In today’s fast-paced financial environment, companies must deal with complex ownership structures, particularly when it comes to corporate counterparties.
According to KYC Portal, one of the most time-consuming and error-prone tasks in this process is determining the relationship between various entities in a structure and their connection to the root company. For institutions managing Anti-Money Laundering (AML) and Know Your Customer (KYC) processes, this is an ongoing challenge. KYC Portal has stepped in to simplify this time-intensive task, automating ownership structure calculations and reducing human error in the process.
Identifying the ownership structure of counterparties is a daily responsibility for financial institutions. This task becomes even more challenging when dealing with intricate structures like trusts, foundations, partnerships, or multiple stakeholder involvements. In these situations, key principals can appear in multiple places within the same structure, making it difficult to determine the true ownership behind an entity. KYC Portal solves this problem by automating the ownership calculation process with the help of configurable fields, rules, and scripts tailored to each user’s needs.
The KYC Portal Fields Module plays a crucial role in simplifying this process. It allows users to input the percentage ownership of each key principle in relation to the direct parent of the entity within the structure. This functionality is critical for ensuring that the ownership details are accurately captured for every party involved, reducing inconsistencies and the potential for errors.
Further enhancing the user experience, the KYC Portal Custom Button feature enables users to configure action buttons at specific points in the workflow. By pressing these buttons, users can trigger pre-set scripts that automatically calculate the ownership structure based on predefined rules. This level of automation ensures that the system quickly and accurately determines the ownership percentages within the structure, without requiring manual intervention.
The automated calculations provided by KYC Portal offer several key benefits. The system automatically populates the percentage ownership for each entity within the structure in relation to the root entity, even accounting for cases where a principal is involved multiple times in different parts of the structure. This means users can quickly see the combined ownership of a party that holds shares in multiple entities. Moreover, the solution ensures that the ownership data is 100% accurate, highlighting any discrepancies in the ownership allocations.
By automating this process, KYC Portal enables faster onboarding of corporate counterparties. The automated system not only saves time but also ensures a higher level of accuracy, which is vital when managing corporate structures.
Additionally, the feature can be integrated into the Customer Outreach Tool, allowing clients to validate ownership details before submitting applications to the internal teams for further review. This integration further streamlines the due diligence process, providing a smoother experience for both clients and internal teams.
With the ability to validate the full ownership structure with the click of a button, KYC Portal provides a significant advantage in onboarding clients more efficiently and securely. This feature makes corporate due diligence a faster, more streamlined process, ensuring compliance while reducing the risk of human error.
Copyright © 2025 RegTech Analyst
Copyright © 2018 RegTech Analyst
