KYC Policies

To configure your KYC policies, navigate to Settings > KYC. You can customize the KYC requirements for different client groups, personalize the KYC form and necessary information, and configure client authentication settings to enhance security. This allows you to tailor the KYC process to your specific business needs and compliance standards.

1. KYC Configuration

In the KYC configuration settings page, you can define the prohibited actions for clients who have not completed their KYC. This means that clients without completed KYC will be restricted from performing certain actions.

To configure the prohibited actions, follow these steps:

Step 1

Click on the "Edit" button.

Step 2

1. Select the desired prohibited actions.

2. Click on "Save" to save the changes.

   

Step 3

1. If a client attempts to perform a prohibited action before completing their KYC, a popup notice will appear, informing them to complete their KYC first.

   
2. Clients can click on "KYC Verification" to be redirected to the KYC page and complete the KYC process.

   

2. KYC Dynamic Form

In the KYC dynamic form settings page, you have the ability to create KYC forms for different client types and customize the required fields and documents that clients need to submit. This allows you to tailor the KYC process based on the specific requirements for each client type.

Creating New Form

To create a new KYC form, follow these steps:

1. Click on "Add Form".

   
2. Enter the form name in the respective languages. Please note that form names cannot be duplicated and should not exceed 100 characters.

3. Click "Confirm" to save the form.

   
4. The newly created form will now be displayed in the side menu for easy access.

   
5. When clients are completing the KYC process through the CRM Client Portal, they will be prompted to select the appropriate KYC form that is applicable to their client type. This ensures that clients provide the required information and documents specific to their profile, streamlining the KYC submission process.

   

Form Type Settings

You have the option to add a description to guide clients in selecting the appropriate KYC form. This description can provide clients with instructions or information to help them determine which KYC form is applicable to their specific client type. It serves as a helpful reference to ensure clients choose the correct form for their KYC submission.

To configure the form type settings, follow these steps:

1. Click on the settings icon.

   
2. Enter your description in the respective languages.

3. Click "Confirm".

   
4. By setting up the form type settings with the appropriate description, clients submitting their KYC requests through the CRM Client Portal will be able to view the description and easily understand which form is applicable to their specific client type.

   

Field Groups

In order to enhance the organization and structure of your KYC form, you have the option to add field groups. Field groups allow you to section out your KYC form into various sections, making it more organized and user-friendly.

To create field groups, follow these steps:

1. Click the settings icon in the KYC form settings.

   
2. Add field groups by clicking on "Add Field Group."

   
3. Fill in the name of the field group in the respective languages.

   
4. Select "Enable to add multiple data" if you want to allow clients to add more than one set of data for this field group (e.g., multiple bank account details).

   
5. Click "Save" to save the field group.

6. When clients submit their KYC requests via the CRM Client Portal, the KYC form will be organized into sections based on the field groups that have been set.

   

   

KYC Form Fields

You have the flexibility to add your own fields and set the requirements as needed. This allows you to collect specific information from clients that aligns with your business requirements and compliance regulations.

To create new form fields, follow these steps:

1. Click on "New Field".

   
2. Select the desired field type from the available options (e.g., text, drop-down selection, file upload, etc.).

   
3. Fill in the necessary details for the field, such as field label, validation rules, and any additional options specific to the selected field type.

   
4. Click on the "Required" checkbox if you want to make this field a mandatory (required) field in the KYC form.

5. Choose the field group where you want to place the field within the KYC form.

   
6. Click on "Save" to save the new field configuration.

3. Sumsub Settings

Sumsub is a platform that specializes in identity verification and compliance solutions, particularly in the field of Know Your Customer (KYC) and Anti-Money Laundering (AML) processes. They provide tools and services to businesses that require robust verification and due diligence procedures for their clients. Sumsub offers features such as document verification, facial recognition, and risk assessment, helping businesses ensure the authenticity and compliance of their customers. Their platform aims to streamline and automate the verification process while maintaining high standards of security and regulatory compliance.

SumSub has been seamlessly integrated to the CRM, allowing you to configure an authentication process that strengthens your KYC and due diligence checks for clients. By implementing these authentication measures, you can have greater confidence in the legitimacy of your clients and mitigate potential risks associated with fraud or identity theft.

Marketplace Installation & Permission Settings

To begin using SumSub, simply install it through the CRM marketplace.

1. Go to marketplace, look for SumSub and click "Obtain".

   
2. You will be redirected to a page providing you with a brief background SumSub. Click "Obtain" to proceed with the installation.

   
3. Upon installation of SumSub, you will need to ensure the respective permissions are enabled.

   • KYC Verification - this permission allows users to view the SumSub verification results on the client detail page and request page.

     
   • Read Sumsub Settings - this permission allows users to view SumSub settings

   • Update Sumsub Settings - this permission allows users to edit SumSub settings

     
4. Once the respective permissions have been granted, you will be able to view "SumSub Settings".

   

Register SumSub Account

To register and setup your SumSub account, follow these steps:

1. Go to SumSub website https://sumsub.com/ and click "Sign Up".

   
2. Fill in the necessary fields and click "Sign Up".

   
3. Key in the email OTP sent to your email address.

   
4. Set the password to your Sumsub account and click "Complete".

   
5. Click "Go to Login".

   
6. Key in your username and password and login.

   
7. On the first login, you will need to setup Two-Factor-Authentication (2FA).

   
8. Once 2FA is setup, you will successful login to your SumSub account.

9. Navigate to "Billing" and select your plan by clicking "Choose your plan". By default, SumSub has a 14 day free trial (subject to changes).

   
10. Select your preferred plan and fill in your payment details.

    
11. Once you have selected your plan and filled in your payment details, you will be switched to "Production" environment.

    

Configure KYC Levels on SumSub

You will need to configure the various KYC Levels on SumSub. Different KYC Levels will have different requirements and verifications that your clients will need to complete.

1. On SumSub, navigate to "Integration" and click "Create Level".

   
2. Fill in "Level" Name and click "Save.

   
3. Configure the requirements for each KYC Level and click "Save".

   

Obtaining SumSub Token & Secret Key

The SumSub Token & Secret Key is required in order for you to connect your SumSub account to the CRM. You can obtain them by following the steps below:

1. Navigate to "Dev Space - App Tokens".

2. Click "Generate App Token".

   
3. Fill in the Token Name.

4. Click "Save".

   
5. The token and secret key will be generated.

   
6. Please save the Token and Secret Key separately. After clicking “All is saved”, you will no longer be able to view the data for security reasons.

Connecting SumSub to CRM

SumSub on CRM is categorized into 2 different sections:

1. Document Verification - this involves verifying the authenticity and integrity of the documents uploaded by clients, which allows brokers to ensure that the documents are not tampered with.

2. Authentication - this refers to any other verification steps setup on SumSub such as face recognition, phone verification or risk assessment questionnaires.

A) Document Verification Setup

1. Navigate to KYC > SumSub Settings on the CRM.

   
2. Click the "Edit" icon.

   
3. Turn on "File Verification".

4. Key in the following:

   • Token

   • Secret Key

   • Level Name - please ensure this corresponds to the level name on SumSub

     
5. The recommended setting for this KYC level on SumSub is to include "Identity Document" only.

   
6. Complete the File Validation Configuration.

7. You will need to correlate the Sumsub file fields with the KYC file fields one by one to ensure that the file uploaded to Sumsub for verification is referenced to the correct document uploaded by clients.

8. Sumsub Field & KYC Form - Group

   • By default, the CRM will list out all the KYC forms you have setup.

   • You will need to configure the File Validation Configuration for all KYC forms.

   • For each KYC form, you will need to select the KYC form fields group.

     
9. Sumsub File Type

   • By default, all the selected file types on SumSub will be reflected here.

     
   • You can click the dropdown list to select your preferred file types.

     
10. Front and Back

    • You will need to select which KYC field the file type corresponds to.

      
11. You can add or delete file types by clicking on the respective icons.

    
12. Click "Save".

    

B) Authentication Setup

1. Navigate to KYC > SumSub Settings on the CRM.

   
2. Click the "Edit" icon. Turn on "Authentication".

3. Key in the following:

   • Token

   • Secret Key

   • Level Name - please ensure this corresponds to the level name on SumSub

     
4. Brokers will need to set the Authentication reminder policy.

   • Do Not Remind - This means that clients will not be reminded to complete their authentication. This is the default selection.

   • Remind Each Time You Log In - This means that clients will be reminded to complete their authentication each time they login to the CRM. A popup will appear when clients login. Clients can click "Authenticate Now" to complete the authentication or "Cancel" to close the popup.

     
   • Mandatory Verification - Brokers will be able to select which functions will be disabled if client have yet to complete the authentication. If authentication is not completed and client attempts to perform any of the selected functions, a popup notice will appear to inform clients to complete authentication first.

     
5. Click "Save".

   

Document Verification

1. When brokers are reviewing KYC or Trader Registration requests, they will be able to see the following:

   • SumSub Verification Results

   • Document Verification

     
2. Before document verification, when brokers click onto "Sumsub Verification Results", there will be no data available.

   
3. To proceed with the document verification, click "Document Verification".

   
4. Fill in the Country, File Type and click "Verify".

   
5. The document will be submitted to SumSub for verification.

6. Sumsub Verification Link will display the SumSub ID and the timestamp of when the verification was submittted to SumSub.

   
7. Clicking onto the SumSub ID will open a tab showing the SumSub verification details.

   
8. Once document has been verified, broker can proceed to approve or reject the client's request.

Authentication

The Authentication tab will be visible to clients if the broker has enabled SumSub authentication on the CRM Backoffice Portal.

To authenticate their account, clients will need to follow these steps:

1. Clients will be able to see their authentication status as "Unverified".

2. To proceed to authenticate their account, click "Authenticate Now".

   
3. Sumsub popup will appear. Agree to the terms and click "Next".

   
4. Clients will be able to view the instructions and click "I'm Ready".

   
5. Clients can also opt to continue the verification on their mobile phones by clicking "Continue on phone". A link and QR code will be provided for the client to continue the process on their phones.

   
6. Follow the instructions and complete the selfie check. You will need to have a device with front facing camera to complete this.

7. Once completed, clients will be able to see an overview of the steps done. Click "Next" to proceed.

   
8. Once completed, clients will be notified that their data is being processed and the status of the authentication will be updated once completed.

   

Brokers will be able to view the Authentication status of clients via the CRM Backoffice Portal.

1. On the Client Details Page, navigate to "Authentication".

2. You will be able to see the following details:

   • Status

   • Validation Results - you can click onto it to view the details on SumSub.

   • Last Verified Time