Energy Credit Best Practices – Chapter: Information Technology http://ccro.org © Copyright 2022, CCRO. All rights reserved. 24 Figure 2: KYC/On-Boarding Workflow 3.3 Cloud Services Today most mid-to-large sized companies can realistically target 70-80% of their overall Platform to be cloud-based. The remainder of the on-premise need for an infrastructure platform typically stems from legacy, commercial-off-the-shelf (COTS) products that are of older architecture and have Get Legal Name Obtain ne documents Obtain Financial Statements Identify any other material adverse information Verify Legal Name Run a screening report Does CP exist in our system? Are the results negative (red)? Refer to Legal Setup the Counterparty Did Legal approve? YES YES NO NO KYC/Onboarding Process Flow Customer Credit line required? YES Supplier Imperfect title? YES NO YES NO Customer/ Vendor? Verify Payment Instructions Did Vendor confirm? NO YES Verify information is NO Send data to YES Initiate Credit Review for Limit/ Rating Did approve a limit? Finalize and Assign Limit YES Review Limit options with Did approve a limit? NO NO Is the info correct? YES NO Vendor Customer Vendors Upload KYC documents