Managing Associated Parties

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Call outs

• There is no validation to enforce only a total of 100% ownership being added via the associated parties.
• If a customer is hidden on the onboarding and monitoring list while added as an associated party when removed they will not be unhidden automatically. This behaviour is not reversible.

To add an existing or new associated parties to an Organisation via the Portal

Navigate to the Owners & Officeholders tab inside an organisation

Scroll to the bottom of the page and click on the Add Entity which then lets you choose one of two options

• Search for existing Individual/Organisation
• Create a new Individual/Organisation

Search for existing Individual/Organisation

Step 1 - Search for an Individual/Organisation by Full name, family name, Customer ID, Frankie ID, ACN or ABN
Step 2 - Select the entity from the list
Step 3 - Chose the role type from the available list
Step 4 - Enter the Beneficially or Non Beneficially held Ownership % (Optional)
Step 5 - Click on Add
Step 6 - In the confirmation Popup -> Select Whether to Hide Individual from Onboarding/Monitoring tabs (Unchecked by default)

Create a new Individual/Organisation

Step 1 - Choose whether it is an Individual or Business

If an individual

Step 2 - Enter the required details
Step 3 - Chose the role type from the available list
Step 4 - Enter the Beneficially or Non Beneficially held Ownership % (Optional)
Step 5 - Click on Add
Step 6 - In the confirmation Popup -> Select Whether to Hide Individual from Onboarding/Monitoring tabs (Checked by default)

If an Organisation

Step 2 - Search for a Business Name, ABN or ACN
Step 3 - Select a Business form the list of identified businesses
Step 4 - Chose the role type from the available list
Step 5 - Enter the Beneficially or Non Beneficially held Ownership % (Optional)
Step 6 - Click on Add
Step 7 - In the confirmation Popup -> Select Whether to Hide Individual from Onboarding/Monitoring tabs (Checked by default)

Once an Associated Party is added you can maintain them going forward

• Send them a KYC link
  The added parties can be sent a KYC check link at an individual level.

• Updating an associated party
  The roles of the party and the Beneficially or Non Beneficially held Ownership % can be updated

• Removing an associated party