This section provides a guide on how to perform operations pertaining to CUSTOMER SECTOR TIERS on the Planet, with step-by-step instructions and pictures.
A customer sector refers to a segment or group of customers classified based on similar characteristics in specific ways such as ownership, industry, occupation, etc. Customer sub sectors are further classifications of customer sector indicating the different sections of a sector having a specific characteristic. An example of a customer sector is public sector and sub-sectors of the public sector include federal government, state government, local government, etc.
During the process of opening an account, the occupation of the financial institution’s prospective customer determines which sector and sub-sector the customer’s account will be categorized into. Each customer sub-sector has a code referred to as ‘Sub-sector code’. On the compliance planet, customer sector is also referred to as the ‘Customer Tier’
CUSTOMER SECTOR TIER OPERATIONS
This data control feature provides a list of customer sectors and their sub sector tier tags. The customer sector is a section in the AML/CFT RBS report. Here, the operations are;
● Editing a customer sector-subsector tier tag
● Deleting a customer sector-subsector tier tag, and
● Creating a customer sector-subsector tier tag
