What problem does BO Unwrapper solve?
Intermediate and Ultimate Beneficial owners need to be identified for ALL Non individual customers prior to Onboarding. The percentage to which such “unwrapping” is to be done is determined by risk rating of customer and jurisdictions where customer intends to open a relationship.The process to independently identify such Beneficial owners is currently manual and cumbersome. Staff will need to access information from different registries / sources and identify cross holdings across different legs. Moreover, it is error prone, as there is a need to interpret “unwrapping” requirements, which frequently results in re-work.
