Information Exchange
Information exchanges can be used to enrich dossiers with data provided by a counterparty that cannot manage the dossier itself.
When performing an information exchange, the counterparty can be requested to provide data and documents as well as data related to the dossier or its associated parties. The counterparty can be requested to sign or confirm the gathered data at the end.
Depending on how the information exchange is created, we also speak about an Information Request versus an Information Delivery.
- Information Request: In this case the information exchange is created by a Financial Service Provider to request information from a chosen counterparty
- Information Delivery: In this case the information exchange is created by the counterparty itself to provide information to a chosen Financial Service Provider. See Direct Sales.
The strength of the platform is that party or personal data gathered during an outreach can be reused in other dossiers. This means that the counterparty does not have to provide the same data multiple times for different dossiers.
See Information Exchange for more information & configuration.
Counterparty​
A counterparty is the recipient of an information exchange request. There are three counterparty types:
| Type | Description |
|---|---|
INDIVIDUAL | A party (person) of type INDIVIDUAL |
INTERMEDIARY | A Financial Service Provider linked to the current Financial Service Provider |
EXTERNAL | Used only for submission groups created by external systems (e.g., gateway flow completions) - not user-selectable |
Counterparty individual​
When performing an information exchange to an individual, the counterparty can be requested to provide personal data and documents as well as data related to the dossier or its associated parties.
The individual can be requested to sign or confirm the gathered data at the end.
Configuration: To perform an outreach to an individual, one of two options can be used:
- Use the INVESTOR_FLOW module. The counterparty can be indicated in the responsibility matrix of the dossier and invited to complete the requested dossier data.
- Use the DOSSIER_INFORMATION_EXCHANGE module. The counterparty can be selected on the dossier and an information request can be initiated towards that individual.
Counterparty intermediary FSP​
When performing an information exchange to an intermediary FSP, there are some limitations compared to an information exchange to an individual:
- The intermediary FSP cannot be requested to provide data of the
IDENTITYresponsibility (because the personal data of the intermediary-FSP user is not relevant). - The intermediary FSP cannot be requested to provide data of the
SIGNATORIESresponsibility. - The information exchange won't be able to show test results, because those are also based on 'personal' data.
Configuration: To perform an outreach to another FSP, use the DOSSIER_INFORMATION_EXCHANGE module in combination with the INTERMEDIARY module. The intermediary can be selected on the dossier and an information request can be initiated towards that intermediary.
External counterparty​
Flow configuration​
What information that needs to be gathered during an information exchange of a dossier is defined by its corresponding dossier definition. Here we configure which flow definition needs to be used, the related dossier statuses, how the invitations can be sent, etcetera.
For example, the counterparty can provide the following information:
- Personal identity details, proof of identity (e.g., ID card, passport) and personal documents
- Details of the client of the dossier
- The UBO's (Ultimate Beneficial Owner) or related parties of the client (and details of those parties)
- Answers on customer specific questions related to the dossier, the client or the counterparty itself
- Financial information such as bank accounts, tax information
- Signatories
After providing the necessary data, it's possible to generate a PDF containing all the data gathered during the outreach, which can be signed or confirmed by the counterparty (depending on the configuration). The generated PDF is stored in the dossier for future reference.
Inviting the counterparty to complete the information exchange​
There are several options to invite the counterparty to complete the information exchange:
- The counterparty is invited via email
- The counterparty is invited via sms
- The counterparty is invited by sending a direct link through another channel (e.g. personal e-mail, automated system, ...)
When the counterparty is an individual, It' also possible to allow the FSP user to complete the outreach on behalf of the counterparty. This is known as the Impersonate Flow.
- If desired, an OTP code can be requested from the counterparty to confirm their presence during the completion of the information exchange.
These flow option definition can be linked to the dossier definitions
After the information exchange has been completed, the status of the dossier will be changed so the FSP user is notified that the data has been provided.
Security Checks​
In order to add an extra layer of security, it is possible to pose security questions.
It is possible to add the security checks for the INVESTOR_FLOW as well for the DOSSIER_INFORMATION_EXCHANGE, the settings are likewise.
For more information go to Security Checks