Validation Process

The validation process in the Finguine application ensures the correctness of values under each data element and verifies the values of interrelated data elements. Here's an overview of the validation process:

  1. Data Completeness Validation:The process involves validating all types of data for completeness, ensuring that each data element contains the required information. Associated validation reports are generated for different source systems to facilitate data updating.

  2. Data Validation on Different Datasets: Data validations are performed on various datasets, including Account Holders, Accounts (Financial Products), and Related Parties, after data mapping of these data files.

  3. Account Data Validation:

    • Validation of account details received from different source systems, ensuring data completeness for elements such as type of account, account status, currency code, and closing balance.
    • Incorporation of FATCA-CRS Cust-id to the Account data.

  4. Related Party Data Validation:

    • Validation of Related Party details received from different source systems, ensuring data completeness for elements such as FATCA-CRS Cust-id, account_id, and relation code. The validation process ensures that the data within the Finguine application is accurate, complete, and consistent, enabling reliable financial reporting and compliance with regulatory requirements.
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