What effect does the "Auto-KYC" setting have?

If you are the workspace owner of the system for your company, you can make several settings for the onboarding / KYC workflow in the PROFILE -> WORKSPACE SETTINGS -> PROCESS SETTINGS area (see illustration):

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Note: As soon as you change a setting, the setting applies to every process that is created after this point in time. Existing open or closed processes are not affected by the change.

The following settings can be made:

• Automatic KYC recognition of beneficial owners and legal representatives: Should the system pre-select beneficial owners and legal representatives if the data from external sources allows this?

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