CPLE/KTP is in charge of driving the transformation of the KYC (“Know Your Customer”) process within Société Générale. The department has been created in March 2018 within CPLE and aims at defining the KYC Standards for the Group and support BUs/entities in their implementation.
Aiming at providing a new simplified and industrialized KYC Standards, the initiative is structured around four pillars:
· A new Group instruction and its addendum – regulatory requirements in relation to financial crime within the Société Générale Group with addendum describing specific requirements for selected products/ geographies;
· A set of global and local minimum Standards for the Group (GMS & LAS) – the minimum KYC requirements applying to all SG entities / BUs (incl. list of documents required locally for identification and/ or verification of obtained information);
· A set of complementary tools available to support operational teams during the KYC on-boarding and review process including:
o The Rules Engine: an interactive tool gathering all the KYC standards/ requirements applicable during the due diligence,
o SG chatbot: a tool answering frequently asked questions
As part of the functional support team, the perimeter covered by activities encompass the maintenance of the KYC standards in the Rules Engine (e.g., test, update), the GMS monitoring (e.g., management of derogation, reporting) and Chatbot content update and maintenance (e.g., new questions/ answer integration).
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