video1.0<iframe src="https://www.loom.com/embed/ea848ab5b9ed4b69a613a36e6ae90f13" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/ea848ab5b9ed4b69a613a36e6ae90f13-f9f848ec3a78ab41.gif134.561In this video, I walk you through the process of configuring party types within TrustLayer, focusing on how to categorize vendors as low, medium, or high risk based on their compliance profiles. I demonstrate how to add a new party type, such as electricians or plumbers, and link it to the appropriate compliance profile for onboarding. This setup not only streamlines our operations but also ensures we have a default compliance profile in place. Please make sure to follow the steps I outlined to create and manage your party types effectively. If you have any questions or need to edit a compliance profile later, you can easily do so.