Dynamic Type of Entities

February 01, 2023

In KYC Portal CLM, when you create the types of Entities that you want to use in the solution you need to define the CATEGORY of each entity, whether the Entity is a Natural Person or a Legal Entity.

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).

KYC Portal CLM

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 question.

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.

KYC Portal CLM

Based on the value, the system will change the category dynamically.
For more info contact us directly on or schedule your live demo with us today. 
Targeted For Use cases where the entity is unknown until onboarded
Status LIVE
Keywords CLM, risk automation, CRA, KYC, AML
Direct Benefits Allowing the solution to change the category of an entity based on the fields being input