The bronID tools offer a high degree of flexibility, allowing you to customise some of the IDV rules and the types of data/documents that are acceptable in accordance with your internal KYC/KYB procedures for identity verification.
To configure the IDV rules according to your unique verification needs, simply follow these simple steps:
- In the top right corner, click on your account and click on the "Settings" option in the menu.
- Select "Compliance configuration" from the options.
- Select "IDV Rules" from the options.
- Use the toggle button to switch on or off any of the listed conditions that align with your internal KYC/KYB procedures for identity verification.
By configuring the IDV rules in this way, you can tailor the identity verification process to align with your organisation's internal KYC/KYB procedures, enhancing the accuracy and efficiency of the verification process.
These options include:
- Resolve non-beneficially held shares: If this toggle is turned on, bronID will request a Trust Deed for the shares that are listed as non-beneficially held in the register records (applies only to 25% or more shareholding).
- Accept only certified documents: If this toggle is turned on, bronID will only accept certified copies when executing a KYB procedure on entities where a document upload is required (e.g. trusts, partnerships).
- Request an independent document to identify the Trustee of an SMSF: If this toggle is turned on, you must upload a reliable independent document (e.g. Trust Deed, Deed of Variation, etc.) for bronID to confirm that the entered Trustee of an SMSF is correct.
- Request named discretionary beneficiaries: If this toggle is turned on, bronID will request all named discretionary beneficiaries for verification when processing Discretionary Trusts (Unregulated Trusts).
