KNOW YOUR COUNTERPARTY (KYC) TRAINING

Would you be willing to enter into a relationship or get married, WITHOUT knowing the person?

• No
• Yes, definitely
• Maybe, if I'm desperate
• Only if I'm forced to

Is it safe to enter into a business contract WITHOUT properly verifying the business or background of the Party you're contracting with?

• Yes, safe at all times
• Maybe, it depends
• Yes, but minor risks might be involved
• No, it's never safe

What is KYC?

• An online form to assess a third-party's suitability.

• Know Your Child

• A way to make sure the match is a good one.

• A procedure and background check before entering into any formalized business relationships.

Is the KYC a must in TIME?

• It depends on the size of the customer

• Mandatory for all sales transactions

• No - not applicable

• No, optional

How will KYC affect the Sales Process / Workflow?

• Integrating KYC process into sales workflow

• Not having enough time to complete the KYC form

• I don't care

• No change

Answer explanation

Will the KYC process impact sales timeline?

• No as long as we forward the KYC Form to the Customer in a timely manner

• Yes - sales will be delayed

• It depends on the customer

• Yes - sales will be expedited

When do we forward a copy of the KYC Form for Customer to complete?

• What? Need meh???

• Legal say do only we do

• Before initiating any business transaction

• After the contract or SO signed

A customer / counterparty refuses to complete our KYC Form? Should we still proceed with the deal?

• No, we should not.

• Yes, we can proceed

• Proceed and complete the KYC form later

• This deal KYC tak payah.

Why is KYC so important?

• Risk Assessment, Due Diligence and Transparency

• Reputation Management and Fostering Integrity

• Defense Mechanism

• All of the above

Who will keep the signed KYC Form?

• Client Manager

• Sales Operations Team

• Legal

• Contract Manager