Streamline the collection and processing of beneficial owners with a single, digital platform to meet the requirements of FinCEN’s Beneficial Ownership rule.
Beneficial ID® automates data collection for beneficial owners during the initial application and at your company’s designated trigger events so that your FI remains in compliance without the bur-den of manual research or record keeping.
How it works
Identify and verify beneficial owners meeting CIP requirements, including OFAC and KYC
Eliminate paper processing and provide legal entity owners the ability to digitally complete beneficial ownership forms, including e-signature certification
Creates beneficial ownership reports in PDF for digital storage or printing
Facilitate the collection of information needed to identify and verify beneficial owners with a customizable form designed to capture pertinent information about the person in control of the account, the legal entity customer, and beneficial owners.
API functionality can be enabled as part of online enrollments for easy data and document collection and verification.