KYCP Updates COT to Streamline Compliance Onboarding

Corporate onboarding at financial institutions often requires applicants to document layered ownership structures, related parties and compliance records. Lengthy forms, unclear instructions and limited progress visibility can increase errors and prompt customers to abandon applications, raising acquisition and review costs. KYCP’s Customer Outreach Tool, or COT, is designed to collect client information and connect it with compliance workflows, making configuration and usability central to onboarding efficiency.

KYCP released COT version 2.1.6 on July 24, 2026, adding a stepped company-structure builder and administrator-defined no-code logic that guides users when attaching related parties to parent entities. The update also introduces configurable application names and pre-start messages, streamlined routing for single-entity cases, customer-friendly status labels, section and step indicators, and a completion percentage based on mandatory fields. KYCP did not disclose pricing, adoption figures or quantified reductions in errors or processing time.