Request-for-Information (RFI) process

Screening by either the Source Bank, Destination Bank or Liquidity Providers may trigger an alert against the relevant sanctions lists. In Nexus, any bank can request further information from the other bank, in the hope that the additional information will be sufficient to eliminate false matches without manual (human) intervention. This could be called during the Sanctions Screening Pre-Approval stage above, or after the final payment instruction is sent.
  • The Source Bank could send an RFI to the Destination Bank, requesting further information on the Recipient
  • The Destination Bank could send an RFI to the Source Bank, requesting further information on the Sender
  • The Liquidity Providers could send an RFI to the Source Bank and/or Destination Bank
The RFI would be able to request the standard information that is commonly used in sanctions screening, specifically:
  • Address (if not already provided)
  • Date and place of birth
  • National identity number or another unique identifier
(Other data points could be useful as well, such as the length of time that the Sender has been a customer, but not all banks will be able to provide this information in response to an API request.)
This additional information would then be used by the bank’s screening software to eliminate false matches, where possible. If the alert can be established to be a false match, the bank will then respond with its approval for the payment to go ahead.
In some cases, even the additional information will not be enough to establish that the alert is a false match. In this case, human intervention may still be required, or the bank may simply reject the payment, depending on its policies. These options are discussed in more detail in When manual intervention is still required.

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