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DocFox Glossary of Terms

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DocFox Glossary of Terms

Officer: #

A user with full access and full visibility within the DocFox system. This user is able to final Approve and Delete applications.

Inviter: #

A user with limited access and visibility within the DocFox system. This user is able to create applications, view and action items on the applications that they have created and cannot final Approve or Delete applications.

Super Inviter: #

A user with limited access and full visibility within the DocFox system. This user is able to create applications, view all applications, action items on applications but cannot final Approve or Delete applications.

Reporting Officer: #

Each Inviter/ Super Inviter has one dedicated Reporting Officer. This user is an existing Officer who will receive the ‘Ready for Approval’ email for the managing users applications. If an Inviter/ Super Inviter is the Managing User of an application then the Reporting Officer will receive the email notification.

Managing User: #

The user who either created the application or whom the application has been transferred to.

Legal/ Juristic Entity: #

Includes corporations or other non-human entities created by law and given certain legal rights. Some examples include Listed Companies, Close Corporations and Pty Ltd’s. 

Entity/ Client Type: #

The type of client that you have added to your configuration such as Natural Person; Listed Company; Minor and Close Corporation are examples of entity types.

3rd Party Data Sources: #

Data that is extracted from Home Affairs, Credit Bureaus and CIPC.

CIPC #

Companies and Intellectual Property Commission which performs the registration of Companies specifically Listed Companies, Close Corporations and Pty Ltd’s.

The Validation Process: #

When a document is uploaded onto DocFox it will go through a Validation Process whereby DocFox checks that the document meets the specific qualitative checks. Once the qualitative checks have been completed, the data is extracted from the documents and compared to the information on the Profile. The data is also compared to the information returned by the 3rd party data source. The Managing User is notified once these checks have been completed for all required documents.

Qualitative checks: #

Each document goes through a set of qualitative questions. An example of these checks include checking that the document is in full view, that it is clear and readable/ not tampered with and contains the relevant information on it depending on which document has been uploaded.

Data Extraction: #

To capture information for comparisons in DocFox,  data is extracted from the uploaded document.

Data Comparisons: #

Once the information has been extracted from the document, there is a series of comparisons that takes place to compare the information from the document to the Profile information, from the document to the 3rd party information. 

Mismatch: #

Occurs when there is an inconsistency in the data comparison. Once the Validation Process has been completed, DocFox will notify the Managing user if there are any mismatches that exist after the data comparison information has been returned. If there is a mismatch in the information then an Orange warning banner will appear. A user will still be able to Approve an application if there is a mismatch.

Pending Upload: #

An application has not been completed as there are outstanding documents to be uploaded.

Being Processed by DocFox: #

An application has not been completed as there are documents that are in the Validation process stage or the 3rd Party Data is still pending.

Ready for Review: #

An application has not been completed as there may be documents that need to be Accepted or Rejected or that the Screening, Media Articles and Risk Rating modules are still outstanding to be reviewed.

Ready for Approval: #

An application has been completed and is now ready to be Approved by an Officer.

Approved: #

An application has been completed and Approved.

Linking Document: #

A Linking Document links a person to another person, or a business to a person.

Corroborating Document: #

Corroborating Documents are supporting documents that further confirms the data provided in documents submitted for validation.

Watchlist Screening: #

DocFox’s Watchlist service provides ongoing, reliable and efficient screening of your customer against a range of international lists that could indicate potential higher risks to you and your business, including the mandated TFS list.

Media Articles / Adverse Media: #

Once you have loaded your client application, the Media search is conducted. DocFox returns up to the top 10 results and does an exact comparison of the client’s name inserted on the profile of the application. The search is done on the back of a list of keywords.

Related Party: #

Any person in a Juristic entity client who has executive control or management over a legal person.  For example, the Directors of a company, Members of a CC, Partners of a partnership, an authorised signatory or authorised representative.

Ultimate Beneficial Owner (UBO): #

A UBO is the Related Party natural person or natural persons who own a Legal Entity or exercises effective control over it. In determining the UBO, a process of elimination is applied as described in Guidance Note 7. Any sole person who owns 25% shareholding or more will be considered the UBO.

Domestic Politically Exposed Person (DPEP): #

Any person who holds, or has held, (including in an acting position for more than 6 months) any of the public roles/functions in South Africa.

Foreign Politically Exposed Person (FPEP): #

Any person who holds, or has held, any of the prominent public roles/functions outside of South Africa, i.e. in any foreign country.

Prominent Influential Person (PIP): #

Any person who holds, or has held in the previous 12 months, the position of a Chairperson of the board of directors/audit committee, Executive Officer or Chief Financial Officer of a company, if the company provides goods or services to an organ of state and the annual transactional value of the goods or services exceeds an amount determined by the Minister of Finance by notice in the Gazette. This would include companies having government contracts and tenders.

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