Streamlining compliance with KYC Portal CLM: A single customer view solution for global entities


KYC Portal CLM has developed an approach that centres on the single customer view, streamlining the process of handling data, documents, questionnaires, and screening data for a subject.

This methodology not only reduces the costs associated with managing duplicate data but also accelerates the onboarding rate, as customers are not required to submit the same information repeatedly.

This single customer view within KYCP operates under different circumstances, allowing the compliance team to search for the subject before adding them, or recognising a subject that is already in the database. This is achieved through two main functions:

  1. USE FROM EXISTING – Upon adding a subject in KYCP, the system offers the ability to create the new subject by using existing information in the database. The user can search, confirm, and click on USE SUBJECT, leading to the creation of the new subject with selected linked fields, documents, notes, and other common data.
  2. IDENTIFICATION ALERT – If a user is unaware of a subject’s existence in the database, an automatic alert identifies potential duplicate matches, prompting the user to decide whether to continue with existing data, new data, or create the information from scratch.

The functionality proves invaluable for companies with operations spread across different jurisdictions, allowing organisations to create a single customer view for subjects onboarded across various global services. This enables the company to instantaneously view all connected parties and multiple involvements of subjects throughout its global operations.

However, the feature can pose operational challenges when data is shared between programmes used for particular jurisdictions. Clients have different needs and preferences, with some wishing to share data across all jurisdictions, while others may require specific consent from subjects to make their data available for other programmes.

To address these diverse needs, a new feature has been implemented to decide at the entity level whether the data should be shared across all programmes, only within the same programme, or not shared at all. This flexibility ensures that KYCP can share data across programmes while limiting specific entities from being shared.

This new feature also introduces conditions based on field values, allowing clients to customise the conditions using preferred values within those fields. A field might include a statement like “I consent my data to be shared,” giving the customer control over the sharing process.

If a subject exists but is not shared due to the new feature’s configuration, identification alerts will still be provided. However, viewing the details will be restricted, depending on the settings of the programmes, such as limiting user access to other programmes or excluding specific programmes from the “Search in Linked Programmes” feature.

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