UBO Identification and Verification

The Ultimate Beneficial Owner Verification feature enhances the process of collecting and verifying the identities of individuals who own or control a significant stake in a Legal Entity. This feature lets your clients provide UBO details directly through the Legal Entity onboarding portal.

When UBO details are submitted, the system automatically creates Natural Person Profiles for each UBO, which are then linked to their corresponding Legal Entities for efficient record management.

Additionally, you can configure the system to send an email inviting the UBO to verify their identity via the Natural Person Portal.

How UBO Identification Works

1. Once UBO details are input by your customer, the system automatically creates natural person profiles for the UBOs in the backend.
2. These profiles are linked to their corresponding legal entities for efficient record management.
3. If UBO Verification is enabled, an email is sent to the UBO, including instructions and a secure link to the Natural Person Portal.
4. The UBO completes the verification process via the portal.
5. Upon successful verification, the UBO profile remains linked to the legal entity, with updated verification status reflected in the system.

Steps to Enable UBO Identification and Verification

1.  Navigate to Portal Management by clicking Administration in the top right corner followed by Portal Management on the left sidebar.

2. Click Legal Entity Portals and choose the portal in which you want to enable the UBO identification feature. 

3. Click Legal Entities Modules

4. Navigate to the Add Legal Entity Module (Module 5).

5. Scroll down to the UBO Verification section and turn on the toggle to allow clients to input UBO details directly in the portal.

6. Enable UBO Verification (Optional)

Enable Send email to UBO to complete KYC toggle to allow the system to send emails directly to UBOs, inviting them to verify their identity through a Natural Person Portal.

Note: Ensure the Natural Person Portal is properly set up before enabling this feature.

7. Select the Natural Person Portal that you would like to direct the UBOs to. 

8. Scroll to the top of the page to Save the changes.