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Company Associated Parties

Creating a New Company Associated Parties​

  • Prerequisite​

    • User must have at least one On-Boarded customer with Customer Type as "COMPANY". To create a new customer, click here.

The objective of adding company associated parties is to add information about the key people/entities in the company. which are responsible for making descision inside the company. They are responsible for making key decisions related to the company's operations and are subject to due diligence and know your customer (KYC) checks. Providing accurate and complete information about the associated parties of a company is an important part of the onboarding process for that company.

  • Supported Associated Parties​

The process of creating Associated Parties involves selecting the Associated Party Types from the following options. Users have the option to choose multiple Associated Party Types:

  • Beneficial Owners
    • Individual Beneficial Owners
    • Entity Beneficial Owners
  • Executive Officer
  • Formation Officer
  • Known Grantor
  • Trustee (Co Trustee)
  • Known Beneficiary
  • Account Owner
note

The type of Associated Party is depended on the Business Entity Type during customer creation.

info
  • For individuals within same company, no two individuals should have same
    • Email
    • SSN number
    • Phone number

There are following scenarios for an Associated Party in a Company Association.

  • Scenario #1 - Beneficial Owner of 10% or more [optional - allow from zero up to 10 individuals]

  • Scenario #2 – Executive Officer [required - allow only one. Must be Individual]

  • Scenario #3 – Formation Officer [required - allow only one. Must be Individual]

  • Scenario #4 - Signatory [required – allow from one up to unlimited – Must be Individual]

  • Scenario #1 – Known Grantor(s) [optional - allow multiple records]

  • Scenario #2 – Trustee [required - must include at least one record]

  • Scenario #3 – Known Beneficiary(ies) [optional - allow multiple records]

  • Scenario #1 – Account Owner [required - allow only one. Must be Individual]

  • Scenario #2 - Signatory [required – allow from one up to unlimited – Must be Individual]

info
  • Request payload contains isIndividualOwner field that helps the system identity the Beneficial Owner Information. It is of type boolean, when the isIndividualOwner flag is set to true, it is Individual Beneficial Owner otherwise it is Entity Beneficial Owners.
  • A Driver's License for identificationDoc.documentType field is not accepted from a Non USA Entity Beneficial Owner.
  • All Beneficial Owners must be linked with new created or existing associated parties.

The Company Associated Parties request payload varies depending on the Business Entity Type selected while creating a new customer and the selected Associated Party Type.

Endpoint:​