We are so excited to share three new product features which have all launched this summer. These features will help to elevate your onboarding and verification processes within our dashboard.

Making sure that our dashboard works as efficiently as possible is key, so that you can streamline your onboarding and compliance processes.

So scroll down and take a look at the latest product developments below.

 

PEP Analysis Service

What have we done? We've streamlined the process for conveyancers when handling property transactions involving PEPs.

Why have we done it? This enhancement reduces the workload for conveyancers and increases efficiency. By implementing this service, we aim to streamline the PEP analysis process, making it easier and more efficient for our team to manage transactions involving higher-risk individuals. This update enhances our compliance measures and supports a smoother workflow for all parties involved.

How It Works:

1. Flagging PEPs: When a person involved in a transaction, like a seller or buyer, is flagged as a PEP, they will be able to review this in the Checkboard app.

2. Self-Declaration Process:

   • A list of potential PEP designations will be displayed in the app.

   • The flagged individual can then confirm if they match any of the listed PEP or declare that none apply to them.

3. Report Generation:

   • The individual's response is recorded and included in a report.

   • This report provides clarity on the flagged person's self-declared PEP status, assisting conveyancers in understanding the PEP-related risks associated with the transaction.

Benefits:

• Efficiency: Reduces the time and effort required by conveyancers to assess PEP risks.

• Transparency: Provides clear and concise information regarding the individual's PEP status.

• Compliance: Ensures adherence to AML regulations by documenting and verifying PEP statuses.

 

Report Sharing

What have we done? This feature streamlines communication and information exchange among parties involved in a property transaction, including legal representatives, financial institutions, solicitors and conveyancers.

Why have we done it? To save time and speed up transactions.

How It Works:

1. Generating the Report: Upon completion of the due diligence process, the system generates a comprehensive report detailing the findings.

2. Sharing the Report:

   • Conveyancers can easily share the report directly from the platform.

   • A secure link to the report is created, ensuring that only authorised parties can access the document.

3. Recipient Selection:

   • Conveyancers can share reports with other legal representatives, financial institutions, or co-conveyancers involved in the transaction.

   • The platform includes a field to enter a "reason" alongside the report, offering context and additional details as necessary.

   • Additionally, the platform enables tracking of the report sharing status, allowing conveyancers to monitor when the report is sent, in progress, and when the sharing process is completed.

4. Secure Access:

   • Recipients receive an email containing the secure link to access the report.

   • The platform ensures that access to the report is restricted and monitored, maintaining confidentiality and compliance with data protection regulations.

Benefits:

• Efficiency: Simplifies the process of sharing crucial information, saving time and minimising the risk of miscommunication.

• Transparency: Ensures all relevant parties have access to the same information, fostering a clear and consistent understanding of the transaction details.

• Security: Utilises secure links and controlled access to protect sensitive information and comply with privacy regulations.

• Accountability: Tracks report access, providing a record of information sharing and supporting transparency and accountability throughout the transaction process.

 

National Insurance Service

What have we done? App users can now enter their National Insurance number in the app and validate the format with ease.

Why have we done it? By checking the number's format, we can confirm that it aligns with the standard guidelines set for National Insurance numbers.

 

If you’d like to find out more about any of these features then drop us a message via the chat button below, and one of our team will be in touch!