Introduction to Customer Compliance

The Customer Compliance module supports the customer compliance requirements of Mexico such as customer legal ID Validations (RFC, CURP and INE) and rules for the format of Mexican addresses.

There are three types of Legal documents in Mexico: RFC, CURP and INE. They should be captured in the customer on-boarding process for individuals.

The Federal Taxpayers Registry (or RFC) is a key that requires any individual or legal entity in Mexico to perform any lawful economic activity for which they are required to pay taxes, with some exceptions. This people are called contributors.

In Mexico, the Unique Population Registration Code (CURP) is a unique 18-character alphanumeric identity code used to officially identify both residents and Mexican citizens throughout the country.

The INE issues the Voting Credential, a document that millions of people employ to identify themselves and exercise their right to vote in Mexico and abroad.

Due to regulation in Mexico, open bank has to provide in on-boarding customer process the capture and validation the Legal documents. Each legal documents has the length, pattern and algorithm code validation. They can be mandatory by the individual customer sector and need of customer information such as Names, Gender and City/Date of Birth to build the codes.

The Mexican regulation also mandates the recording of the below information while creating a customer. Some of the regulatory requirements are:

• Customer’s nationality and residence details.
• Taxpayer ID.
• Articles of incorporation for a corporate customer: Notary Name, Notary Number etc., Power of Attorney Corporate Partner
• Corporate customer classification based on society and economic sector.

This functionality allows the user to create records for the different types of customers like: new individual, business individual, corporate customers and trust.

The user can also create individual, corporate customer prospects and also stakeholders and employers records using the PERSON.ENTITY application.

Using the CUSTOMER application the following options to input, record, amend, authorize and view the customers are created.

Click here to understand the terms and abbreviations used in this functionality.