Client onboarding remains one of the most persistent friction points in RegTech, with abandoned applications and error-ridden submissions costing firms time and revenue.
KYCP is looking to change that with the release of version 2.1.6 of its Customer Outreach Tool (COT), a substantial overhaul aimed at making complex onboarding journeys faster, clearer and less error-prone.
At the heart of the KYCP release is a new stepped design for building complex ownership structures. Users can now visualise and configure entire hierarchies through company structure charts in minutes, with the platform guiding them on which related parties can be attached to which parent entity based on no-code logic set by administrators. The aim, according to KYCP, is right-first-time applications with fewer clicks and fewer errors.
Flexibility has also been extended to application creation. A new Application Creation View lets administrators configure custom display names linked to existing programmes, with multiple display names able to point to the same programme. Administrators can also set an HTML-formatted Creation Message to surface prerequisites or guidance before users begin.
For simpler cases, COT now automatically detects when a root entity does not permit child entities, routing users straight to the Edit Entity screen and hiding irrelevant structure controls. This trims unnecessary navigation for single-entity applications.
KYCP has also addressed a common usability gripe: internal statuses that mean little to end users. Alternate COT Status Names allow firms to translate operational labels, such as Incomplete, into clearer language like Mandatory Fields Missing, all without touching the underlying KYCP status or existing integrations.
The redesigned application interface arguably delivers the biggest visible change. Long field lists are replaced by clearly defined sections with status indicators, showing whether each section is Not Started, Completed, or how many mandatory fields remain. The same treatment extends to Documents and Questionnaires.
Administrators can further break long sections into Steps using the Divider Step field type in KYCP, while an overall percentage completion indicator, calculated from mandatory fields, shows users how close they are to submission.
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