1. KYC Forms Management

KYC Forms are used for collecting Entities' responses to predefined questions. They can be uploaded to the Entity card via API by the Client or directly submitted to the Pingwire system through a KYC Form link.

Form Setup and Submission:

• Setup Process: The KYC Form module allows the setup of one or several forms in the database, each with a unique link interface for the Client to use with the Entity.
• Diverse Applications: Clients may utilize different KYC Forms for varied purposes, such as CDD and EDD.

Form Access and Tracking:

• KYC Form Tab: Each Entity has a dedicated tab listing all forms they have responded to, along with metadata like submission time.
• Manual Distribution: Users can access and manually send out KYC Form links through this view.

Verification Process:

• Entities' submitted KYC Forms can be verified as outlined in section 3, enabling Clients to conduct thorough identification and verification processes.

2. KYC Data

The KYC Data tab on each Entity's profile displays information sourced from third parties, distinct from data provided by Entities themselves or User. This data typically includes:

• Automatic Collection: Data is usually gathered automatically through predefined processes.
• Manual Collection: Users also have the capability to manually collect data from selected vendors directly within the KYC Data tab.

This feature ensures comprehensive and up-to-date third-party information is readily available for each entity.

3. Conflict Resolution Process

The KYC Form module is integrated with the Conflict Resolution Process to enhance data accuracy and consistency. Key features include:

• Discrepancy Detection: The Pingwire system is able to automatically highlight discrepancies or conflicts between Entities' responses on KYC Forms and the collected KYC Data or manual inputs.
• Selection of Acceptable Values: Users can specify which values the Pingwire system should consider as acceptable for each Entity to be used in rules (e.g. identification, ownership, representation).
• Facilitating Identification and Verification: This feature enables Clients to conduct thorough and adequate identification and verification processes by ensuring data integrity and resolving conflicts effectively.
• Audit track: The Conflict Resolution Process allows for manual input and the selection of acceptable values, enhancing data accuracy and user control with several key features:
  • Users can add comments to provide context or explanations for the manually inputted data and selected values.
  • There is an option to upload relevant documents, further substantiating the manual inputs or chosen acceptable values.
  • All manual inputs and selections, along with accompanying comments and document uploads, are fully traceable. This ensures a transparent and accountable record of all actions taken within the system.

Each time the Pingwire system collects data, it is mapped to specific data points, which are crucial for identifying potential conflicts. This process involves:

• Data Point Mapping: All gathered data is associated with predefined data points within the system.
• Detecting Conflicts: When different sources yield varying values for the same data point, this discrepancy is flagged as a potential conflict.
• Applying Conflict Resolution: The Conflict Resolution Process is then activated to address these discrepancies, ensuring data consistency and accuracy.

This mechanism is essential for maintaining the integrity of data within the Pingwire system, particularly when dealing with information from multiple sources.