| Leasing |
Whether leasing service can be provided according given parameters or not |
System checks creditworthiness of Customer and decides if agreement can be concluded according given parameters. If decision is negative, it is sent for revision to Luminor employees and can be changed. |
| Savings & Investment |
Whether certain financial instrument is suitable to Customer or not. |
If outcome of test is that certain financial instrument is unsuitable to Customer, considering his/her knowledge, financial situation and experience in investments Customer will be warned in writing, however can still insist on buying certain financial instrument. |
| Remote customer onboarding |
Whether photo provided in personal identification document matches photo taken during remote identification session. |
If results of comparison are negative Customer is asked to visit Luminor for face-to-face identification. |
| Risk scoring |
Whether Customer is considered to carry High, Medium or Low risk of money laundering. |
Each Luminor Customer is subjected to automated scoring to estimate the money laundering risk they present to Luminor. Scoring takes into account variety of risk factors, covering transactional behavior of the Customer, their associated persons, geography, used/active products and delivery channels. Should the automated scoring system classify Customer as a high-risk customer, Customer becomes a subject to more in depth and more frequent due diligence. Such Customers are also requested to update their Know Your Customer information at least once per year. All these activities are performed because Luminor is legally required to know all its Customers and understand their business relationships with itself and their purposes, therefore we regularly review transactions of our Customers and update information we have collected about them. |
