Client onboarding remains one of the most friction-heavy stages in the compliance lifecycle, and abandoned or error-ridden applications carry a real cost for regulated firms.
KYCP is aiming to change that with the release of version 2.1.6 of its Customer Outreach Tool (COT), a RegTech update designed to make onboarding complex structures faster, clearer and less error-prone.
According to KYCP, the headline change is a new stepped approach to building company structure charts. Rather than relying solely on the traditional list view, users can now map an entire ownership hierarchy in minutes, with the system guiding them on which related parties can sit under which parent entity based on no-code rules set by administrators. The goal, KYCP said, is right-first-time applications with fewer clicks and fewer mistakes.
Flexibility has also been extended to application creation. A new Application Creation View lets administrators assign custom display names to applications while linking them back to existing programmes, with multiple display names able to point to the same programme. Administrators can also add an HTML-formatted creation message, ensuring users see key guidance or prerequisites before they begin.
For simpler cases, KYCP has streamlined single-entity applications. When a root entity does not allow child entities, COT now skips the Structure page entirely and takes users straight to the Edit Entity screen, hiding irrelevant menus and disabling add or remove actions to cut unnecessary navigation.
The update also tackles the language of onboarding. Alternate COT Status Names allow firms to swap internal workflow labels for user-friendly alternatives, so a status such as Incomplete can appear as Mandatory Fields Missing, without altering the underlying KYCP status or breaking existing integrations.
Perhaps the most visible change is the redesigned application interface. Long field lists have been replaced with clearly defined sections carrying their own completion indicators, flagging whether a section is not started, missing mandatory fields, or complete. The same visibility extends to documents and questionnaires, while a new percentage completion indicator shows users exactly how close they are to submission. Administrators can also break lengthy sections into smaller Steps, configured within KYCP using the Divider Step field type, with simple next and previous controls.
Finally, lookup fields gain new display styles, including radio buttons, checklists and a visual card view, alongside configurable descriptions for lookup and remote lookup values.
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