V7.22.0 - Enhanced KYC, Account Management & Compliance Features
Learn about all the details of all our recent CRM updates here.
Last updated
Learn about all the details of all our recent CRM updates here.
Last updated
Released Date - 13 September 2024
Our latest release brings more control to your KYC, compliance, and account management processes. Key updates include flexible KYC configurations, improved status management with SumSub (our integrated KYC vendor), automated owner assignment, and the ability to apply client restrictions by nationality—ensuring seamless regulatory adherence. We’ve also expanded reporting for trading competitions to improve operational efficiency. Read on for more details!
Flexible KYC Configuration: You can now decide if KYC is required when opening demo accounts, offering greater versatility in managing the client onboarding process.
Auto-Owner Assignment Based on Referral: Automatically assign a client the same "owner" as their referral, simplifying account management for your sales team.
Nationality Restrictions: Strengthen compliance by blacklisting accounts based on nationality, ensuring adherence to regulatory requirements.
Dynamic SumSub Status Updates: Modify your clients' SumSub status as needed, enabling swift responses to monitoring triggers like ID expirations.
Trading Competition Report Access: Easily export comprehensive reports, including approval lists, participant accounts, trade history, and prize details, for in-depth analysis.
Previously, under "KYC Configuration," selecting the "Create New Accounts" option mandated that clients complete KYC verification before they could create any new trading account, encompassing both live and demo accounts.
This functionality has now been enhanced and divided into two distinct options: "Create Live Account" and "Create Demo Account." This change allows brokers greater flexibility in deciding which account type requires KYC completion.
You can now automatically assign a client the same "owner" as their referral, simplifying account management for your sales team.
To do so, follow these steps:
Navigate to Settings > Login/Registration Settings.
Select the "Login/Registration Method" tab and click the "Edit" icon.
You can now strengthen compliance by blacklisting accounts based on nationality, ensuring adherence to regulatory requirements.
To do so, follow these steps:
Navigate to Settings > Blacklist.
Select the "Blacklist Nationality" tab.
Click "Create".
You can now modify your clients' SumSub status as needed, enabling swift responses to monitoring triggers like ID expirations.
For subsequent modifications, you can only choose between the following options:
Verified
Verification Failed
The option "Unverified" will not be available.
You can now easily export comprehensive reports, including approval lists, participant accounts, trade history, and prize details, for in-depth analysis.
To download Trading Competition Approval List, ensure that the appropriate permissions are enabled.
Once permissions are granted, you can download the approval list by clicking the "..." icon and selecting "Download."
Furthermore, you are able to download the following Competition Statistics:
Competition Accounts
Trade History
Prize Report
To download the reports, simply click onto the "Download" icon.
If your clients attempt to register an account and their nationality is on your blacklist, they will encounter an error and will not be able to proceed with the registration.