One of the key tasks in ongoing client monitoring is updating the client’s KYC—either on a regular basis or when there’s a change in the client’s circumstances.
Parallel makes it easy for both you and your client to update the KYC when a client profile already exists. You can launch a KYC parallel pre-filled with the data you already have.
This means that instead of asking your client to fill out a form from scratch, you initiate a confirmation process, making the experience much smoother for them.
To launch a KYC refresh, simply ensure that the parallel template you’re using is correctly configured with the client profile properties.
Automated KYC Refresh (Coming Soon)
In addition to launching KYC refreshes manually, Parallel will soon allow you to schedule automatic refreshes based on the risk level determined in the client’s last evaluation.
In these cases, you won’t need to manually send forms—just monitor progress or wait for the system to notify you once the process is complete.