Annexure (2): Application Form for New Banking Products or Services

Effective from Nov 01 2023 - Oct 31 2023
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A detailed description of the product or service:

Product or Service Risk Classification (For example: High, medium, low risk):

Did The bank completed the independent evaluation required under clause (7.1) ?
☐Yes			☐No
Evaluation date: Day/Month/Year
Is the bank complied with the required maturity level in the frameworks mentioned in clause (7.1) ?
☐Yes			☐No
Notes:
Product or service objectives:

Product or service features:

Product or service offering journey:

Product or service delivery channel(s):
☐ Bank branches
☐ E-Channels ( ☐ Phone Banking, ☐ Mobile Banking, ☐ Bank's Website)
☐ Relationship Mangers
☐ Other:
Targeted customers:
☐ Existing bank customers			☐ Non-existing bank customers
Targeted segment:
☐ Retail	☐ Small/Medium enterprises	☐ Corporate		☐ Government sector	☐ Non-profit sector
☐ Other:
Customer identity verification mechanism:

Fees, commissions and any other additional amounts might be incurred by the customer:

Product or service launching plan in the local market:

Similar products or services offered in the local market (if any):

The potential impact on the bank's liquidity ratios (SAMA Liquidity Ratio, CAR, LCR & NFSR) and any other regulatory indicators:

Technological requirements, details and the integration method with third parties and other technological systems, including but not limited to Robot, Cloud, Biometrics:

System classification by the entity, whether it is a main or secondary system:

In case of storing data, clarify the location of the data storage, the storage method and the type of data shall be clarified in detail, with reasons and justifications:

In case of contracting with third parties, the details of the third parties shall be provided, including the name, location, duties, responsibilities, and any relevant information.

Third-party remote access method (if applicable):

In case of contracting with third parties, what are the type of data will be shared, and what measures will be taken to maintain information privacy and security:

Has the verification method been clarified for the product/service, e.g. two factor authentication (2FA) using the password and the one-time password (OTP):

Has the product/service been added to fraud monitoring systems with the ability to directly add and modify scenarios:

Do third parties comply with the cloud computing cybersecurity controls (in the case of using cloud computing technology):

In case of technological integration, explain the integration method in detail:

The internal bank function responsible for monitoring the product or service:

The method of cancelling the product or service by the customer and cancelation fees (if applicable):

Information/correspondences with SAMA regarding the above product or service(If any):

Additional information:

Product or service developer name and contact information (email, mobile phone, landline):