Knowing the nature and purpose of the relationship helps manage risk and identify sales and service opportunities
Purpose of Relationship
Understanding the purpose of the relationship assists with determining risk, investigating transactions and ongoing monitoring
Nature of Relationship
By understanding the expected nature and purpose of the relationship we are able to refer back to compare how the customer has stated they intend to use the firm
Setting Customer Risk
Nature and purpose of the relationship will influence customer risk level and determine if additional enhanced due diligence is required
Nature and Purpose Is Essential
Connecting with customers
Customer profiling helps understand how your customer will be using your products and services and helps manage risk, improve service and increase cross sell opportunities
