Setting Up Legal Entity Modules

This guide provides instructions on configuring your portal to onboard Legal Entities according to your specific business requirements.

After creating a new portal and configuring its domains, the next step is to set up the portal itself. In the "Modules" section, you will find a list of all the available modules that can be enabled within the Legal Entity Portal.

1. Landing Page

The first module is the landing page, which serves as the initial point in your portal's workflow. It can be enabled or disabled, and the on-screen text is fully customizable. You can also apply custom tags to a subject when they initiate the workflow to indicate that they are still in progress. Conversely, you have the option to remove a tag from the subject to track when they have successfully completed the workflow.

1. Summary Page

The second module is the Summary Page, which serves as a comprehensive breakdown of all the mandatory modules that the subject needs to complete.

1. Consent Gateway

The third module is the Consent Gateway. It can be toggled on or off, and the on-screen text is entirely customizable. You have the ability to display a Data and Privacy Consent message on this page, which the subject must accept to continue. If the subject declines consent, you can choose to have them return to the previous module, or you can redirect them to a designated Fail Redirect URL.

1. Add Legal Entity

The fourth module is the "Add Legal Entity" module, which is mandatory and cannot be turned off. Within this module, there are toggles that allow you to activate additional information collection options, such as additional names, addresses, primary contact, tax jurisdictions, reporting jurisdictions, KYC requests, the ability to create an AML case for the primary legal entity, and automation features. These toggles provide flexibility in tailoring the information collection process to your specific needs and compliance requirements.

• Additional names: Enabling the "Additional Names" toggle provides users with the option to input any additional names associated with the organization. This may include names such as Also Known As, Doing Business As, and Formerly Known As, allowing for comprehensive documentation of the organization's various aliases and historical names.

• Addresses: Enabling the "Addresses" toggle allows you to collect various types of addresses associated with the organization, including the headquarters address, legal address, billing address, mailing address, and physical address. This feature ensures comprehensive documentation of the organization's different address types for effective management and communication purposes.

• Primary Contact: Enabling the "Primary Contact" toggle allows users to enter the primary contact information for the organization. This feature is particularly useful when you need to request client updates directly from this individual, as it requires users to provide their name and email, making it easier to establish communication and ensure relevant updates are obtained from the designated point of contact.

• Tax Jurisdictions: Enabling the "Tax Jurisdiction" toggle prompts users to provide information about all the countries where the organization reports taxes. Users will also need to input the Tax ID associated with the organization for each respective tax jurisdiction. This feature facilitates thorough documentation of the organization's tax reporting obligations across different regions.

• Reporting Jurisdictions: Enabling the "Reporting Jurisdictions" toggle prompts users to list each jurisdiction to which the organization reports, including details such as the country, reporting organization, and registration ID. This feature ensures comprehensive documentation of the organization's regulatory reporting obligations, helping to maintain compliance and transparency.

• KYC Requests: Within KYC services, you have the flexibility to enable various options, including:

  1. Entity Data Validation with LEI: This feature allows you to require the validation of entity data using Legal Entity Identifiers (LEIs) for enhanced accuracy and reliability.

  2. Require Entity Details with Supporting Documents: You can choose to mandate the submission of entity details along with supporting documents.

  3. Address Details with Supporting Documents: Similarly, you can opt to make it mandatory for users to provide address details, along with supporting documents.

  
• Create AML Case for Primary Legal Entity: Enabling the "Create AML Case for Primary Legal Entity" allows you to run a screening on an entity directly after a portal submission. This feature provides several other options as well:

  1. Create AML Case(s) After Primary Entity Data Validation is Accepted: This option triggers the creation of AML (Anti-Money Laundering) cases once the primary entity's data validation is accepted.

  2. Enable Daily Ongoing Monitoring for Each Case for One Year: You can choose to activate daily ongoing monitoring for each AML case created, with a duration of one year.

  3. Create New AML Case with Ongoing Monitoring Each Year: This setting allows for the automatic creation of a new AML case with ongoing monitoring every year.

  4. If No Matches Are Found, Set Case(s) Status to Closed: In the absence of any matches or issues detected during screening, this option will automatically set the status of the case(s) to closed.

  Please note that configuring a risk screening profile is a prerequisite for using these options effectively.

  
• Automation: Within the "Automations" toggle, you can configure various automation settings, including:

  1. Set Next KYC Review: This option allows you to automate the scheduling of the next KYC review for entities.

  2. Set Profile Status To: You can automate the updating of profile status for entities, ensuring that their status aligns with predefined criteria or conditions.

  3. Set Risk Level To: This feature enables you to automate the assignment of specific risk levels to entities based on predefined rules or criteria.

  

1. Supporting Documents

The fifth module is the Supporting Documents Module. Activate this module if you require the subject to upload any supporting documents as part of the portal flow. To ensure the proper functioning of this module, you must have the supporting document types preconfigured in the administration settings, specifically under the Supporting Documents section. This way, you can effectively collect and verify the necessary documents from the subjects during the verification process.

1. Third Party Confirmation

The sixth module is the "Third-Party Confirmation Module." Enabling this module allows for the involvement of a lawyer, accountant, or power of attorney to review and confirm the entered information after it has been submitted. This adds an additional layer of verification and assurance to the data entered in the system.

For this feature to operate, a portal must be selected. Within this module, you have several options:

1. Require a Natural Person Identity Verification on Third Party: You can choose to mandate a natural person identity verification process for third parties involved in the confirmation.

2. Require Third Party to Declare BAR Association and Registration Number: This option allows you to require third parties to declare their affiliation with a BAR association and provide their registration number for verification.

3. Allow the Third Party to Edit or Update Legal Entity Data in the KYC Portal: Depending on your needs, you can grant third parties the ability to edit or update legal entity data within the portal.

1. Final Screen

The seventh module is the Final Screen Module. This module is utilized to inform the subject that the portal verification process has reached its conclusion. The text displayed on this screen is fully customizable, allowing you to convey any necessary information or instructions. Additionally, you have the flexibility to apply custom tags to a subject when they initiate the workflow to indicate their ongoing status, and you can remove these tags when they have successfully completed the entire verification process. This module serves as a clear endpoint for the subject's journey through the portal.

1. Natural Person Flow

Enabling the "Natural Person Flow" module will prompt the user to complete an identity verification process through a Natural Person portal. Please note that to use this feature, you must have a preconfigured Natural Person portal already set up. This module ensures that the user's identity is verified effectively and securely.

If the toggle is enabled, you have the flexibility to position it within the workflow as needed. You can choose to drag the module to the top of the page to have it initiate the flow from the beginning, or you can leave it in its current position to have it as the last part of the workflow. This allows you to customize the flow based on your specific process requirements and preferences