Reviewing Validation Results
Once your clients and counterparties have completed their validation forms, the validation results will be displayed in the Matter Room dashboard.
Validation Results
Explainer
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The dashboard. The Matter Room dashboard provides you with a snap-shot view of your client or counterparty's bank details and the result of their validation checks.
ID and Address
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For individuals, checks their name, DOB and residential address
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For entities, checks their registered name, number and address, as well as trading address (if provided)
Sanctioned
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Checks individual or business against consolidated sanctions lists administered by UK, USA, EU, Canada and UNSC
Adverse media
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For individuals, checks media sources covering corruption, financial crime, trafficking, organised crime, terror, tax crime and war crimes
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For entities, checks media sources covering corruption, fraud, regulatory issues and sanctions
Active company
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Checks that the entity is listed as an active, trading company on the corporate registry
Ownership validated
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Checks that the name on the bank account matches the name of the individual or entity
Account active
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Checks that the bank account connected to the Matter Room is active and open
Sufficient funds
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For inbound payments only. Checks that the payor has sufficient funds to make the payment to you.
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Notifications. Notifications are delivered to you as and when validation results are marked as flagged, there's been a change in status of validation (AML checks only), or a client or cunterparty user updates their information on the Lucra platform. Click > X to remove a notification once read (if not, it will remain in your notifications modal).
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Details modal. On the dashboard next to a client or counterparty user, click > View Details. A pop up modal will appear with detailed information on the relevant user. Here you can override or accept validation results.
Status
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Displays detailed description of any failed results, as well as all listing all checks that have cleared
Details
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Displays an individual or entity's personal/corporate details
Accounts
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Displays bank account information
Timeline
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Displays timeline of client or counterparty registered on Lucra platform, the result of checks and any subsequent override or acceptances by you
How We Determine Results
Summary
Each check has a built-in test.
ID and Address
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For individuals
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Cleared means name, DOB and residential address submitted all match records held by Experian or Equifax (UK) or TruGlobal (EU)
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Failed means any item does not match records held by Experian or Equifax (UK) or TruGlobal (EU)
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For entities
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Cleared means registered name, number and address, as well as trading address (if provided) all match records held by Creditsafe
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Failed means any item does not match records held by Creditsafe
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Sanctioned
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Cleared means individual or business is not listed on sanctions lists administered by UK, USA, EU, Canada and UNSC
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Failed means individual or business is listed on sanctions lists administered by UK, USA, EU, Canada and UNSC
Adverse media
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Cleared means individual or business is not mentioned in media sources covering relevant topics
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Failed means individual or business is mentioned in media sources covering releavant topics
Active company
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Cleared means that entity is listed as an active, trading company on the corporate registry
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Failed means that entity is not listed as active, trading company on the corporate registry
Ownership validated
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Cleared means the name on the bank account exactly matches the name of the individual or entity (case sensitive)
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Failed means that the name on the bank account does not exactly matches the name of the individual or entity (case sensitive)
Account active
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Cleared means the bank account connected to the Matter Room is active and open
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Failed means the bank account connected to the Matter Room is not active and open
Sufficient funds
For inbound payments only
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Cleared means the payor has sufficient funds to make the payment to you
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Failed means the payor has sufficient funds to make the payment to you (will fail if the account's currency is not the same as the payment's currency)
Generating a Validation Report
Instructions
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Open Details Modal. Click > View Details on relevant client or counterparty.
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Generate Report. Click > Get Validation Report. Report will automatically download locally. Reports are in downloaded .PDF read-only format.
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Report contents. Report will contain all information held in the Details Modal.
Downloading Bank Statements
Instructions
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Open Details Modal. Click > View Details on relevant client or counterparty. Select > Accounts tab.
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Select statement type.
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Click > Get Oldest Statement for a 12 months old bank statement. If a 12 month statement is not available, the oldest available one will be selected.
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Click > Get Latest Statement for the lastest available bank statement.
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Review statement. Statements will appear in a seperate window. If the download fails, it's likely due to the client or counterparty's bank not supporting this feature. For a list of which bank support this, please visit our FAQs page.
NB: for Lloyds Bank, the window to obtain a bank statement is 45mins from the point that the client or counterparty consents to the account information sharing - please ensure to review the statement as soon as the validation form is complete.