When using the Onboarding & KYC Client Portal, customers are able to add authorized individuals to their account with you. This page explains the process by which these are approved and the 'Status' transitions of newly added Contacts.
The table below summarizes the Status and Compliance Status transitions on Contacts that are updated via the client portal.
- Workflow - this column describe the high-level workflow that each of the 'Actions' are performed within
- Action - the change made that results in an update to the Status or Compliance Status of the Contact
- Contact Status - what the Status of the Contact will be following the Action
- Contact Compliance Status - what the Compliance Status of the Contact will be following the Action
|
Workflow |
Action |
Contact Status |
Contact Compliance Status |
|
Onboarding |
Customer creates a new Authorized Individual or edits an existing Authorized Individual in the client portal |
Pending |
None |
|
Customer submits the Onboarding Application via the client portal |
Pending |
Compliance Review |
|
|
Compliance reject the Onboarding Application with reason 'Needs more info' |
Pending |
Customer Review |
|
|
Compliance reject the authorized individual with reason 'Add to greylist' |
Restricted |
|
|
|
Compliance approves the Onboarding Application |
Active |
Approved |
|
|
Application Update with Non-Commercial Fields Updated |
Customer updates existing Authorized Individual (non-commercial fields) in the client portal |
Active |
Compliance Review |
|
Compliance reject the Application Update with reason 'Needs more info' |
Active |
Customer Review |
|
|
Compliance reject the Application Update with reason 'Add to greylist' |
Restricted |
|
|
|
Compliance approves the Application Update |
Active |
Approved |
|
|
Application Update with Commercial Fields Updated |
Customer updates existing Authorized Individual (commercial fields or PEP status) in the client portal |
Active |
Compliance Review |
|
Compliance reject the Application Update with reason 'Needs more info' |
Active |
Customer Review |
|
|
Compliance reject the Application Update with reason 'Add to greylist' |
Restricted |
|
|
|
Compliance approves the Application Update |
Active |
Approved |
|
|
Application Renewal (Post KYC Renewal Date) |
Account is suspended for trading |
Restricted |
Customer Review |
|
Customer updates existing Authorized Individual(s) (commercial fields or PEP status) via the client portal |
Restricted |
Compliance Review |
|
|
Compliance reject the Application Renewal with reason 'Needs more info' |
Active |
Customer Review |
|
|
Compliance reject the Application Renewal with reason 'Add to greylist' |
Restricted |
|
|
|
Compliance approves the Application Renewal |
Active |
Approved |