Banking compliance workflow for Tallyfy

Get customer due diligence right from account opening

CIP deficiencies create compliance headaches that are far harder to fix later. This workflow guides new account staff through ID verification, OFAC screening, and risk assessment so every account opening satisfies regulatory requirements upfront.

3 steps

3 fields

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Banking KYC

Run this workflow in Tallyfy

Import this template into Tallyfy and assign verification tasks to your new account staff with applicant details captured at kickoff

Configure form fields to capture ID type, OFAC screening results, beneficial ownership status, and risk rating with dropdown options for each

Track each account opening through Tallyfy with 1-hour deadlines to ensure CIP requirements are completed before the account goes live

Import this template into Tallyfy

Process steps

Collect and verify identification

1 hours from previous step

task

Ask the customer for a government-issued photo ID and record the ID type, number, issuing authority, and expiration date. Check that the photo matches the person in front of you. For business accounts, you'll also need to collect business formation documents and beneficial ownership information as required by 31 CFR 1010.230.

Form fields in this step

ID Type *

ID Verified *

Beneficial Ownership Collected (Business)

Verify SSN/TIN and run OFAC check

1 hours from previous step

task

Collect and verify the customer's Social Security Number (for individuals) or Tax ID Number (for businesses). Run the customer through OFAC sanctions screening before you proceed. Don't open accounts for anyone who appears on the SDN list. If you get a potential match, document it and explain how you resolved it.

Form fields in this step

SSN/TIN Verified *

OFAC Screening Result *

Assess customer risk and complete account opening

1 hours from previous step

task

Use what you've gathered to assign the customer an initial risk rating. Look at their occupation, expected account activity, geographic factors, and any red flags that came up. If they're rated high-risk, you'll need to conduct enhanced due diligence before moving forward. Once that's done, wrap up by completing all account opening documentation.

Form fields in this step

Risk Rating Assigned *

Account Opened Successfully *

New Account Number