A summary of how an onboarding user can create a risk score
An onboarding company can create and set a risk score for a particular risk element (form is the only option for now) when creating customer risk assessments and customer risk ratings. The risk score is used to determine the risk rating of a customer for a particular product/service.
- To create a risk score, select the System tab on the left and then select Risk Score. On the Risk Score page, select the Create Risk Score button.
- When creating the Risk Score, the onboarding user add a risk score name. They must then select the risk element type that can use the risk score (For now form is the only element).
- The admin user of the onboarding company must set the different risk ranges e.g. if the admin sets the range for low risk as 1-30 and the risk score of a customer for a particular risk assessment form is 25, the customer is deemed to be low risk for this product/service.
After completing a customer risk assessment form, a risk score is applied to the form template to determine the risk score/risk rating of the customer. This will be calculated based off the answers provided only when an onboarding user starts to complete the form. Some questions will have a risk score applied to the answers if they are deemed to be important in calculating the risk score. This will vary per onboarding company. Depending on the ranges set by the onboarding user, the risk rating will be low, medium or high.