September 23, 2022 (Q2 BAO 1.2.1)

This release includes the following updates:

What's new

Enabled Alloy KYB and KYC integration

Q2 BAO has added support for Alloy as a provider of KYB and KYC services. Alloy is a KYB/KYC aggregator, making it possible to communicate to many different business and identity verification vendors at the same time. The initial verifications for the business, the primary applicant, and all additional business parties (signers, owners) are sent to Alloy. If the result of any query to Alloy is not "Approved," then the applicant is either directed to the Thanks for Applying page or to the Upload Document page, depending on the configuration set in the BAO product.

(CBLT-652, CBLT-654)

Added Citizenship & Employment section

If your FI has licensed the BAO Enhanced Compliance Suite, you can now opt to include an additional page in your application workflow that requires all applicants to enter their citizenship status and employment information.

The workflow fields will be pre-populated for applicants using available information, but will include the following additional mandatory fields:

• Citizenship Status
• Employer Name (if different than the business applicant)
• Occupation
• Employer Phone Number

Within the BAO Back Office, you can view the submitted information by expanding the Party Details section on the Parties tab for the Business application. (CBLT-738, CBLT-739)

Added support for including additional documents in an application

Using the BAO Back Office, FIs can now add additional documents to an application within the Documents section. When a document is added, the status of the application changes to Entered if the KYB/KYC check passed for the application or to Referred if the KYB/KYC check failed for the application. (UUX-681)

Additional changes

• Added new email template to request additional documents from applicants. This email is triggered using the Send Email button from the Documents page in the BAO back office. (CBLT-785)
• Changed the name of the Referral Creation Email template to BAO Treasury Cross-Sell Email. (CBLT-783)
• Added required field to capture Position at Company for authorized signers. (CBLT-798)
• Updated fields reflecting completed processes to be uneditable in the BAO back office, as the data in those fields reflects whether certain processes have been run (e.g., Has KYB/KYC been run?, Disclosure Acceptance, etc.). (CBLT-770)
• Updated NAICS codes for sectors and subsectors to reflect the most recent codes. (CBLT-610)
• Updated the workflow for sole proprietorships to enable adding additional signers and to disable adding business parties. (CBLT-740)