[Case-study] 1. The flow of sign-up for a remittance by user side
The flow of sign-up for a remittance by user side
I have been researched a flow of remittance on the user side with WISE, NIUM's documents. Then a flow chart was drawn.
Step
Description
User interface design
A user fills send amount and destination currency
A user puts the sent amount and destination currency in the remittance fields. After the user fills the information out, the system requests a response of the user's wants.
Users obtain the Remittance Information Unauthenticated Quotation created
The user gets to know how much money, and what fees and exchange rates will apply. An unauthenticated quotation is created at the same time.
Unauthenticated Quotation is generated with input via parameters and is not based on a user profile. It cannot be used to create a transfer. If satisfied with the remittance amount and fees, the user might consider executing a sign-up.
Do Know Your Customer
Know Your Customer (KYC) is the first step of sign-up and the process of verifying customer information, including personal details, documents, and financial activities. It protects both financial institutions and users against fraud, corruption, money laundering and terrorist financing.
According to the success and failure of KYC, the further flow will be divided.
The methods are:
Identification validation , Liveness checks
Bank account occupancy (penny test)
Occupation disclosure and funding source disclosure
Fill the Mandatory Information into a sign-up application
After KYC succeed, here is the next step is that fill in the below information.
E-mail address for an account identification
Set password for access
Address where the user lives
Phone number the user has occupancy
Sign-up Completed
This is the status that the user can apply for cross border ramittance.
Step
Description
User interface design
A user fills send amount and destination currency
A user puts the sent amount and destination currency in the remittance fields. After the user fills the information out, the system requests a response of the user's wants.
Users obtain the Remittance Information Unauthenticated Quotation created
The user gets to know how much money, and what fees and exchange rates will apply. An unauthenticated quotation is created at the same time.
Unauthenticated Quotation is generated with input via parameters and is not based on a user profile. It cannot be used to create a transfer. If satisfied with the remittance amount and fees, the user might consider executing a sign-up.
Do Know Your Customer
Know Your Customer (KYC) is the first step of sign-up and the process of verifying customer information, including personal details, documents, and financial activities. It protects both financial institutions and users against fraud, corruption, money laundering and terrorist financing.
According to the success and failure of KYC, the further flow will be divided.
The methods are:
Identification validation , Liveness checks
Bank account occupancy (penny test)
Occupation disclosure and funding source disclosure
Fill the Mandatory Information into a sign-up application
After KYC succeed, here is the next step is that fill in the below information.
E-mail address for an account identification
Set password for access
Address where the user lives
Phone number the user has occupancy
Sign-up Completed
This is the status that the user can apply for cross border ramittance.
