Using UBO

Ultimate Beneficial Owners (UBOs) are individuals or entities that ultimately own or control a company or an asset. You can use the single trusted source of UBO data Dun & Bradstreet provides to search for and extract third-party data. UBO data is vital for managing due diligence, mitigating reputation and revenue-damaging risks, and meeting regulatory reporting requirements.

FAQ

What is the Ultimate Beneficial Ownership feature?

The Ultimate Beneficial Ownership (UBO) feature is a fast and seamless approach for customers to use for extracting and reviewing the UBO data across all their third parties.

How can I access Dun & Bradstreet's UBO data?

Dun & Bradstreet typically offers access to UBO data through subscription-based services or specialized products designed for compliance, risk management, and business intelligence.

Can I use UBO data for compliance?

UBO data can be used for compliance. Organizations use UBO data to comply with regulatory requirements related to know-your-customers, anti-money laundering laws, and sanctions screening.

Is UBO data available globally?

Dun & Bradstreet aims to provide UBO data for companies worldwide, but data availability may vary by region and regulatory infrastructure quality.

How frequently is UBO data updated?

Dun & Bradstreet updates data regularly to ensure accuracy and relevance. However, update frequency varies by data sources, regulatory requirements, and other factors.

What are the limitations of UBO data?

While UBO data provides valuable insights, it may have limitations, such as incomplete information, data gaps, or challenges in identifying beneficial owners in complex ownership structures.

Is the UBO feature available to all users?

The UBO feature is only available for Plus Package 3PM Customers.

How do I access the UBO feature?

You can access the UBO tab under third-party profiles or engagements.

Is there an additional cost associated with using the UBO feature?

Diligent Third-Party Manager (3PM) offers a UBO feature subscription that allows clients to access UBO data. Dun & Bradstreet limits the number of searches in a subscription to 1,000. Clients who need more than 1,000 UBO searches can use the Bring Your Own License (BYOL) model.

What is Bring Your Own License, and how does it work?

Dun & Bradstreet requires clients who require more than 1,000 UBO to use the Bring Your Own License (BYOL) feature. In the BYOL model, customers must liaise directly with Dun & Bradstreet to procure licenses for UBO data.

Are there any restrictions or limitations with BYOL?

The main requirements for BYOL are that the API Application Programming Interface (API) is the developer interface for the platform. Use the API to develop your own applications. calls must correspond to what you have access to, such as any calls in the agreement; and end-user customers must comply with the global terms. Examples of global terms include market carve outs for distribution and BYOL-only.

How do I enable the UBO BYOL feature in an application?

Email Support_3PM@diligent.com to request the UBO BYOL feature. When the feature is enabled, Client Admins can view the UBO tab under Settings > Security.

Under the UBO tab, a Client Admin The user role with access to all records, reporting, and settings. The role with the highest privileges. Custom roles can be created. can add the UBO license key, which can be used to fetch the UBO report via the BYOL approach.

API key and Secret are mandatory fields. After adding the details in both fields, clicking Submit allows Client Admins to submit them.

To change the license key, Client Admins must select Change License Key.

How can I ensure compliance when using the BYOL feature?

All Dun & Bradstreet compliance measures, policies, and practices are active and applicable. For the BYOL model, Dun & Bradstreet licenses data directly to the end user, so compliance is more Dun & Bradstreet to end user. If you have specific compliance questions, contact Jason Probst at probstj@dnb.com.

What should I do if my BYOL license expires or needs renewal?

If the end user customer subscription with Dun & Bradstreet expires, the BYOL solution will not work. Contact Dun & Bradstreet Service & Support for license expiration and renewals.

What information is required when Diligent refers a client for the BYOL model?

When referring a client for a Dun & Bradstreet BYOL license, a Diligent CSM must email a request with company name, contact (ideally the person who also manages the Dun & Bradstreet contract), address, city, state, zip code, and projected UBO transactions to Jason Probst at probstj@dnb.com.

What will happen if the referred customer is not a Dun & Bradstreet customer?

If the referral is not a Dun & Bradstreet customer, the distribution contract can be utilized. Projected volumes less than 1,000 are automatically approved. If the projected transactions are greater than 1,000, the prospect must email Jason Probst at probstj@dnb.com for a yes or no answer. The typical turnaroud time is 24-48 hours for transactions greater than 1,000.

How long does it take for Dun & Bradstreet to onboard a prospect as a customer?

The direct sales motion plus introducing BYOL depends on contract negotiations with Dun & Bradstreet; technical readiness of the customer to ingest the requisite APIs through Dun & Bradstreet and into the Diligent platform; and global markets. A sales cycle in one country may take longer than the same BYOL sales cycle in the another country.

If the referred Diligent customer is already an existing Dun & Bradstreet customer, what is the process?

The customer information, including company name, contact (ideally the person who also manages the Dun & Bradstreet contract), address, city, state, zip code, and projected UBO transactions, must be provided to Jason Probst at probstj@dnb.com. He will coordinate the joint sales process among all parties. The Dun & Bradstreet team will resolve the issue in 24-48 hours.

How and when does Dun & Bradstreet notify Diligent about the completion of the BYOL process with the customer?

The Dun & Bradstreet team (contact Jason Probst at probstj@dnb.com) manages communication among all parties. The Dun & Bradstreet team notifies Diligent. The BYOL implementation is a fairly involved process, and there will be communication throughout.

What if a customer licensing 1,000 Dun & Bradstreet UBO records via Diligent wants to procure an additional 100 records?

The Dun & Bradstreet team receives approval to allow for up to 500 UBO transactions as an additional SKU. Transactions above 500 (1,500 total) must be vetted. Those requests should go directly to Dun & Bradstreet (Jason Probst at probstj@dnb.com) for a yes or no answer. More information may be needed before the team can make a determination. The change or decision can be made yearly in concert with the Diligent customer renewal cycle.

Enabling UBO for the first time

The Ultimate Beneficial Ownership (UBO) feature is only available to Plus Package 3PM customers.

Contact your CSM. The support staff can enable the feature.

Bring your own license

You must be logged in as a client admin to add an API key and secret. Only client admins can access the UBO tab.

1. From the dashboard, select Third Party Management.

2. Select the Settings tab, and then select the Security tab.

3. Select the UBO tab.

4. Fill in the API Key and Secret fields.

5. Select Submit, and then select Yes.

Change a license key

You must be logged in as a client admin to access the UBO tab and change a license key, and UBO must be already enabled. To enable UBO for the first time, see Enabling UBO for the first time.

1. From the dashboard, select the Support tab.

2. In the SUBSCRIBER section, select Tenants and Settings.

3. In the Settings Group list, select Third Party Access.

4. Select Enable UBO, and then select Enable Bring your own license.

5. Select the Settings tab, and then select the Security tab.

6. Select the UBO tab.

7. In the Enable UBO section, select Bring your own license.

8. Select Change License Key.

9. Fill in the API Key and Secret fields.

10. Select Submit, and then select Yes.

Access UBO data

The D-U-N-S number is a unique nine-digit number that identifies a location's business entities. Dun & Bradstreet assigns and maintains the D-U-N-S number as a business identifier.

A maximum number of D-U-N-S number searches are available. A notification tells you when you reach the limit. In general, limits are initially set at 100, 500, or 1,000.

1. From the Third Party Management, Record Detail tab or Engagements on the dashboard, select the UBO tab.
2. Perform one of the following:
   • If you know the organization's D-U-N-S number, enter the D-U-N-S number, and then select Find third party.
   • If you do not know the organization's D-U-N-S number:
     1. Select Search D-U-N-S number.
     2. On the window, enter the Company Name and the Country.
     3. (Optional) Enter the Street Address and City. Adding these details to the search produces faster and more accurate results.
     4. Select Search D-U-N-S number.
     5. Select the entity, and then Select third party. The entity name, address, and D-U-N-S number are displayed.
3. Select Request UBO data. The UBO tab displays third parties' UBO data. You can change the number of entries displayed and search for a particular third party. The data includes the UBO individuals that are part of the entity and the following information about them:
   • Beneficiary name
   • Beneficiary type
   • Indirect ownership %
   • Direct ownership %
   • Beneficial ownership %

If there is no UBO data, the following message appears:

Target D-U-N-S number is found to have no ownership data available in the UBO Graph.

View UBO data history

UBO history captures UBO data that has changed since a previous search. If UBO data has changed, the dashboard displays the number of third parties that have updated UBO information.

1. On the Third Parties with Updated UBO information tile on the dashboard, select View Third Parties. A list of all third parties that have updated UBO information is displayed.

2. To view a third party's updated UBO information, select the third party in the list. The updated UBO information displays in the UBO tab.

3. Select Show History.The UBO Version list displays the latest UBO version by default.

4. Select a version in the UBO Version list, and then select a version in the Version to Compare list. A list of beneficial owners who were added, updated, or removed between the selected versions is displayed.