Parties, onboarding and screening · the record a regulator accepts
Covers the three screens at the core of the financial services vertical: Parties, where people, organizations, the ownership graph and the beneficial owners live; Onboarding, where each party gets a case with a requirement checklist and a sealed decision; and Screening, where identity, sanctions and PEP checks are run by market providers.
These three screens answer a single question: can I do business with this party? The Parties screen holds who they are and who they depend on. The Onboarding screen holds what is still missing to know them. The Screening screen brings in outside evidence. None of them decides on its own: a person on your team decides, and the decision is recorded.
Parties: people, organizations and who really calls the shots
Open Parties in the Financial Services menu. In the New party block, pick the Kind, either Organization or Person, type the Name and click Add party. The list on the left shows every party with its kind icon and status. Click a party to open the panel on the right.
The panel opens with a compliance summary: a badge reading KYC approved or KYC not approved, the status of the most recent onboarding case, the risk rating when there is one, a red Under legal hold warning where it applies, and the Recent decisions line.
Relationships and beneficial owners
In the Relationships block you connect the selected party to another one. Pick the relationship Type, pick the party in Related to, enter the percentage when it is ownership and click Add. Relationship types are a catalog you edit, not a fixed factory list.
For organizations, the Beneficial owners (UBO) block appears right below. It is not typed in: the system walks the graph, multiplies the fractions along each leg and shows the effective ownership of each person, with the path beside it. The path is the evidence, and it is what you show in an audit when someone asks where the percentage came from.
Party profile and the risk suggestion
The Profile block changes with the kind of party. For a person, you fill in Occupation, Income band and the Politically exposed person (PEP) checkbox. For an organization, Industry, Annual revenue band and Publicly traded. Click Save profile. Next to the heading you get the Risk suggestion, reading Low risk, Medium risk or High risk. It supports the analysis and never replaces the risk rating the analyst sets on the onboarding case.
Mirrored accounts and products
In the Accounts and products block you bring an account that lives in another system into the CRM. Enter the Source system, the External ref, pick the Product from the catalog, enter the Balance in the currency's minor unit along with the currency code, and click Mirror. Each account in the list carries a freshness badge: Current, Stale or No date. The note under the block repeats the house rule: mirrored from a source system, never authoritative.
Onboarding: one case, one checklist, one decision
Open Onboarding, pick the party in Open a case for and click Open case. The checklist is created according to the kind of party. A person gets Identity document, Proof of address, Tax identification, PEP screening and Sanctions screening as mandatory, and Source of funds as optional. An organization gets Incorporation document, Beneficial ownership declaration, Tax identification, Authorized representatives and Sanctions screening as mandatory, and Financial statements as optional. All of that is only a starting point: you add items, remove them and change whether each one is mandatory.
- Select the case in the list to open its requirements.
- Mark each requirement with its real state: Pending, Satisfied, Waived or Failed.
- Watch the reading at the top, which shows how many mandatory requirements are met out of the total. Once it closes, the ready to approve note appears.
- Set the case's risk rating and write whatever notes the analysis calls for.
- Click Approve. To turn the party down, type the reasons separated by commas in the reason codes field and click Reject.
Case statuses are Draft, Collecting, Screening, Review, Approved and Rejected. Once decided, the case closes and the screen tells you the decision is preserved on the trail. There is no reopening to change what was decided: if the situation changed, open a new case, and that one becomes the most recent.
Screening: outside evidence, never the decision
Open Screening. The Providers block lists the verification providers available: Onfido, Jumio, Trulioo, LexisNexis Risk and World-Check. Each shows as Ready or Awaiting credentials. Credentials are set by the service operator, not by the CRM user.
To run a check, pick the Party, pick the Check among Identity, Document, Biometrics, Sanctions, PEP, Adverse media, Business (KYB) and Credit bureau, then click Run check. The result joins the list with a status: Clear, Hit, Review, Verified, Not verified, Not supported, Not configured or Error, along with the number of hits when there are any.
Frequently asked questions
- Can I approve a case with a mandatory requirement still pending? No. Mark it Waived if your policy allows a waiver, or satisfy the requirement.
- Does the UBO disappear when I delete a relationship? Yes, because it is calculated on the spot from the graph. Delete a leg and the calculation changes.
- Why does a mirrored account read No date? Because it was mirrored without a balance date. Mirror it again with the date and the badge turns Current.
- I ran a screening and nothing came back. Check whether the provider shows as Ready. Awaiting credentials returns Not configured.
- I deleted a party by mistake, can I get it back? Deleting a party is permanent. If the party is under legal hold the system refuses the deletion, which is exactly the protection that matters in the cases that matter.