4.72.03 - FIC Enhancements - RMCP Configuration
September 2024
Last updated
September 2024
Last updated
We’re excited to announce the introduction of customizable risk ratings, designed to enhance alignment with your independent Risk Management Control Program (RMCP).
This new feature offers a spectrum of risk levels from LOW RISK to EXTREME HIGH RISK, providing a more nuanced classification of assessment groups. With this update, you can now integrate your RMCP more effectively with Mobiloan’s client risk management tools, ensuring a tailored and precise risk evaluation process
📕Related User Guide Documentation
We’ve added standard risk assessment groups that cover all client-related data, which can be automatically assigned predefined risk ratings by Mobiloan during a FIC inquiry.
Users can now assign an integer score (1-10) to represent risk levels from Low Risk to Extremely High Risk. After generating the FIC report, these scores will be aggregated into a final FIC Rating score, clearly presented in the report.
High-risk FIC notifications are now automatically sent to selected branches for prompt action and risk management.
Low Risk: For stable, well-established scenarios with minimal potential for fraud or issues.
Medium Risk: For scenarios with some uncertainty or moderate risk, often due to less predictable or newer factors.
High Risk: For situations with significant uncertainty or a high likelihood of fraud or issues, including missing critical information or known high-risk elements.
Geographical Location: Higher risk for countries with lower financial stability or higher crime rates.
Source of Income: Medium risk for irregular or unstable sources of income.
Marital Status: Higher risk for single individuals due to potential financial instability.
Hold Status: High risk for accounts with multiple holds or flags.
Loan Purpose: High risk for purposes associated with financial distress or instability.
