KYC (Know Your Customer)

With the Additional Feature KYC, the respective affiliated companies and persons can be checked when opening a mandate. Since the requirements for such checks can be very different, this additional function implements an additional feature base that can be adjusted and expanded as desired.

The download of the additional feature or the corresponding config set can be found here.

Application

1. Open a new case and assign it to the client.
2. Right-click on the case to add a new KYC Prüfung to:

   

3. Select a template via button. In
   this example, the template Standard is used, which is added to the field Besondere Sorgfaltspflicht the value No. In addition to Yes and No, nothing can be selected so that the changes made can be traced.

   

   As the requirements for KYC checks can be very different, the templates can be customized in the settings and created from scratch. See further down.
4. Selecting the template creates a checklist in the form of activities grouped according to the following areas:
   • Company data
   • Documents
   • Risk analysis
   • Risk rating (Low, Medium, High)
   • Additional checks (anything that is not included in the predefined areas and is to be checked can be added here)
5. In the list of activities, the individual items can be listed as Nicht notwendig or Erledigt Next to the checkbox is shown who and when activated the checkbox and remarks can be entered. Only the last change and no change history is saved.

   

   Note: All documents related to the exams can be saved on the respective activities.
6. Once all the activities of a group have been edited, this is done under Noch offen and the corresponding checkbox can be activated:

   

7. On the Beneficiaries and Confirmation page there is a section on personal audits and remarks can be entered.

   

   Via Checkbox can be recorded as soon as all persons have been checked.

Affiliated companies

The corporate conglomerate can be found in the subfolder Verbundene Firmen can be viewed. In this list, new KYC checks can also be created or already executed checks can be opened via button:

Since KYC audits are related to cases, several audits are possible per company. In this list you can see for which company and when an audit has already been carried out.

Connected contacts

The contacts associated with the respective company can be found in the subfolder Verbundene Kontakte The position (field Position on the contact > page More info) is entered in the list and shows whether and when a personal check has already been carried out.

Personal examinations

When opening a new person review in the subfolder Personenprüfungen or via button under Verbundene Kontakte the following window is opened and a list of activities is created based on the submission of the KYC check:

You can assign a Role (Role can be adapted and expanded, see further down), public or political interest, and any relationship with politically exposed individuals. On the More Info page, you can enter remarks and the date when the review will be completed.

The processing in the activity list is analogous to the KYC check.

Complete the test

Once the person check as well as all the items of the activity list, all connected companies and contacts have been checked, in the field can Prüfung abgeschlossen am a date. This fixes all entered values and the check can no longer be adjusted. How long it took to process this KYC check can be evaluated in the KYC checks lead time folder (see further down).

folder KYC

Under Addresses and CRM > KYC KYC Prüfungen, filtered by address, case and competence, as well as the Durchlaufzeiten (the days from the preparation to the completion of the examinations).

KYC Templates and Role

Templates for KYC checks and Role are maintained under Settings > CRM > KYC settings.

• In the Templates folder, you can edit existing activity lists or create new templates. Activities for person reviews (Type KYC Personenprüfung) are also created in the template in the link Activities.
• In the Role folder, you can create additional Role for person checks in KYC if necessary. The Role Actual beneficial owner and legal representative are predefined.

Requirements and Download

Important information before import can be found in the Worth knowing about the additional features article. Config sets modify data in Vertec, which can overwrite existing data.

The exact import process can be found in the Articles about the config sets.

Download the additional feature with the following download link:

The following objects are created by importing the config set: