PreciseFP calculates a data quality score for each client and prospect account. To calculate this score, the system uses a series of rules to identify incomplete or missing information in each account profile. The Data Quality Score is based on the FINRA KYC requirements.
Your PreciseFP account comes loaded with a default set of rules created by financial professionals that will help you identify key pieces of missing information.
To manage your client and prospect data quality rules, click “Data quality” in the settings sub-navigation (Settings > Data Quality). You will be able to create, update and remove rules for both clients and prospects.
Data quality rules
To create a new data quality rule, click the “+” button located on the top right corner of the data quality section.
You will be prompted to select the profile element associated with the rule, as well as the validation to perform. The importance field allows you to give different weights, from 1 to 10, to each of your rules. The higher the importance, the more weight the rule will have in determining the overall score.
The valid and invalid messages is what you will see when drilling down on a client/prospect data quality score.
Clicking on an existing rule will allow you to update it and access the “remove” operation.
Account Data Quality
PreciseFP will calculate a Data Quality Score for each client and prospect account.
This score is based on a set of rules that identify missing data in each account. (Available only to Company Admins)
Click the “more” button at the right of the data quality score under the account details panel to see the full list of rules and their current state.