What is the effect of the "Auto-KYC" setting?

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

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

The following settings are available:

• Automatic KYC detection of beneficial owners and legal representatives: Should the system pre-select the beneficial owners and legal representatives when data from external sources allows it?

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