An Entity is used to consolidate data about customers and third parties that you do business with. Typically, an entity will be one of your customers, but can also represent sub-merchants (customers of customers), subsidiaries and franchisees of your organisation and more.
You would create an Entity for any individual or organisation you're interested in monitoring risk and compliance data and processes for. Entities can be created directly in BNDRY or using our APIs. With Entities, BNDRY is like a CRM for your risk data.
BNDRY comes with a number of entity types with distinct data models.
| Entity Type | Description |
|---|---|
| Trust | A legal arrangement where a trustee holds assets on behalf of beneficiaries. |
| Individual | A single person conducting activities in their own name. |
| Company | A separate legal entity registered under corporate law, owned by shareholders. |
| Partnership | A business structure where two or more people share ownership and profits. |
| Sole Proprietorship | A business owned and operated by one person, not legally separate from them. |
| Employee | You can mark an Individual as an Employee when editing an Entity. This allows you to track compliance processes for internal staff. |
The minimum data required to create an Entity is to specify the Entity type, and a display name. This allows you to quickly create Entities to start building your Risk Hub, and enrich those entities over time.
Create an Entity by selecting Create Entity and populate the necessary fields. Entity data includes general identification details, contact details, and general risk details such as risk rating and risk status.
You can optionally add one or more External Ids to an Entity, allowing you to link the Entity record to a record in another system, such as an existing CRM or database. External IDs can be specified in the app, or added when importing Entities into BNDRY from another system via the API.
Once an Entity has been created, you can view their profile in BNDRY. The profile displays Workspaces, Activities, Documents, and Notes associated with the Entity.
You can optionally add pinned fields that display prominently on the Entity Profile screen. Through the platform settings, you can specify up to 5 Entity fields to pin to the top a profile. In example below, PEP Screening Result and Sanctions Screening Result fields have been pinned to the Entity profile.
Relationships allow you to specify how entities are related. This improves visibility and helps you connect the dots and identify how the entities you do business with are related, allowing you to tackle risk at a holistic level.
BNDRY comes with a number of relationship types you can specify between entities:
| Relationship Type | Description |
|---|---|
| Director | A person appointed to manage and oversee the operations of a company. |
| Shareholder | An individual or entity that owns shares in a company. |
| Beneficial Owner | A person who ultimately enjoys the benefits of ownership, even if held in another’s name. |
| Ultimate Beneficial Owner | The individual(s) who ultimately control or own an entity, often through layers of ownership. |
| Employee | A person hired by an organization to perform work in exchange for wages or salary. |
| Supplier | An individual or business that provides goods or services to an organization. |
| Authorised Representative | A person or entity given formal authority to act on behalf of another party. |
| Customer | An individual or organization that purchases goods or services from a business. |
| Trustee | A person or entity legally responsible for managing trust assets on behalf of beneficiaries. |
| Settlor | The individual who creates a trust and transfers assets into it. |
| Family | An individual is a family member of another individual |
| Friend | An individual is a friend, associate, or known to another individual |
Manually add relationships through the relationships pane on the entity profile. You can specify as many relationships on an Entity as you need. Relationships are also added automatically when related parties are identified as part of KYB (Know Your Business) checks.