What is a periodic review and how does it work?

A periodic review is a scheduled or triggered re-evaluation of a business’s KYB (Know Your Business) profile. Once a case has been initially approved, there are often regulatory, risk-based, or internal policy reasons to revisit that decision after a certain period of time. Periodic reviews allow you to schedule future re-assessments of a business to maintain compliance and keep risk data up-to-date.

Periodic reviews can be triggered either manually or automatically, depending on your requirements. Once a business is in the “Approved” state, there are two ways a review can be initiated:

• Time-based (Scheduled): You can configure reviews to occur on a recurring basis (e.g., every 6 or 12 months) or set a one-time review for a specific future date. This helps maintain a consistent cadence for compliance checks. You can automatically apply periodic reviews to all businesses or set specific conditions (e.g., based on risk level).
  

• Manual Trigger: A compliance officer can manually enable a periodic review at any time directly from the profile page.
  

1. What happens after a periodic review is triggered?

Once a periodic review is initiated, the business status automatically updates from “Approved” to “Review”, and a webhook is triggered to reflect the status change. You can also configure one or more of the following actions:

• Create a ticket: Automatically generate a ticket when the periodic review is scheduled. Tickets can be routed to specific queues, with rules to assign them to relevant team members.
  

• Send an email: Set up email notifications for your team. You can configure the email content and recipient list. Once a periodic review is due, your team receives an email with a link to the case.
  

• Trigger a template: Automatically initiate predefined checks (e.g., AML check, website verification) by linking a review to a specific template. This enables automated re-checks when a review is due.
  

2. How do I set up a periodic review?

You can configure periodic reviews either automatically via templates or manually from the business profile page.

• Automatic Periodic Review:
  Using the Periodic Review Template, you can define multiple review schedules for different types of checks. You can also apply filters to trigger reviews for all cases or only those meeting specific risk levels (e.g., based on a high level).
  

• Manual Periodic Review:
  From the profile page, you can enable a review for a specific business. You can either create a new schedule or subscribe to an existing one.
  

3. Can I cancel or reschedule a periodic review?

Yes. You can manage review schedules in two ways:

• From the template page, you can delete or modify schedules across all applicable cases.
  

• From the profile page, you can cancel a specific review, unsubscribe a profile from a schedule, or adjust which schedules the profile is subscribed to.