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 |
|---|---|---|---|
| 29 AUG 2023 | Transaction Monitoring | Pipeline Updates | Updated document. Provided additional resources. |
| 28 AUG 2023 | Transaction Monitoring | Updated document. Provided greater clarity for insurance product scenario pipelines. | |
| 25 AUG 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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Deployment Initiation – Support for Customer Slicing & Risk Assessment |
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Financial Crime and Compliance Management
This document provides the high-level enhancements for Release 23.8.1 of Oracle FCCM Cloud Service. For more information about this product, see product Documentation. Known Issues and Maintenance Pack information can be found at MOS.
New scenarios have been added to allow organizations to better detect behaviors of interest.
- Hub and Spoke - External Entity Focus: This scenario targets one of the typical behaviors of the placement stage of money laundering, where illegally obtained money from various sources is collected at one place and then disbursed for the purpose of layering. The scenario monitors the activity where funds are funneled into the accounts of one beneficiary from many originators or funds are transferred out by one originator to many beneficiaries.
- Early Closure of Term Account - Account Focus: One method of laundering money through bank products is to open a Term Deposit account with “dirty” money and then soon thereafter (within two years) cancel or close the account and receive funds back from the financial institution. The scenario can take into account the account balance or net worth at the time of closure of cancellation.
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
Insurance Product Pipeline Updates
The following pipelines have been added or updated to support Insurance Product monitoring.
- Data Loading File Transfer (data pipeline)
- Load Insurance Staging Data (data pipeline)
- Load Insurance Data (data pipeline)
- Policies with Large Early Removal - Customer Focus (scenario pipeline)
- Insurance Policies with Refunds - Customer Focus (scenario pipeline)
NOTE: Disposition of cases associated with insurance scenarios is not supported in this release.
These data pipeline enhancements allow greater monitoring of Insurance 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 existing Ingestion batch task for the changes to be reflected.
Key Resources
The following existing scenarios have been updated to accept Auto Bill Payment and Payroll-Reduction Transaction Types:
- CIB Product Utilization Shift - Account Focus
- CIB Significant Change from Previous Peak Activity Account Focus
- CIB Significant Change from Previous Average Activity - Account Focus
- CIB High Risk Geography Activity - Account Focus
- CIB Foreign Activity - Account Focus
Increased coverage allows organizations to better detect behaviors of interest.
Steps to Enable
Copy the updated scenario pipeline and attach it to the existing Ingestion batch for the changes to be reflected.
Key Resources
The following data pipelines have been updated in this release:
- Load Transaction Data and Derive External Entities and Risk: This pipeline has been updated to differentiate between EST-BO and EST-FO transaction product types. The product expects the code to be EST-FO for Front Office transactions and EST-BO for back-office transactions, However, if the the code is given only as "EST" the product will treat the product type as back-office transaction.
- Load Loan Data: This pipeline has been updated to fetch only the Latest Loan Records to display in the UI.
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 existing Ingestion batch for the changes to be reflected.
Key Resources
The Oracle FCCM Transaction Monitoring Cloud Service Data Model has been updated in this release in the following ways:
- In the FCC_ACCT_BAL table, the N_INIT_DEPST_BASE_AM column has been added.
- In the FCC_AM_EVENTS table, the N_THRESHOLD ID has been added.
- In the FCC_ACCT_DIM table, the V_ACCT_TYPE_CD column has been updated to accept client-given Account Type Code Values.
- In the FCC_TRXN table, accepted values for the V_TRXN_PURP_CD and V_MANTAS_TXN_PROD_TYPE_CD columns have been updated.
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
Enhanced Transaction Monitoring Event Details
When investigating Transaction Monitoring (TM) cases, details of the thresholds that were referred to generate an event are now displayed in the Event List of the case.
This helps investigators determine how much the alert attributes exceed threshold values. This information can also be used to tune threshold values for scenarios where threshold values are set very low compared to actual transaction values.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Case Manager has been updated to provide greater support for third-party systems when creating Transaction Monitoring (TM) cases in CMCS.
Additional methods of creating Transaction Monitoring cases allow organizations to better utilize CMCS.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
This release provides the following updated pipelines, to support capturing Insurance-related data for Insurance scenarios
- Load Account Business Data to Case Management
- Load Evented Account Data to Case Management
- Load Case Data
Updated pipelines provide better performance and support increased functionality
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
The Case Manager user interface UI has been updated to improve user experience and provides major performance improvements throughout the system.
An improved UI makes investigating cases easier.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
G-Cash Transactions for PH CTR and PH STR Reporting
The G-Cash mobile payments application generates G-cash accounts, which can now be monitored as CASA accounts in the PH CTR and PH STR applications. G-Cash transactions are now available with other CASA transactions in the PH CTR and PH STR applications.
Monitoring the increasingly different ways money can be exchanged provides greater insight into potentially suspicious transactions.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Bill- Payment Transactions for PH CTR and PH STR Reporting
Bill Payment transactions are used to make payments, such as utility bill payments, online booking, and so on. These transactions are now available to include with other transactions in the PH CTR and PH STR applications.
Monitoring the increasingly different ways money can be exchanged provides greater insight into potentially suspicious transactions.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
This release provides the following updated pipeline, to enable transactions for G-Cash and Bill Payment functionality for PH CTR generation.
- PH CTR
Updated pipelines provide better performance and support increased functionality.
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
To improve the batch processing execution, this release introduces Parallel Execution of Customer Screening Batches so that multiple batches can get executed concurrently without waiting to complete the previous batch.
Improved batch execution allows for greater performance.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Customer Screening now allows Event details, Case details, Match details (Customer/Candidate and Watchlist), and screening results to be exported.
Easily exporting essential details helps users document their investigation and provides clarity when auditing.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
The Customer Screening user interface has been enhanced to display the Watchlist Name and Alias Name in the Case Investigation, Event List, Create/Save View, Advanced Search, and Relationship tab) so that users can make better case decisions.
Additional information and an improved UI make investigations more comprehensive.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
A new pre-defined report for customer screening cases with event details allows users to extract a comprehensive report on CS cases.
Comprehensive reporting provides greater clarity and insight.
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-the-box risk factors are included for Real-time KYC Onboarding risk assessment:
- Customer Segment - Refers to the customer segment for the applicant (for example, Retail Banking - Individual, Priority Banking, SME, Corporate Banking, Wealth Management and so on).
- Expected to Transact with High Risk Country - Indicates if the applicant is expected to transact with a pre-defined high-risk country.
- Stated Total Annual Turnover - Total declared turnover amount for a legal entity.
- Stated Annual Proportion of Cash Transaction - Percentage Value indicating the proportion of annual cash transaction amount compared to overall annual transaction amount (e.g. 25%, 40% etc.).
- Is National of Sanctioned Country- Indicates if primary or any of the secondary applicant is national of a Sanctioned country.
- Region Company Is Licensed To Operate In - Value indicating where the company is licensed to operate in a jurisdiction (like Special Economic Zone, Main land).
- Is Linked to related party who is PEP - Indicates if any of the related applicants are a PEP.
- Stated Total Annual Income Base - Total declared turnover amount for an individual.
- PEP - Indicates if the applicant is a PEP.
A new, out-of-box transaction-based risk factor is included for KYC Batch/Continuous Monitoring risk assessment:
- Wire Transfer from High Risk Jurisdiction – Refers to total number of incoming or outgoing cross border wire transfers to high risk countries.
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
Deployment Initiation – Support for Customer Slicing & Risk Assessment
Deployment Initiation refers to first-time risk assessment of all existing customers of the bank on Day 0 before the KYC application goes live. For clients with a large customer base, this feature allows the financial institution to divide the customer base into multiple slices and then perform the risk assessment in sequence.
A new Customer Data Slice page is added in Master Data, which allows users to create or edit slices as required.
This helps achieve improved performance and stability.
Steps to Enable
You don't need to do anything to enable this feature.
Tips And Considerations
- Customers are divided into multiple slices. The KYCDeploymentInitiation batch can be run for all slices of customers sequentially.
- A new task, SlicingCompletionUpdate, is added at the end of the batch to mark the completion of specific slice execution.
- A new Purge batch, PurgeCustomerSlicing, is added to purge the customer slicing done for a given application.
Key Resources
The Investigation Hub user interface has been enhanced to include the following new features:
- You can now view additional transaction details in a side panel when selecting a transaction from one of the transaction list views.
- It is now possible to edit case attributes such as title, due date and priority.
- Enhanced narrative templates and additional substitution variables have been added.
These enhancements provide users with a more complete perspective of the investigation.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Audit capabilities have been enhanced to show previous changes when making status, assignment, and attachment changes. A full audit trail for all the actions taken on the case is available.
Providing an audit trail for prior actions taken on a case helps institutions meet regulatory requirements and assists with system troubleshooting.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Cases are created for investigating business entities involved in potentially suspicious events. If there is a need for investigation on an entity for which there are no open cases, users can now create a case manually and proceed with the investigation.
Allowing cases to be manually created means investigators can conduct more thorough investigations of potentially suspicious activity.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources
Transactions can be added to cases.
This is useful when an Investigator wants to perform a comprehensive analysis of transactions associated with the selected case.
Steps to Enable
You don't need to do anything to enable this feature.
Key Resources