What's New

Release 24.5.1

Revision History

This document will continue to evolve as existing sections change and new information is added. All updates appear in the following table:

Overview

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Feature Summary

Financial Crime and Compliance Management

This document provides the high-level enhancements for Release 24.05.01 of Oracle FCCM Cloud Service. For more information about this product, see product Documentation. Known Issues and Maintenance Pack information can be found at My Oracle Support.

Transaction Monitoring

Transaction Sources

By default, scenarios can be configured to be run against a particular type of transaction (such as wire, MI, or cash) or a particular product type (such as EFT-SWIFT, EFT-ACH). For clients who wish to specify more granular transaction sources, this release supports loading client-specified transaction codes and provides the ability to filter through the Transaction Codes filter.

For OOB scenarios, this filter is not included by default. You can include this filter as part of the HLD widget in the scenario pipeline.

To support this functionality, the Load Transaction Data and Derive External Entities and Risk data pipeline has been updated, to add the V_TRXN_TYPE4_CD column to the FCC_TRXN table. In addition, the AMLTransactionSourcesDataLoad batch has been added which loads data into metadata tables that serve as transaction codes in the high-level dataset (HLD).

Increased granularity allows organizations to better detect behaviors of interest.

Steps to Enable

• •  

• Copy the new version of the Load Transaction Data and Derive External Entities and Risk data 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.

• Populate the FCC_TRXN.V_TRXN_TYPE4_CD of the DIM_TRANS_CODE and DIM_TRANS_CODE_MLS tables with the transaction codes required for your implementation.

• Run the AMLTransactionSourcesDataLoad batch to load the client-specified transaction codes.

• In the HLD widget of the scenario pipeline, configure the Transaction Code from the List of Filters.

Key Resources

• Transaction Monitoring CS Documentation

Updated Scenarios

The following scenarios were updated to support detecting behaviors of interest occurring in cash transactions:

• Hub and Spoke - Customer Focus
• CIB: High Risk Geography Activity – Account Focus
• High Risk Geography- Account Focus

Updates were made to existing scenarios to reduce differences between on-premise and cloud scenarios to simplify migration.

• Hub and Spoke - Customer Focus
• CIB High Risk Geography Activity - Account Focus
• High Risk Geography - Account Focus
• Large Reportable Transaction - Customer Focus

Increased coverage of transaction types allows financial institutions to better detect behaviors of interest.

Steps to Enable

1. Copy the updated scenario pipeline and create a new Job using similar naming conventions.
2. Attach the newly created job to the existing TMScenario batch for the changes to be reflected.

Key Resources

• Transaction Monitoring CS Documentation

Know Your Customer

Bulk upload of Look Up Score values under scoring widgets via CSV File

KYC allows users to perform bulk upload of “Look up Scores” for multiple values for a Risk Element/Parameter (like Country of residence, Occupation, Industry etc.) under both the Algorithmic and Business Check scoring widgets. Users can export and import csv files with look up scores for each risk element.

This helps avoid manual inputs of the  look up score for each distinct value of a risk element and thereby optimize overall productivity & user experience.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• KYC CS Documentation

PDF Export for Risk Assessment Details

KYC supports PDF exporting for both prospect and customer risk assessment. Users can export risk assessment details by clicking on the PDF Export icon in the Prospect and Customer Risk Assessment UIs. The exported PDF contains key risk assessment details including risk assessment ID, party details, and the highlights for risk assessment (namely all rule names and their scores).

This feature will help KYC compliance teams share important risk assessment details with internal/external audit teams as required.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• KYC CS Documentation

Add Custom Risk Indicators

Clients can now add custom risk indicators for risk assessment as part of KYC continuous monitoring. This is available via integration with data model extension service which allows clients to extend staging layer data tables (such as, customer, or account) with custom attributes as required using a configuration UI. In addition, KYC provides a new “Custom Risk Indicator” configuration UI to consume and process these extended custom attributes, create specific custom risk indicators based on client’s requirements and incorporate the custom risk indicators into KYC risk assessment policy under KYC scoring widgets.

This powerful feature provides seamless self-service capability to add new risk indicators without requiring code changes.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• KYC CS Documentation

Pipeline Updates for Party Identification Documents

In this release, the STG_CUSTOMER_IDENTIFCTN_DOC table has been replaced with the STG_PARTY_IDENTIFICATION_DOC table. Existing customers must load data to the new table. 

To accommodate the change, the following pipelines have been updated:

• Load Customer Staging Data
• Data Loading File Transfer
• Load Customer Add On Data

The V_CUST_TYPE_CD column is now nullable in the following tables: 

• FCC_CUST_ID_DOC
• FCC_KYC_P_CUST_ID_DOC
• FCC_CM_CASE_CUST_ID_DOC
• FCC_CM_CASE_CUST_ID_DOC_AUDIT
• FCC_CM_CUST_ID_DOC_EV

These pipeline updates provide greater integration with other Oracle Cloud products. 

Steps to Enable

For new customers, no changes are required to Out-of-Box pipelines. 

Existing customers must load data to STG_PARTY_IDENTIFICATION_DOC by updating their pipelines using these steps:

• Load Customer Staging Data: Replace the STG CUSTOMER_IDENTIFCTN_DOC table widget with the STG_PARTY_IDENTIFICATION_DOC table widget. The template for this table is STG_PARTY_INDENTIFICATION_DOC.csv

• Data Loading File Transfer:: Replace the STG CUSTOMER_IDENTIFCTN_DOC table widget with the STG_PARTY_IDENTIFICATION_DOC table widget. The template for this table is STG_PARTY_INDENTIFICATION_DOC.csv

• Load Customer Add On Data: Replace the Stage Customer ID Documents dataset with the Stage Party ID Documents dataset and modify the Customer ID Documents persist widget to incorporate this dataset. Then, map all columns of the Stage Party ID Documents table (excluding the V_CUST_TYPE_CD column) to the KYC Customer ID Doc table. 

Key Resources

• KYC CS Documentation

Customer Screening

314a Transaction Screening

This release supports 314a transaction screening.

The following new pipelines have been added to support 314a transaction screening.

• Transactions External Entities Full Load
• External Entities 314A Transactions Batch Screening

The following new batches have been added to support 314a transaction screening.

• ExternalEntityTransactionsFullLoad: This batch loads the External Entities which participated in any transaction during the specified (configurable) time frame.

• ExternalEntities314ATransactionsBatchScreening: This batch runs the 314a matching rules for the External Entities which participated in any transaction during the specified time frame. This screening creates alerts for External Entities loaded from the ExternalEntityTransactionsFullLoad batch.

Increased coverage allows organizations to obtain more accurate and comprehensive matches.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• Customer Screening CS Documentation

Matching Updates

This release introduces backend configuration for Date Matching, providing flexibility to configure year matching logic from a hard coded value of +/- 5 years to user defined range as a customization.

WorldCheck subcategory updates: The State Owned Entity sub-category was discontinued and split into SOE N, SN, and L (National, Sub National and Local). The enhancement ensures that all the records are mapped correctly for PEP screening.

More accurate matching provides investigators with greater insight.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• Customer Screening CS Documentation

Pipeline Updates

Pipelines in this release have been updated

Updated pipelines provide better performance and increased functionality.

Steps to Enable

After upgrading to the 24.05.01 Release, it is mandatory to resave the Out-Of-Box Pipelines if they are used for batch execution from pipeline designer. Follow these steps to resave the pipeline.

1. Navigate to the Pipeline Designer page.
2. Click the name of the pipeline that you want to configure. The pipeline opens in the Pipeline Designer page.
3. Zoom in or Zoom out in the designer and click Save.

Key Resources

• Pipeline Designer Documentation

Transaction Filtering

Object Migration Updates

You can now use Oracle's Object Migration Utility to export and import objects related to Transaction Filtering's SWIFT, Fedwire, and ISO20022 Admin Configuration screens.

This feature provides enhanced configurability.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• Customer Screening CS Documentation

Investigation Hub

Configurable Workflows

Admin users can define new statuses, actions, action reasons, and workflow steps directly within the UI.   These workflows can also be mapped to a case type(s).

Customized workflows allow investigators to adhere to policies and procedures specific to your organization.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• Investigation Hub CS Documentation

Support of New Case Types

In this release, Investigation Hub has added support for the following case types:

• Know Your Customer Case Type: Which includes customer risk ratings, integration with Quantifind for adverse media scans, and insight into related parties.

• 314(a) Transactions (Customer Screening) Case Type: Which enables the screening of transaction counterparties / external entities against the 314(a) watchlist.

• Real-Time Customer Screening: Prospect details can be submitted for customer screening, and the results can be used to create a Customer Screening case.

Enhanced coverage of additional case types allows you to more efficiently investigate your cases.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• Investigation Hub CS Documentation

Correlation Rules & Case Designer

Users can use jurisdiction to further refine correlation rules, which are used to define the conditions upon which a case would be generated.  Leveraging the case designer, these correlation rules can be mapped to case types, and new case types can be defined.

Creating customized cases based on correlation rules allows your organization to adhere to policies and procedures specific to your organization.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

Investigation Hub CS Documentation

Key Resources

• Investigation Hub CS Documentation

Regulatory Reporting

Monitoring Loan Transaction for PH CTR

Users now possess the ability to supervise Loan Transactions for CTR reporting. Loan transactions consist of two components: one linked to the Loan itself, and the other tied to the Offset CASA account. CTRs can only be generated for the loan transaction within the CASA leg.

The client is required to provide a Transaction Receipt number to distinguish between the legs of both Loan transactions and their corresponding CASA transactions. This receipt number will remain consistent for both legs and can be retrieved from the STG_LOAN_CONTRACT_TXNS and STG_CASA_TXNS tables.

Increased coverage allows organizations to better meet regulatory requirements.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• Regulatory Reporting CS Documentation

Integration between OnPrem ECM and Cloud CRR (US-SAR)

Users will now have the capability to submit the US SAR report through the CRR CS Cloud using the OnPrem ECM application. This functionality will also enable the transmission of report status and feedback from the US SAR Cloud application to the On-Prem ECM application.

The OnPrem ECM batch service will retrieve the most recent updates from CRR CS cloud reports to synchronize the status between OnPrem ECM and CRR CS.

Supporting Oracle's on-prem ECM allows clients to integrate Oracle CRR CS with their existing case management system.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• Regulatory Reporting CS Documentation

Rejecting Reports from an E-File in USSAR

This feature allows users to reject reports from an E-File at any point in time before completing the SAR process. For reports that are not rejected, a new E-File is regenerated. If the acknowledgment file is already uploaded, you can complete the SAR process of the regenerated E-File by clicking Complete SAR Process. This can be achieved in SDTM mode as well.

This feature helps improve efficiency and accuracy during your reporting process.

Steps to Enable

You don't need to do anything to enable this feature.

Splitting E-File Size in USSAR

This feature allows users to automatically divide the E-File if it surpasses 60 MB or users can reduce the number of report selections prior to generating the E-File.

Reducing E-file size makes it easier to submit these reports.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

• Regulatory Reporting CS Documentation

Pipeline Updates

The following data pipelines have been updated in this release.

• Load Evented Data to PH CTR
• PH CTR

The updated pipelines provide loan functionality.

Steps to Enable

1. Copy the new version of the Load Evented Data to PH CTR pipeline and create a new Job using similar naming conventions.
2. Attach the newly created job to the existing PHCTRDataLoad batch for the changes to be reflected.
3. Copy the new version of the PH CTR pipeline and create a new Job using similar naming conventions.
4. Attach the newly created job to the existing PHCTRScenario_Daily batch for the changes to be reflected.

Key Resources

• Regulatory Reporting CS Documentation