Introduction
The Segments’ feature within the system facilitates some of the most powerful aspects of the platform, such as reporting, rules-based information, collection of data/reporting and hyper-specific division of the client base for various purposes.
A segment is functionally a subset of the entities within the system database. For example, a segment named All Companies Registered in Malta will usually be a segment that includes all companies in the database with a registered address where the country is set to Malta.
Module Overview
When the system is initially configured, segments are created based on user input during the onboarding and configuration process.
These segments are then used to set up rules attached to the following:
- Custom Fields
- Document Types
- Related Country Types
- Reporting
- ID Attachment
- Custom Tasks
- Search Profiles
Once configured, segments will work autonomously and need little in the way of maintenance. However, administrators can update/create/remove segments as required.
In some cases, segments are also used to define risk scores to be considered for risk assessment purposes, as segments can be used to provide specific risk scorings.
N.B. This is always the case for environments that are not using simplified rules.
Segments are fully customizable and can be updated as required to meet users ongoing needs. This can be done from the User end or from InScope-AML end.
Segments as rules
In all cases all entities within the system will fall into at least one segment, however, it is more likely that numerous segments will simultaneously apply to any given entity, based on the information associated to the entity profile.
The most common use of segments is for rules-based actions, such as the following:
- Custom fields that are required in specific circumstances. E.g. PEP connection information.
- Service-related tasks such as annual returns or VAT return dates.
- Related country types that apply to a specific entity, such as SOW countries for UBOs or Serviced Individuals, or countries of operation for Serviced Companies.
- Document types that need to be collected in different circumstances, such as Corporate or Individual CDD.
- ID Attachment rules, which dictate for whom ID documents need to be collected.
- Search Profiles that dictate what kind of external search needs to be carried out for each entity.
Segments as reports
Segments can also be used to pull reports on all entities that fall into the segment, which can be very useful for one-off or extremely specific reports which are not already included in the system’s reporting feature.
For example, in the case that a user requires a list of all clients that were onboarded in the previous calendar year and have KYC documents outstanding, a segment can be created to capture this information and a report can be generated and exported to Excel.
Simplified Rules vs. Non-simplified rules
As explained here, in the older version of the system, the configuration of risk scores is based on segments. However, newer environments are set up using simplified rules.
There are a number of differences and benefits to having simplified rules, however, the most relevant to this topic is the automation of segment creation and alteration.
For example, if a user has a custom field for Client Industry, with 10 options, each option may be associated with a risk score individually via the custom field configuration, as opposed to creating a segment for each answer that requires a risk score.
If the environment does not use simplified rules, a segment must be created manually for each of these ten options and when adding an additional option to the custom field, this must be followed up with the creation of a segment, otherwise, this option will not affect the Client Risk Assessment.
On the other hand, with simplified rules, the system will take input from various areas and create the necessary segments automatically.
Segments will be created automatically for the following when using simplified rules:
- New /updated custom fields
- New/updated custom field options
- New/updated services
- New/updated country categories
In terms of segments, the major difference for non-simplified rules is that the system will not create these segments automatically in any of these scenarios.
However, for complex segments or segments to be used for reporting, users will still need to create such segments manually. A guide on creating segments can be found here.
Configuration Options
When users are configuring or creating segments, it is important to understand where the segment applies. This can include both rules and risk scoring, which can have far-reaching effects across the system.
Care should be taken when altering existing segments, particularly when there is a risk score assigned to them as, once a segment definition is updated, the system may cause a number of entities to come up for risk assessment immediately.
Users should review the following resources prior to attempting any changes:
If any further support regarding altering an existing segment is required, please contact support at support@inscope-aml.com.
Permissions
Only users with System Administrator permission can interact with Segments. More information on permissions can be found here.