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Clone an existing entity without sharing data

August 07, 2024

One of the most crucial elements in KYCP is the ability to re-use and share data of subjects between applications. The innate nature of such KYC processes leads to subjects (be it individuals as well as legal entities) having multiple involvements across structures and services. This often leads to duplication of data and work.

Based on the above, KYCP was designed to allow users to create new relationships of entities at a click of a button – the USE FROM EXISTING.



This is one of the most sought-after features in KYCP. It allows organisations to centralise all the key / common elements of a subject across all involvements. You decide which fields and documents should stick to the subject in question in order to have a centralised common view, irrespective of how many times that subject is involved. This leads to numerous benefits when it comes to conducting due diligence processes as well as onboarding.

As an example, onboarding an individual who is already within KYCP (due to another service or company that same individual is involved in) would only require creating the subject from the existing record. KYCP would link all common data fields and documents to the new subject. This means one would not need to ask the individual to provide all the details and documents all over again, leading to a faster and more efficient means of onboarding. Also, internally, it leads to cost efficiencies. There is only the need to have one version of the proof of ID. One check, one validation, one expiry to maintain irrespective of the number of times this subject is involved across KYCP. This is also applicable when it comes to all screening data (Adverse Media, PEPs, Sanctions, etc). The decisions on matches are taken once instantly being applied to all involvements of the subject.

The new feature however, focuses on CLONING. The ability to start a completely new / separate entity using an existing one as a base. The new subject will be completely separate. There is no link between the new entity and the one it’s being CLONED from. The CLONE would create a new application using the same exact structure of all related parties of the existing application as well as the fields that are common between the two applications, apart for Name and Surname. These latter fields are the only fields that are not copied over from the existing application.

If the user is given the right to be able to CLONE entities, the system will show the option in the ADD ENTITY screen as per below.



This feature caters for a business use case in which clients have structures that are common across applications. An example of which relates to the fund industry whereby there are different clients relating to the same fund. This new feature would allow the user to clone the entire structure from an existing application and just change the name and surname of the investor.

The system will also allow you to define which entity types can be CLONED by users. This is done through the ENTITY RESTRICTIONS panel on entities.



For more information, contact us directly on info@kycportal.com or schedule your live demo with us today. If you are an existing client and you would like more information about this feature, please contact our CRM Team.