Version 1.1.7.24593
Fintrac Phase 2 Enhancements
Improvements
Borrower ID Verification – Borrower Type (Person)
We have made an Enhancement to the borrower section for ID verification to capture additional data fields and to ensure a smoother audit process.
a. Government Issued Photo ID
Agents can now easily confirm the identity of an applicant or borrower with a simple click by selecting the verification method from a dropdown menu or entering the client’s data manually.
The verification options include:
- I. In Person, Live video or scanned copy of ID - Agents can 'manually' input the client’s details in the provided fields.
- II. IDV/DVS Software Services - Choose 'Request ID Verification' to select a vendor and request ID verification through their services.
- III. Request ID Verification - Agents can choose a service from the popup menu and click ‘Next’.
- IV. After a service is used a table will be displayed and the IDV report will be available for download.
b. Credit File Method
Agents can verify manually or click 'Request ID Verification' to choose a vendor for ID verification.
c. Dual Process Method
In the dual process, agents can either enter dual data or choose to request ID verification.
d. Previously Verified:
If the client has already been verified previously, agents can add additional details in the notes section, including the previous verification date.
e. Could Not Verify:
If the client could not be verified, the agent can select the "Could Not Verify" option, enter the verification attempt date and notes, and a "Not Verified" tag will appear to indicate the client’s verification status.
PSA Screening (PEP, Sanctions List & Adverse Media)
Agents can check to determine if their client is on any PEP or Sanctions list. Tags are displayed based on the Agent’s selections.
a. Screen Applicant
Clicking the "Screen Applicant" button opens a popup, where agents can select a service to screen the applicant.
b. Import
If an Agent has previously used a service, they can import that stored information to pre-fill fields within the ID Verification and PSA Screening details by clicking the "Import" button.
- I. A list of records is displayed. Choose the most recent service from the pop up displayed and click 'Next'.
- II. The system will automatically fill the required fields with the available data.
Borrower ID Verification – Borrower Type (Corporation / Entity)
Agents can verify manually or click ‘Request ID Verification’ to choose a vendor for ID verification.
Generate PDF Report In English OR French
With the Generate PDF Report button, Agents could previously generate their FINTRAC details as a PDF in their respective language. It is now possible to automatically convert those details as either a French PDF or an English PDF.
