So based on the Entity that one is creating, one can then
decide its type. This Category is used by KYC Portal CLM to limit certain
actions that should happen on an entity which of a “natural person” type or a
type of “corporation” (such as a Trust, Foundation, Company, etc).
In this latest product release however, KYC Portal CLM can be setup to
dynamically associate the CATEGORY of an Entity based on the value of a field
in the form itself. From the configuration module one can decide which field will set this
category for the entity and also based on which value in the field. The
solution will then automatically associate the Category of the Entity in
This feature was created due to use cases whereby customers
give access to counterparties via the customer outreach tools and the creation
of a new application is open to be both a natural person or a legal entity. Due
to this flexibility that clients are offering their counterparties, one of the
fields that the client has to fill in is a drop down field in which they have
to choose the type of entity they are.
Based on the value, the system will change the category dynamically.