The Party Data Model efficiently collects data to represent hierarchical structures, enabling streamlined identity verification and AML checks for individuals and complex entities. It gathers essential details such as contact information, residency, tax IDs, and official documents. For complex entities, verification takes place both at the entity and beneficial owner levels, ensuring comprehensive vetting that meets regulatory standards and improves risk management.

CIP Verification Sessions

Consider a simple case of an individual party with a corresponding individual investment account. When a verification is triggered from the individual investment account, a verification session is created at the account level, which is linked with a related verification session on the individual party. If the verification of the individual party fails, then the account level verification is also deemed unsuccessful. Subsequently, you can adjust the party level information or provide additional documentation to substantiate the verification type and create a new verification session.

{
  "id": "73685128-0910-415f-9d47-34845e543451",
  "verification_type": "identity",
  "status": "not_started",
  "status_error_message": null,
  "status_error_code": null,
  "party_id": "1c46a6df-dcce-4ebb-af5b-b3e18d230d6e",
  "related_sessions": [
    {
      "id": "f82d295b-af4f-4d73-aa15-08083f577f94",
      "verification_type": "identity",
      "status": "not_started",
      "status_error_message": null,
      "status_error_code": null,
      "verification_results": [],
      "party_id": "d09192f2-5008-4062-8851-78afd7e5a13c",
      "created_at": "2023-05-26T16:09:30.099747Z",
      "updated_at": "2023-05-26T16:09:30.100764Z",
      "started_at": null
    }
  ],
  "created_at": "2023-05-26T16:09:30.014276Z",
  "updated_at": "2023-05-26T16:09:30.015084Z",
  "started_at": null
}

{
  "id": "73685128-0910-415f-9d47-34845e543451",
  "verification_type": "identity",
  "status": "pending",
  "status_error_message": null,
  "status_error_code": null,
  "party_id": "1c46a6df-dcce-4ebb-af5b-b3e18d230d6e",
  "related_sessions": [
    {
      "id": "f82d295b-af4f-4d73-aa15-08083f577f94",
      "verification_type": "identity",
      "status": "pending",
      "status_error_message": null,
      "status_error_code": null,
      "verification_results": [
        {
          "verification_subtype": "personal_information",
          "status": "approved",
          "status_error_message": null,
          "status_error_code": null
        },
        {
          "verification_subtype": "document_information",
          "status": "pending",
          "status_error_message": null,
          "status_error_code": null
        },
        {
          "verification_subtype": "risk",
          "status": "pending",
          "status_error_message": null,
          "status_error_code": null
        },
        {
          "verification_subtype": "aml",
          "status": "pending",
          "status_error_message": null,
          "status_error_code": null
        }
      ],
      "party_id": "d09192f2-5008-4062-8851-78afd7e5a13c",
      "created_at": "2023-05-26T16:09:30.099747Z",
      "updated_at": "2023-05-26T16:09:30.100764Z",
      "started_at": "2023-05-26T16:09:30.801764Z"
    }
  ],
  "created_at": "2023-05-26T16:09:30.014276Z",
  "updated_at": "2023-05-26T16:09:30.801764Z",
  "started_at": "2023-05-26T16:09:30.801764Z"
}

{
  "id": "73685128-0910-415f-9d47-34845e543451",
  "verification_type": "identity",
  "status": "approved",
  "status_error_message": null,
  "status_error_code": null,
  "party_id": "1c46a6df-dcce-4ebb-af5b-b3e18d230d6e",
  "related_sessions": [
    {
      "id": "f82d295b-af4f-4d73-aa15-08083f577f94",
      "verification_type": "identity",
      "status": "approved",
      "status_error_message": null,
      "status_error_code": null,
      "verification_results": [
        {
          "verification_subtype": "personal_information",
          "status": "approved",
          "status_error_message": null,
          "status_error_code": null
        },
        {
          "verification_subtype": "document_information",
          "status": "approved",
          "status_error_message": null,
          "status_error_code": null
        },
        {
          "verification_subtype": "risk",
          "status": "approved",
          "status_error_message": null,
          "status_error_code": null
        },
        {
          "verification_subtype": "aml",
          "status": "approved",
          "status_error_message": null,
          "status_error_code": null
        }
      ],
      "party_id": "d09192f2-5008-4062-8851-78afd7e5a13c",
      "created_at": "2023-05-26T16:09:30.099747Z",
      "updated_at": "2023-05-26T16:09:30.100764Z",
      "started_at": "2023-05-26T16:09:30.801764Z"
    }
  ],
  "created_at": "2023-05-26T16:09:30.014276Z",
  "updated_at": "2023-05-26T16:09:30.801764Z",
  "started_at": "2023-05-26T16:09:30.801764Z"
}

{
  "id": "73685128-0910-415f-9d47-34845e543451",
  "verification_type": "identity",
  "status": "failed",
  "status_error_message": null,
  "status_error_code": null,
  "party_id": "1c46a6df-dcce-4ebb-af5b-b3e18d230d6e",
  "related_sessions": [
    {
      "id": "f82d295b-af4f-4d73-aa15-08083f577f94",
      "verification_type": "identity",
      "status": "failed",
      "status_error_message": null, //Review with richard
      "status_error_code": null,
      "verification_results": [
        {
          "verification_subtype": "personal_information",
          "status": "approved",
          "status_error_message": null,
          "status_error_code": null
        },
        {
          "verification_subtype": "document_information",
          "status": "approved",
          "status_error_message": null,
          "status_error_code": null
        },
        {
          "verification_subtype": "risk",
          "status": "failed",
          "status_error_message": "Party from sanctioned country",
          "status_error_code": "risk_sanctions"
        },
        {
          "verification_subtype": "aml",
          "status": "failed",
          "status_error_message": "PEP verification flag breaching threshold",
          "status_error_code": "aml_pep"
        }
      ],
      "party_id": "d09192f2-5008-4062-8851-78afd7e5a13c",
      "created_at": "2023-05-26T16:09:30.099747Z",
      "updated_at": "2023-05-26T16:09:30.100764Z",
      "started_at": "2023-05-26T16:09:30.801764Z"
    }
  ],
  "created_at": "2023-05-26T16:09:30.014276Z",
  "updated_at": "2023-05-26T16:09:30.801764Z",
  "started_at": "2023-05-26T16:09:30.801764Z"
}

Investor Profile Verification Result

{
  "id": "6b4a811c-718d-46ab-849c-609000601fd3",
  "party_type": "individual",
  "verifications": {
    "identity": "approved"
    ...
  }
}

Database Verification

Persona is our go-to KYC/AML provider for worldwide identity checks. For individual investor profiles, we verify using the national_id.

Government ID Verification

For U.S. investors, if database verification falters, an uploaded Government ID becomes mandatory. International investors need to provide a Government ID irrespective of database verification outcomes. While passports are preferred for international investors, we may consider other IDs based on specific needs.