+44 (0) 330 321 0101 letstalk@fullcircl.com Support Training

FullCircl Glossary

This glossary covers many of the common terms associated with finance institutions, the client onboarding process and financial terms you might find on a typical company profile within FullCircl.

A

Actionable Insights

Anti-Bribery and Corruption (ABC)

Anti-Money Laundering (AML) Checks

Application Programming Interface (API)

Association of British Insurers (ABI)

Association of Certified Anti-Money Laundering Specialists (ACAMS)

B

Beneficial Owner (Ultimate Beneficial Owner)

Borrowing Ratio

British Insurance Brokers Association (BIBA)

Business Information Graph (B.I.G™)

D

Data Conflation

Data Driven Architecture

Data Processing Officer (DPO)

Decision Engine

Defence Against Money Laundering (DAML)

Digital Transformation

Directors and Officers Insurance

E

Earnings Before Interest and Tax (EBIT)

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)

Electronic Know Your Customer (eKYC)

Employers Liability Insurance (EL)

Enhanced Due Diligence (EDD)

F

Financial Action Task Force (FATF)

Financial Conduct Authority (FCA)

Financial Intelligence Unit (FIU)

Fraud and Anti-Money Laundering (FRAML)

G

Gazette Notices

General Data Protection Regulation (GDPR)

Governance, Risk and Compliance (GRC)

H

His Majesty’s Treasury (HM Treasury)

I

Identity Verification (ID&V)

Intangible Fixed Assets

International Corruption Unit (ICU)

Issued Share Capital

J

Joint Money Laundering Steering Group (JMLSG)

K

Know Your Business (KYB)

Know Your Customer (KYC)

L

Low-Code / No-Code

M

Fifth EU Money Laundering Directive (5MLD / AMLD5)

Fourth EU Money Laundering Directive (4MLD / AMLD4)

Management Liability Policy (MLP)

Money Laundering (ML)

Money Laundering Reporting Officer (MLRO)

Sixth EU Money Laundering Directive (6MLD / AMLD6)

N

National Crime Agency (NCA)

Net Revenue Retention (NRR)

Next-Best Action

O

Office of Foreign Assets Control (OFAC)

Operating Profit

Own Risk and Solvency Assessment (ORSA)

P

Payment Services Directive 2 (PSD2)

Person of Significant Control (PSC)

Politically Exposed Person (PEP)

Prudential Regulation Authority (PRA)

R

Ranking Heuristics

Reputationally Exposed Person (REP)

Retained Earnings

Risk Management

Risk-Based Approach (RBA)

S

Sanction Designated National (SDN)

Shareholder Equity

Small Payment Institution (SPI)

Software as a Service (SaaS)

State Invested Enterprise (SIE)

Straight-Through Processing (STP)

Structured Finance

Suspicious Activity Report (SAR)

T

Tangible Fixed Assets

Terrorist Financing (TF)

Trade-Based Money Laundering (TBML)

Transaction Monitoring (TM)

Transaction Screening (TS)

Trust or Company Service Provider (TCSP)

U

Ultimate Beneficial Ownership (UBO)

United Nations Act (UNA)

United Nations Convention against Corruption (UNCAC)

United Nations Security Council (UNSC)

Unstructured Data