In this article, we will give an overview of some of the typical steps in onboarding a client on the Meo platform.
Step 1 - Request information
- Start a request from the ‘Request’-tab.
- Name and email is required of the recipient.
- The request will typically be either a company KYC or a person KYC.
- Add the relevant tags (e.g. client number, risk-profile, etc.).
Step 2 - The client completes the request
- Wait for the client to complete the request.
Step 3 - Verify the received information
If the data received is about company:
- Verify the company information.
- Verify the received documents and their content.
- Verify the company screening (sanction lists and adverse media).
- Verify company monitoring.
- Verify the data from the persons (beneficial owners).
- If data from beneficial owners are missing, then create requests for personal KYCs directly to the beneficial owners. Use the Company Contacts data for this purpose.
- Set Client/non-client, PEP status, risk and general status
If the data received is about a person:
- Verify the ID documents (passport and/or driver’s license).
- Verify the address documentation (health card and/or utility bill).
- Check the PEP questionnaire to check for self-classification as PEP.
- Check the person screening for PEP, sanction lists and/or adverse media.
Step 4 - Request any additional information
- Request any information that is not provided in sufficient detail.
- This can either be through a conversation (e.g. more information on the received data) or through a request (e.g. for extra beneficial owners)
- Go to Step 3 for new data.
Step 5 - Complete risk assessment
- Now all data should be sufficient to complete the final risk assessment.
Step 6 - Approval of client relationsship
- Perform any approval procedures
- Status can then be set to ‘Approved’