Customer Onboarding (Business)
Deliver a fully digital business onboarding experience by creating a business profile, capturing associated individuals, and completing the verification steps required for compliance.
Business onboarding establishes a comprehensive business profile and links all associated individuals required for compliance, including UBOs, signatories, directors, and control persons. The flow supports entities ranging from startups to established enterprises and integrates digital verification for individuals through third-party KYC/KYB vendor services.
Business verification is performed manually by compliance teams. Individual verification is fully digital through third-party vendor integrations. Vendor integrations are vendor-agnostic, so tenants can connect with the third-party provider required for KYC, KYB, AML, or other compliance checks.
Onboarding journey
1. Register the business
Create the business entity’s digital record with organizational details, including:
- Business name
- Business type
- Incorporation country
- Constitution
- Business line
- Other required business attributes
2. Capture associated individuals
Capture and link each associated individual to the business record for compliance and audit purposes.
Associated individuals can include:
- UBOs (Ultimate Beneficial Owners): ownership percentage, identity documents, and contact information.
- Signatories: authority level, identity documents, and contact information.
- Directors / control persons: role, identity documents, and contact information.
3. Verify the business and individuals
Complete verification for both the business and its associated individuals.
- Business verification: compliance teams perform a manual review of the business entity.
- Individual verification: third-party KYC/KYB vendor integrations perform digital verification for associated individuals.
- Vendor selection: tenants can configure integrations with any third-party provider, including KYB providers when required.
After the business and its associated individuals are verified, the business moves to a verified state.
4. Activate the business
Activate verified businesses and associated individuals for downstream operations, such as account opening and fund transfers.
Customizable workflow
Tenants can configure the business onboarding workflow to match their compliance and operational requirements.
- User-defined data tables: Capture additional compliance/business attributes, such as Taxation details, Source of Funds, Source of Wealth, KYC notes, etc.,
- Configurable workflow sequencing: Define the order of onboarding steps, e.g., business first → UBOs → signatories → directors.
- Lifecycle webhooks: Track onboarding events for both the business and associated individuals.
Lifecycle webhook events are configurable and can include:
BusinessCreatedIndividualAddedBusinessVerifiedIndividualVerifiedBusinessActivated
Impact
Business onboarding provides a digital compliance flow that supports audit transparency and tenant-specific workflow requirements.
- Enables fully digital business onboarding as a core differentiator.
- Ensures audit transparency by linking all individuals to the business record.
- Combines manual business verification with digital individual verification for compliance alignment.
- Provides vendor agnostic flexibility for third party integrations (KYC, KYB, AML, etc.).
- Supports flexible workflows tailored to tenant requirements.
Key differentiators
Fully digital business onboarding
End to end onboarding process with no physical verification steps, ensuring speed, scalability, and seamless integration into digital banking platforms..
Integrated individual verification
UBOs, signatories, directors, and control persons are verified digitally via third party KYC/KYB vendor integration, enabling compliance without manual intervention.
Vendor-agnostic flexibility
No limitation to a specific provider — tenants can integrate with any third party vendor for KYC, KYB, or AML checks, ensuring adaptability to regulatory or business needs.
Manual business verification
Compliance teams retain control over business entity verification, ensuring regulatory alignment while maintaining a digital onboarding flow.
Customizable workflow
Flexible APIs and user defined data tables allow tenants to configure onboarding steps, capture additional compliance attributes, and adjust sequencing to match operational needs.
Lifecycle transparency
Real time webhooks provide visibility into business creation, individual addition, verification events, and activation, ensuring smooth orchestration across systems.
Marketing summary
Deliver a fully digital business onboarding experience that combines manual business verification with seamless digital verification of UBOs, signatories, directors, and control persons via third party KYC/KYB integrations. With vendor agnostic flexibility, fintechs can adapt to any compliance requirement, accelerate onboarding, and ensure audit ready transparency at scale.
Customer Onboarding (Business)
Updated about 1 month ago