The KYC checks performed by Modern Treasury are configured in the associated "flow" used when creating a new instance of User Onboarding. Each instance of User Onboarding can use a different flow, allowing you to perform different KYC checks in different scenarios as needed. The following guide walks you through how to create and use a new flow.
When logged into your dashboard, navigate to the flows section of the Compliance tab. Click the "Create Verification Flow" dropdown, and select "Individual". This will take you to a form for creating a new flow.
Add a name to the flow such as "Basic Checks" or "TIN Only." The name will be used to generate a
flow_alias, which is used later when creating user onboardings.
Under the "Checks" section, select the checks to be completed. As you modify the selection of checks to be done, you will notice the "Collected Data" section update accordingly. The table below describes supported KYC checks and the information required for each check.
|Identity (e.g. Phone and Email)
|Name, address, phone, and email.
|Name, date of birth, address, and taxpayer identifier.
|Watchlist (e.g. Sanctions, Politically Exposed Person, and Adverse Media)
|Name, date of birth, and address.
You can also configure ongoing watchlist monitoring for the customer.
Based on your selected checks above, you can specify whether to collect data or not. For some attributes, you may also specify it as optional or required. Note that you will not be able to deselect data required for previously selected checks.
When finished, click the "Create" button to save the new flow.
You will be redirect to a details page for the new flow. Now when creating a new user onboarding, specify the
flow_alias listed on this page. The user onboarding will now collect the data and perform the checks selected in the custom flow.
Updated 3 months ago