and Case Supervisors search, investigate, and take action on cases.
Contextualized Case Review improves the investigator experience by bringing together all pertinent information needed to analyze and make a decision on a case.
- Case View allows investigators to see event details on the case and primary entity.
- Entity View provides an ability to drill down into all information on entities in the case, including the compliance summary of previous cases and SAR files, a risk summary that includes historical risks and screening results, and a full transaction history.
- View the case in a graph with expandable nodes for greater contextual understanding.
- Investigation Hub provides templated narrative generation to help investigators create quality case narratives.
Providing case investigators with an enriched contextualized view with all pertinent information, supports efficient and accurate case analysis.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Investigation Hub enables investigators to create a dossier and summary of the relevant information within the case and tailor which information is passed to Compliance Regulatory Reporting.
Providing all pertinent case information, with a case summary, simplifies regulatory reporting without risking incomplete information.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Oracle Autonomous Transaction Processing
Oracle Financial Services Crime and Compliance Management Cloud Service is now provisioned with Oracle Autonomous Transaction Processing, a fully automated database service that makes it easy for organizations to develop and deploy application workloads, regardless of complexity, scale, or criticality.
Oracle Autonomous Transaction Processing provides automated patching, upgrades, and tuning, performing all routine database maintenance tasks while the system runs.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources