Glossary

Aliases are used instead of the product ID, task ID, and check ID when you make calls to the API. Every product, task, and check can have an alias but the alias must be unique to your institution. For example, if you use the alias "forexo_basic" for one of your products, then you can't use that same alias for a task, check, or another product.

The application flag indicates what's currently happening to the product application or what needs to be done for the product application to progress to the next status.

The application status indicates what phase the product application has reached in the onboarding and monitoring process.

The audit report lists the actions that took place on a profile.

One or more individuals who own or control a corporate entity.

The automated processes that can be used to complete or assist in passing tasks.

A significant shareholder identified in the path between the onboarded company and its ultimate owner.

The percentage of product applications created that have been approved.

The service used to provide data for checks, for example, GBG ID3global, Companies House, or Onfido.

The number of entities between the associate and the onboarded company.

A form consists of one or more questions and can be used to gather information about a profile or to collect a document to run a check. Forms can be internal or external as part of a customer request or registration flow.

The entity with ultimate ownership of the onboarded company.

A legal entity identifier is a 20-character, alpha-numeric code that is used to identify legal entities participating in financial transactions, supported by the Global Legal Entity Identifier Foundation (GLEIF).

The process of determining whether a profile is approved to use your products.

A politically exposed person is someone who is at a higher risk of bribery or corruption because they may hold a public or high-profile position. This term may also apply to someone affiliated with a high-profile person. Regulated industries must identify PEPs when onboarding.

A product or service that profiles can apply for, such as a current account or credit card.

The process of onboarding profiles to products. A profile may be going through multiple product applications at the same time.

The applicants or customers currently going through your onboarding processes. One profile is created per applicant or customer.

There are two profile types: individual profiles, which are used for people, and company profiles, which are used for companies.

A label assigned to a product application based on its total risk score. The risk level can be high, medium, or low.

An individual or entity that owns shares in the onboarded company.

The rules that determine which onboarding tasks are required for a profile during a product application, for example, verify an individual’s identity.

A product application is decided with straight through processing when it goes from created to approved or rejected automatically, with no manual intervention.

A task is decided with straight through processing when it goes from created to completed, either passed or failed, without any manual intervention.

The due diligence measures that must be taken to onboard a profile successfully. Tasks are displayed on the profile’s product application.

A unique identifier assigned to an individual or entity used to identify an individual or entity in order to administer tax laws of a particular jurisdiction.

The people who have access to your Passfort account. These are typically the people you work with.

When configuring an automatic check for a task, you can specify that if your preferred data provider returns an error, returns a partial error, or the check fails, another data provider is tried. This is called waterfalling your check.