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Overview

Anytime a business customer is run through KYB, the outcome will be checked against the configured rules, and if any of the rules are hit, the system will automatically create a new KYB case for review and investigation.

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When to use the KYB case type

The KYB case type will be automatically created by the system anytime KYB is run on a business and the business hits a rule configured to put KYB into any status other than “Accepted.” This can be caused by the business itself hitting a rule, or a person related to the business hitting a KYC rule. Your team will need to review these cases and decide whether to set the final KYB outcome for the business to “Accepted” or “Rejected.” All actions and decisions made on the case will be made by your team. These actions and decisions will be viewable by your bank partner for oversight purposes. While the KYB case for a business is under review, the business will not be able to perform any transactions. To help decision KYB cases, users of Synctera Cases may need to reach out to the business or to related people to gather further documentation, or review other available sources for corroborating information to make a decision.
There are scenarios where the business itself will have passed all checks but a related persons does not pass their individual KYC check. This will result in a KYB case being created. Actioning the KYC case for the related person will then allow for actioning the KYB case itself.

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What’s displayed for the KYB case

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Business Information

This provides a quick overview of the business. It links to the “Business Information” page, which contains more details about the business.

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KYB Outcomes

This displays the various outcomes for the KYB check, broken down into passed and failed outcomes for the Identity and Watchlist check portions.

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Full Verification Details

This is the full JSON object that holds the API response with the data for the KYB outcome.

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Owners and Officers

This displays all of the Owners and Officers attached to the business, as well as their individual KYC outcomes, and any potential KYC cases open for those individuals.

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Reviewing and decisioning cases

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Move case into Review

This allows a user to move the case out of the New state so that it is clear to other case reviewers that the case has been initially viewed and is actively under review, even if a final decision is yet to be made. This can be useful in differentiating between new cases that have just been opened and cases that have had a first look or review and are awaiting further input or information before making a final decision.

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Fail case

Take this action when it has been determined that the business cannot be verified, or it has been confirmed that they are not a valid business or are attempting to commit fraud. Or take this action when an Owner or Beneficial Owner cannot be verified and thus the business cannot open accounts. This will change the business verification status to ‘Rejected’ and the business will not be able to transact.
This action can be taken at any time while the case is open, no matter the KYC status of the individuals related to the business.

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Pass case

Take this action when it has been determined that the business is real and all their information and the information of individuals related to the business can be verified. This will change the business verification status to “Accepted” and the business will be allowed to open accounts and transact.
This action can only be taken once all KYC cases for related individuals have also been passed.

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Re-run KYB

Take this action if information about the business or any related individuals has materially changed between when the case was created and when the case went under review. This will run KYB on the business again, and if information about the business has changed, may result in a different outcome.

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Freeze business

Take this action to freeze the business and prevent them from performing any actions or making any transactions.

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Other actions

At the bottom of the case there is an area with details about individuals related to the business and their KYC outcomes. You can click on them to go directly to their Customer Information page, or if there is a KYC case open for that individual, to go directly to the KYC case to review and take action.

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Roles & Responsibilities