Document Management Module in KYC Portal

March 10, 2020

Documents are a crucial part of any KYC process and due diligence process. Whether you are onboarding an individual or a corporate relationship, documents come in various forms and manners also based on various requirements that evolve over time.

The document management module in KYCP allows you to centralise all documentation on any entity within KYC Portal itself against an entity. This module however offers many other benefits when it comes to automation of due diligence processes. Here are some of the most important aspects to know about.

Automated Expiry notifications
When you upload a document in KYCP you can insert the expiry date of the document. You can then set the number of days before the expiry when your team is to be notified of such expiration so that they can start working on collecting the new version of the document.

Single Customer View
The system also allows you to choose whether this document should stick with the entity across your entire KYC Portal. This is a very powerful feature in order to streamline all documentation by subject across your system. Most clients in fact do set (as a default) that any type of document which is proof of address and proof of ID to stick with the individual wherever they might be in KYCP (even if they show up in the future). This avoids having to ask the same individual or corporate for the documentation that you already have on file, however it also reduces the operational costs of having to keep and verify multiple versions of the same document across your organisation.

Physical Copy
Some companies need to rely on having the physical copy of certain documents throughout the process. KYCP also allows for storing whether the physical copy has been obtained or not to be able to run reports accordingly.

Verification of documents
KYC Portal also allows the agent/user to be able to verify the authenticity of a document with a manual toggle. A button that allows the user to set the document to VALID or INVALID. This feature can also be automated by integrating third parties (of your choice) that offer services of document verification via API. In such cases, clients ask us to integrate our system with the third party of choice and we then automate the verification through API integration.

The document module in KYCP allows the user to view any document in the embedded secured viewer. This viewer handles anything from scans, images, PDF, MS Office, and similar documents. It also highlights which documents are expired and which documents are about to expire in the short term. If the user has the respective rights, the system also allows for downloading the document to your device.
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Targeted For Banks, Financial Services, Insurance, Payments, Gaming, Legal
Status LIVE
Keywords documentation, compliance, due diligence, automation
Direct Benefits Ability to streamline documents across all entities with multiple involvement across the organisation. No need to ask for documentation from existing customers. Reduce operational costs on having to maintain multiple versions of the same document.