How onboarding works

Onboarding a client means building a fully documented, screened and accepted (or declined) client file. In BECCO Trust that process consists of six steps:

1. Create the client: register the new client and decide who fills in the onboarding form: you, or the client themselves via an email invitation.
2. The onboarding form: the client (or you, on their behalf) answers a guided questionnaire about themselves and their company, and uploads the required documents.
3. Shareholders & other parties: everyone with a significant role in the structure (UBOs, shareholders, directors) receives their own form to complete, or you fill that form in for them.
4. Verify the information: you check every party’s documents and details, and record per party that the information has been verified.
5. Screening: the people and companies involved are screened against sanction lists, PEP registers and adverse media.
6. Risk profile & decision: compliance judges the risk and management accepts or declines the client.

flowchart LR
    A["1. Create<br>the client"] --> B["2. Onboarding<br>form"]
    B --> C["3. Shareholders<br>& parties"]
    C --> D["4. Verify the<br>information"]
    D --> E["5. Screening"]
    E --> F["6. Risk profile<br>& decision"]

The client status shows where you are

The client status is updated automatically as the work progresses. It is shown in the client list and on the client page:

Status	Meaning	Who acts
Initial	The client has been created, but nobody has started filling in a form yet.	The client (or you), step 2
Pending information	One or more parties are busy filling in their forms.	The client and their parties, steps 2–3
Pending verification	Every party has handed in their part; the information can be verified.	You, step 4
Pending compliance	Every party has been verified. Screening can be run and compliance can judge the file.	Compliance, steps 5–6
Compliance agrees / Compliance disagrees	Compliance has given its judgement on AML/CFT compliance.	Management, step 6
Accepted / Declined	Management has made the final decision.	Nobody: the process is finished

Statuses update automatically

The client status is always the lowest status of its parties: as long as one party is still Pending information, the client stays Pending information too. It is recalculated every time something relevant happens: a form is signed, a document is uploaded, a party is verified. You never set a client’s status by hand.

The two exceptions are the compliance judgement and the management decision. Those are two fields on the risk profile, and they override the party-derived status.

And a status per party

Next to the client status, every party has its own status, shown in the Status per party column of the client list and in the party list on the client’s Information tab.

Party status	Meaning
Initial	The party exists but hasn’t started yet.
Pending information	The party is filling in their form, or documents are still being collected.
Pending verification	The party signed and handed in everything (or, for a company, the required documents are in); ready to be verified.
Pending compliance	You have marked the party’s information as verified.
Compliance agrees / Compliance disagrees	Compliance has given its judgement on the client; every party follows it.

See Statuses explained for what moves each status forward.

Who does what

A typical onboarding involves three roles on your side (see Team roles):

• The account manager creates the client, guides them through the onboarding, and verifies the information and documents of every party. The account manager can also fill in the forms themselves: the client’s own form as well as the personal forms of the UBOs, shareholders and directors. In that case the party receives no invitation email; see Step 3.
• The compliance officer runs the screening, sets the final risk classification and answers whether the MLCO agrees with AML/CFT compliance.
• Management (the CEO or a managing director) gives the final approval. This is a built-in four-eyes control: the person who approves is never the person who judged the compliance.

What happens automatically

While you work through the steps, the system takes care of a number of things:

• Emails: parties receive their invitations, and the assigned team member is notified when a form is signed. See Emails sent by the system.
• Audit trail: every action, status change and email is recorded on the client’s Audit trail tab.
• Ongoing monitoring: after the client company has been screened, it is monitored daily at Stracket. See Ongoing screening.

Continue with Step 1: Create the client.