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Know Your Customer & Anti Money Laundering

Dennis

Last Update vor 2 Jahren

Trakti offers open APIs to easily integrate our platform with third party services facilitating the sharing of all information and documentation our contract negotiation and contract management framework creates with your preferred systems.


Trakti provides Know Your Customer (KYC) and Anti Money Laundering (ALM) integration with third party software to facilitate onboarding and simplify suppliers and clients checks.


To set, activate or even delete your KYC and AML integration you need to access your Profile Settings.


You can access the Profile Settings menu from the three dots on the right side of the top navigation bar, and the one from the left navigation menu below your account image.

Once your menu is open select Profile settings.


The platform will load your Profile page where you have several settings options.


Select the Integrations tab where you can activate, remove or add integrations with third party tools.


Trakti partners with W2 Global Data for KYC and AML checks and can perform multiple checks for the same contract model. W2 has a wide portfolio of products, ranging from checking against datasources such as global Sanctions list, Identity checking using credit reference agencies, document verification and many more. Services are accessed through the API via Bundles. 

After signing your contract and after the completion of your onboarding with W2 you will receive an API Key that would permit the integration with your Trakti account.


Click on Enter W2 API Key, the system will ask you to paste and save the W2 key in a specific field.

After saving the API key you will have to set all the Bundles.


A bundle is a collection of one or more services from W2. Services can be ordered in a bundle in any way you choose during the onboarding with W2. When you call the W2 API you specify a bundle name. By collecting services in a Bundle, only one API call is then required to execute all services in that Bundle.


Bundles are configured by W2 and have to be listed in Trakti to connect your contracts to KYC AML checks.


An example of Bundle can be found here

For more details please check the following W2 documentation 

https://developer.w2globaldata.com/getting-started/


Therefore you can add your Bundle in Trakti one by one by clicking on the Add Bundle button. 

Or you can import as Bundle data in json format.

As soon as you finalise the insertion of all the entries following one or the other method, the list of all the available bundles will be visible on the same page.

You can add or remove a bundle anytime by clicking on the dust bin icon on the right.


Now all the bundles are ready to be used in one of your models. Please select one model in draft stage or create a new one and after selecting the right place, click on the Trakti icon or right click on the same spot, this will open up the menu where you have to select KYC/AML field. Now the editing box will open on the right side of the model.

In a dropdown menu you can see all the bundles you have previously activated in Trakti. You can list all the checks you need, you can even allow all checks for different countries in a unique field or you can just list the ones you need in case you have a model focused on a specific market (eg. US).

Enter a label and a note to give instructions to the counter party. In case you need to run checks for several individuals please remember to flag the Allow Multiple checkbox. Then save to finalise the creation of the field that will now appear in your document.

Now your KYC/AML field is in your model. You can edit anytime to add more checks, to change the Label or the Note or to delete it, by clicking on the edit button of the field accessible by clicking on the field in the model. You can also do that during deal setup by entering in the edit function.

After saving, by clicking on the Preview button you can check how the model behaves. You can see all the fields the bundles you inserted require and you can check if you correctly flagged the Allow multiple checkbox.

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