To view your verifications, go to KYC > Results > Organisation tab. Once you submit a KYB check, it can go to two interim statuses, "Pending" and "Info", or two end statuses "Verified" and "Rejected".
When the verification status is "Pending", it means that the KYB submission has been received and is waiting on bronID to perform the verification process. You will receive an email, a notification in the Portal and a webhook when the status of this verification is updated and goes to the next state.
In some cases, the verification status will be "Pending" for an extended period. This can happen if the processing time of the data source which needs to be accessed is long (24+ hours), the data source was not available at the time of submission and bronID has to retry the verification, the data source experienced an error processing the request, or another type of error occurred.
The "Info" status means that bronID requires you to provide additional information such as personal details of the listed UBOs or upload a document (e.g. Deed of Variation for the Change of Trust Name, Unit Register, etc.). To resolve the Info request and see what you need to provide, select the organisation from the Results table, and the requested information will be outlined in the "Required Action" tab of the right side slider.
Commonly Required Actions:
Verify Individuals: A likely scenario is bronID to request the identified UBOs of the organisation to be verified. By clicking on the linked names, you will be redirected to an individual verification flow for each of the identified UBOs.
Provide Documents: bronID may also request you to upload more information to facilitate the verification process. To upload a requested document, click on the link with the name of that document in the "Required Actions" tab.
bronID may include guidance comments in the Notes section to make the interpretation of the Info request easier, such as the reason why a specific document or UBO was requested.
Once the required actions are completed, the verification status will go to either Pending or Verified. You will receive an email, a notification in the Portal and a webhook when the status of this verification is updated and goes to the next state.
The bronID verification process is complete once the verification status is "Verified". This means that all the requirements in accordance with the bronID's ID Verification Procedural Manual have been satisfied. You can see the IDV Certificate in the right side slider, or if you go to Show Details > Documents Tab. You will receive an email, a notification in the Portal and a webhook when the status of this verification is updated and the verification is completed.
If the verification status is "Rejected", bronID was unable to verify the submitted organisation using the information provided. You will receive an email, a notification in the Portal and a webhook when the status of this verification is updated to "Rejected". Review the organisation information and re-attempt a new verification.
Often the reason for a rejected verification is because the submitted data is incorrect or the organisation with the submitted name and number is not formally incorporated or established. bronID will include guidance comments in the Notes section providing the reason(s) why the entity was rejected.
Possible reasons a "Rejected" verification status are;
- Organisation Type is incorrect;
- Organisation Name is incorrect;
- The organisation cannot be found in any independent and reliable databases;
- The organisation does not exist in the selected country;
- The organisation is not currently registered in the relevant jurisdiction.
Uploading documents in the Documents section of a "Rejected" entity does not re-attempt or update the verification in the same way it does with an "Info" request. However, you can still add supplementary documentation for the purposes of record-keeping in the bronID Portal.