The automated processes that can be used to complete or assist in passing tasks.

They replace manual work that would otherwise be needed to get information from data providers, such as gathering all company filings from a corporate registry, or performing actions using data providers, such as running an electronic identity check. In addition to saving the time it would take to perform these actions manually, checks ensure information is displayed in a clear and consistent way that’s easy for users to read.

Multiple data providers can be assigned to one check, so if one data provider fails, another is tried. Checks can also be specific to a profile’s country. For example, you can specify that Companies House is always used as the data provider when a company filings check is performed on a company incorporated in the UK.

A permanent record is kept of every automated check performed on a profile, which means that a user can visit any profile to see a snapshot of every check that was run and the information that was used to run it. For example, a snapshot of an eKYC check displays the name originally used to run the check, even if the profile’s name has changed.

Passfort has a defined data structure that captures the majority of compliance use cases, but if there is additional data you'd like to capture, you can use custom fields.

Configure them for individual profiles and/or company profiles, and choose from a wide range of information types, such as text, number, currency, multiple choice, and more.

Custom fields can be used in Smart policies and Risk models.

You can also map them to form questions, which allows you to send customer requests asking them to complete their own details.

The third-party service used to run checks, for example, Experian, Companies House, or Onfido.

When you run a check from Passfort, the profile details are sent to the data provider, which performs the check and returns the result.

Each data provider has its own way of performing checks, which means the available configuration options depend on the data provider you choose.

Learn more about configuration options and configuring data providers.

The people who have access to your Passfort account. These are typically the people you work with.

Every user is assigned one or more user roles which determine which actions they can perform in Passfort, for example, adding new applications, or managing other users.

Roles can be assigned at the product level, meaning that a user can be given permission to perform actions on specific products only.

Learn more about user roles.

The products or services that profiles can apply for, for example, a current account or credit card.

Every product has at least one smart policy, which is the set of rules that determines which due diligence measures are required to onboard profiles. If both individuals and companies can apply for the product, the product has one smart policy for individual profiles and one smart policy for company profiles.

If you have Risk configured, a product also has at least one risk model. The risk model assigns risk levels to profiles' product applications. If both individuals and companies can apply for the product, there is one risk model used for individual profiles making applications and one risk model used for company profiles making applications.

The process of onboarding profiles to products. A profile may be going through multiple product applications at the same time.

Every product application has the following process:

Learn more about new product applications.

The applicants and customers currently going through your onboarding processes. One profile is created per applicant or customer.

There are two profile types: individual profiles, which are used for people, and company profiles, which are used for companies.

The profile’s type determines the kind of details stored about the customer/applicant, for example, individual profiles have a date of birth while company profiles have an incorporation date, the type of tasks the profile's product applications can have, and the type of checks that can be run on the applications. But all profiles, regardless of type, go through the same product application onboarding and monitoring processes.

The rules used to evaluate the risk level of a profile's product application.

Risk models can only be used if you’ve purchased the optional Risk module. Contact us to find out more.

Risk models are specific to profile type, either individual or company, meaning that a risk model is always applied to either individual profiles or company profiles.

Every risk model has its own risk factors, which are chosen by you. Risk factors are evaluated against the profile. Examples of risk factors include age, nationality, and PEP status. See the full list of risk factors.

When you add a risk factor, you also control whether it’s required, meaning it must be used to calculate a risk level, or non-required, meaning the factor will only be used in the calculation if the relevant information is available.

You assign a risk score to each risk factor. This is a numerical value used to determine the significance of the risk. A higher risk score indicates that the risk factor is considered to be of greater risk.

For example:

When a profile applies for a product, the application's risk score is calculated using all required risk factors and any available non-required risk factors.

A risk level is a label that’s assigned to the product application based on the total risk score. You choose which risk levels are assigned for the risk scores.

For example:

If a profile does not have the information needed to calculate a required risk factor, for example, if the profile’s age has been left blank and Age is a required risk factor, the application's status is set to Requires risk score and a user must manually add the missing data to the profile before the product application can progress.

Smart policies use risk levels to determine whether to assign specific onboarding tasks or reject applications automatically. If profile data changes, for example, an individual ages from 60 to 61, the risk score is recalculated, and the policy is reapplied automatically. To learn more about how and when risk scores are recalculated, see What happens to monitored product applications?.

Once a task is assigned, it cannot be removed, even if the application's risk level changes. For example, if an application's risk level is High risk and it changes to Low risk when the risk score is recalculated, the High risk tasks still need to be completed for the application to be approved.

The rules that determine which onboarding tasks are required for a profile during a product application, for example, verify an individual’s identity. Additionally, smart policies can be configured to automatically approve profiles that have passed all onboarding tasks. If you have Risk configured, smart policies can also automatically reject applications at or above a specified risk level.

Smart policies are specific to profile type, either individual or company, meaning that a smart policy is always applied to either individual profiles or company profiles.

If you do not have Risk configured, a smart policy provides a set of tasks that’s applied to every profile.

If you do have Risk configured, the smart policy first checks the application's risk level before taking action. You can configure the smart policy to:

Smart policies for company profiles can have tasks with associate smart policies. These are the rules that determine which onboarding tasks are required for company associates, for example, officers, shareholders, and trustees, as part of the tasks required for the company’s onboarding process.

Associate smart policies, like regular smart policies, are applied to either individual profiles or company profiles. If you have Risk configured, you can specify which tasks are assigned based on an application's risk level, and whether applications with certain risk levels are rejected automatically.

Additionally, associate smart policies can have tasks based on the associate’s role. For example, an associate smart policy might specify one set of tasks for officers and another set for shareholders.

Smart policies and associate smart policies can be configured to automatically approve applications when all tasks are passed successfully.

The due diligence measures that must be taken to onboard a profile successfully. Tasks are displayed on the profile’s product application.

When configuring a smart policy, you can use any of the out-of-the-box tasks that Passfort provides or create your own custom tasks. See the full list of out-of-the-box tasks.

Tasks are specific to profile type, meaning that every task is associated with either individual profiles or company profiles.

Tasks can be passed manually or with the assistance of automated checks.

Users can use the Task notes area on the task to upload relevant documents, such as supporting evidence, and add notes, for example, recording which conversations or events took place outside of Passfort.

Multiple checks can be assigned to one task. The smart policy can be configured so that as soon as one automated check is successful, the task is passed. To learn more about automated checks, see the definition for checks.

To have multiple automated checks required for onboarding, create a separate task for each check.