Mutual fund customer identification

1. A computer-assisted method for verifying identifying data of a customer of a financial institution, the method comprising:

receiving by a customer processing system of a customer identification program the identifying data of a customer, wherein the customer processing system comprises an electronic computer processor and an electronic data storage device operatively associated with the customer identification program;

determining by the customer processing system the applicability of the customer identification program to a customer, wherein the determining comprises applying the customer identifying data to at least one of a customer matrix or a scenario matrix, wherein:

(a) the customer matrix comprises data identifying who the customer is in relation to the financial institution, information required from the customer, and supporting documentation to obtain from the customer; and

(b) the scenario matrix comprises data including at least one scenario encounterable by the customer identification program, data indicative of obtaining required data elements for a scenario, and data including a reason for obtaining the required data elements;

when the customer identification program is applicable to the customer, determining with the at least one of the customer matrix or the scenario matrix the customer identifying data to be obtained from the customer;

creating a record for the customer in a compliance database of the customer identification program, wherein the compliance database comprises an electronic data storage device operatively associated with the customer processing system;

searching at least one record of the customer identifying data with at least one governmental list function using the customer processing system; and,

communicating by the customer processing system at least one record of the customer identifying data to at least one verification vendor for verification of the customer's identity.

2. The method of claim 1 , further comprising verifying the customer identifying data in accordance with at least a portion of the Patriot Act.

3. The method of claim 1 , wherein the financial institution includes a mutual fund.

4. The method of claim 1 , further comprising engaging a third party entity to provide customer identification program services on behalf of the financial institution.

5. The method of claim 4 , wherein the financial institution includes a mutual fund.

6. The method of claim 4 , wherein the third party entity includes a transfer agent.

7. The method of claim 1 , wherein the identifying data is selected from the group consisting of customer name, customer address, a government-issued identification number, and a date of birth.

8. The method of claim 1 , further comprising receiving supporting documentation in the customer processing system.

9. The method of claim 1 , further comprising reestablishing contact with the customer to obtain required data elements associated with the customer identifying data.

10. The method of claim 1 , further comprising employing at least a first verification vendor for individual customers and a second verification vendor for entity customers.

11. The method of claim 1 , further comprising receiving an indication of the degree to which the customer record matches information of the verification vendor.

12. The method of claim 11 , further comprising marking at least one of the customer records as verified or unverified.

13. The method of claim 12 , further comprising placing the unverified customer records in one or more queues for further verification processing.

14. The method of claim 12 , further comprising re-transmitting at least one of the unverified customer records to at least one of the verification vendors.

15. The method of claim 12 , further comprising conducting at least one further verification processing activity to attempt to verify at least one of the unverified customer records.

16. The method of claim 15 , wherein when the further verification processing activity is unsuccessful at verifying the customer record, creating a CIP case based on the unverified customer record.

17. The method of claim 15 , wherein when the further verification processing activity is unsuccessful at verifying the customer record, placing a resolution code on an account of the customer to prevent future activity by the customer with the financial institution.

18. A computer system programmed for verifying identifying data of a customer of a financial institution, the method comprising:

receiving by a customer processing system of a customer identification program the identifying data of a customer, wherein the customer processing system comprises an electronic computer processor and at least one electronic data storage device; and,

wherein the processor is programmed for:

determining applicability of the customer identification program to a customer, wherein the determining comprises applying the customer identifying data to at least one of a customer matrix or a scenario matrix, wherein:

(a) the customer matrix comprises data identifying who the customer is in relation to the financial institution, information required from the customer, and supporting documentation to obtain from the customer;

(b) the scenario matrix comprises data including at least one scenario encounterable by the customer identification program, data indicative of obtaining required data elements for a scenario, and data including a reason for obtaining the required data elements, and

when the customer identification program is applicable to the customer, determining with the at least one of the customer matrix or the scenario matrix the customer identifying data to be obtained from the customer;

creating a record for the customer in a compliance database of the customer identification program, wherein the compliance database comprises an electronic data storage device operatively associated with the customer processing system;

searching at least one record of the customer identifying data with at least one governmental list function using the customer processing system; and,

communicating by the customer processing system at least one record of the customer identifying data to at least one verification vendor for verification of the customer's identity.