Overview

This page introduces the onboarding process and the Know Your Business (KYB) requirements for a corporate customer. The Nium One platform onboards a corporate customer through a client. It verifies their identity and assigns them a wallet that holds the balance.

📘

NOTE

The term corporate customer includes a:

• Small and medium enterprise (SME)
• Business
• Business client

Introduction

Onboarding process flow

After you complete your client setup you need to onboard your corporate customer. You need to submit an application through an API so Nium can complete the customer's KYB verification according to regional regulatory guidelines.

Nium requires the customer to wait for the KYB process to complete before they can make transactions. Nium offers an eKYB flow to onboard a customer in most regions. The eKYB verification completes in a few minutes allowing the customer to transact quickly after submitting their application.

The corporate customer onboarding process is composed of the following parts.

Definitions

Region-specific KYB and KYC offerings

For detailed onboarding steps about your region, click the onboarding link next to the region's name.

Australia — AU onboarding

European Union — EU onboarding

Hong Kong — HK onboarding

Singapore — SG onboarding

United Kingdom — UK onboarding

United States — US onboarding

Other Countries — SG onboarding

Businesses which are not covered in any of the above regions can be onboarded through SG as the regulatory region. All the required parameters, required documents, and the onboarding flow are the same as that of SG. Currently, only Manual KYB is supported.

Implementation

Follow the steps below to complete the onboarding of the corporate customer along with KYB verification.

Submission of information

You need to send the required information below by one or more APIs summarized in the table.

For MANUAL_KYB, you only need to call the Onboard Corporate Customer API.

Onboard API response

You can implement the following actions based on the status field in the response.

200 response

Once the application is submitted via the Onboard Corporate Customer API, a customer is created and you receive the following customer information in the response, along with any errors or remarks, to be stored for future use:

• caseId
• clientId
• customerHashId
• walletHashId

The response also contains the status which is always IN_PROGRESS. One or both of the following can happen at this stage:

• When a redirectURL is provided, it means the customer has to be redirected to the vendor's page for completion of the applicant's KYC. Refer to the individual region pages for more information. Once the process is completed, wait for webhook events to indicate the change in the corporate customers' application status.

• Additional documents might be required, which can be submitted via the Upload Document for Corporate Customer API, regardless of a redirectURL. Refer to the individual regions for the complete list of documents required for eKYB and manual KYB flows. Also, you can make use of the remarks field in the response, which can be shown to the applicant, and collect documents accordingly.

After either or both of the above-mentioned steps are completed as required, Nium initiates verification of the application. The application can either get verified in real time or through manual review. The status of the application changes to either ACTION_REQUIRED, COMPLETED, or REJECT, accordingly. Any change in status is communicated via webhook, so wait for the webhook event to complete.

Response example for IN_PROGRESS with redirectUrl

{
    "clientId": "NIM1679801521238",
    "caseId": "c800e2e0-1add-4c34-8244-b7baa4924a0e",
    "status": "IN_PROGRESS",
    "remarks": "SHAREHOLDER -> VERIFIED|BUSINESS -> KYC : SCREENING COMPLETED, ALIAS_KYC : SCREENING COMPLETED|Application is being reviewed by our compliance agent|VERIFIED|APPLICANT -> KYC : SCREENING COMPLETED|VERIFIED",
    "customerHashId": "88464f2d-8caa-4cd4-a1db-346d9defde05",
    "walletHashId": "91cb0636-c30a-4304-ba47-a589dead86c9",
    "redirectUrl": "https://integrationspreprod.partners.instarem.com/preprod/compliance/callback/load?referenceNumber=18afec3f-c8fe-491a-bf4f-28651df943ec&token=eyJhbGciOiJIUzUxMiJ9.eyJzdWIiOiI0MDhjZDlmNS1hN2I5LTQ2YTYtYjE1YS0zOWY2NzE5ZjdiMTd8fGVjNWQ4OGUzLTg2ZGItNDc0ZS04ZDg1LWQxZmNiYzQ4MzllNnx8MTY3OTgwMTUyNSIsImV4cCI6MTY3OTgwMjQyNSwiaWF0IjoxNjc5ODAxNTI1fQ.dHaxPZlGyYnclIuuZ9Miu56gtBSqL3YoYSYLFQJ4lEafHGAHV1fs_63HwToJ3kb1E6FYn6SF2YGCfnkiwoFfiA",
    "errors": []
}

400 response

In case of any basic validation failures, Nium returns an HTTP 400 Bad Request response status code to the Onboard Corporate Customer API. You need to look at the errors field and resubmit with the correct customer details.

{
    "status": "BAD_REQUEST",
    "message": "Unable to create customer v1: Validation failed for input provided",
    "errors": [
        "[\"The maximum length of email is 60 characters\"]"
    ]
}

⚠️

CAUTION

All corporate customers are required to have a unique business name and business registration number.

Bad request example with a non-unique name:

{
    "status": "BAD_REQUEST",
    "message": "Unable to create customer v1: Corporate customer already exist with customerHashId 88464f2d-8caa-4cd4-a1db-346d9defde05",
    "errors": [
        "[\"Corporate customer already exist with customerHashId 88464f2d-8caa-4cd4-a1db-346d9defde05\"]"
    ]
}

The errorDetails object

In addition to the above basic errors, more detailed errors are presented in the below format with code and description. For details on the different error codes, see Onboarding error codes.

{
    "status": "BAD_REQUEST",
    "code": "unable to initiate CaaS Corporate Onboarding",
    "message": "{\"errors\":[{\"code\":\"E100\",\"description\":\"Tax Details is Missing  for Business Entity MONEYWISE PARTNERS324905\"},{\"code\":\"E100\",\"description\":\"Tax Country is Missing  for Business Entity MONEYWISE PARTNERS324905\"},{\"code\":\"E100\",\"description\":\"Registered Address Line 1 is Missing  for Business Entity MONEYWISE PARTNERS324905\"},{\"code\":\"E100\",\"description\":\"Address Registered Country is Missing  for Business Entity MONEYWISE PARTNERS324905\"},{\"code\":\"E100\",\"description\":\"Address Post Code is Missing  for Business Entity MONEYWISE PARTNERS324905\"},{\"code\":\"E200\",\"description\":\"Share percentage is Missing  for Stakeholder Ultimate Beneficial Owner Mila John Jekovar\"}],\"custAdtlInfoNeeded\":false,\"statusCode\":\"400\",\"errorMessage\":\"Compliance Request Validation Failed with Errors - Tax Details is Missing , Tax Country is Missing , Tax Number is Missing , Registered Address Line 1 is Missing , Address Registered Country is Missing , Address Post Code is Missing for Business entity  MONEYWISE PARTNERS324905. \\n Share percentage is Missing for stakeholder Ultimate Beneficial Owner Mila John Jekovar. \\n Please provide the required information.\",\"isCustAdtlInfoNeeded\":false}",
    "errorDetails": [
        {
            "code": "E100",
            "description": "Tax Details is Missing  for Business Entity MONEYWISE PARTNERS324905"
        },
        {
            "code": "E100",
            "description": "Tax Country is Missing  for Business Entity MONEYWISE PARTNERS324905"
        },
        {
            "code": "E100",
            "description": "Address Registered Country is Missing  for Business Entity MONEYWISE PARTNERS324905"
        },
        {
            "code": "E100",
            "description": "Address Post Code is Missing  for Business Entity MONEYWISE PARTNERS324905"
        },
        {
            "code": "E200",
            "description": "Share percentage is Missing  for Stakeholder Ultimate Beneficial Owner Mila John Jekovar"
        }
    ]
}

Webhooks

After receiving the response from the Onboard Corporate Customer API, for all cases where status = IN_PROGRESS, Nium sends a webhook event to the configured client URL, under Notification Webhook.

You need to look for the corresponding template within the webhook event's response CARD_CLIENT_KYB_STATUS_WEBHOOK at Client KYB Status.

To know more about the webhook features, see Webhooks overview.

The complianceStatus field

In the webhook response, the complianceStatus field can have one of the following values.

Note: complianceStatus only tells about the progress of the application but doesn't not confirm the approval. RFIs can be raised after any complianceStatus and it is advisable to keep the RFI process open in any state.

The status field

This field can have the following values.

The same status can also be found in Customer Details API.

RFI process

While the application status is ACTION_REQUIRED, the compliance agent may request additional information by raising an RFI request, which sets the complianceStatus as RFI_REQUESTED in the webhook response. Then, you need to call the Fetch Corporate Customer RFI Details API to fetch the RFI templates requested by using the clientID and caseID parameters or by using only the customerHashId.

There can be multiple RFI templates in the response.

The Respond to RFI for Corporate Customer API should be used to respond to all required fields for each RFI template raised. The required fields are different for each RFI template but are a subset of the Onboard Corporate Customer API. For the complete list of RFI templates and required fields or documents by region, see the RFI templates page. After an RFI template is responded, the status of the template changes to RFI_RESPONDED in the Fetch Corporate Customer RFI Details API.

Once all the RFI templates are responded, the status of the application changes from RFI_REQUESTED to RFI_RESPONDED and you will receive a webhook with complianceStatus=RFI_RESPONDED

After the application, the complianceStatus can again become RFI_REQUESTED or one of the terminal states becomes COMPLETED or REJECTED.

Regenerate KYC URL API

The KYC URL, which is returned in the response of the Onboard Corporate Customer API, has an expiration time. Once expired, the link cannot be used to complete applicant KYC. Use the Regenerate KYC URL API to generate a new URL with a new expiration time.

This API can be used when applicantDetails.kycMode is the following:

• E_DOC_VERIFY in any region
• E_DOC_VERIFY or E_KYC in Singapore

Identifying an expired link

When an applicant is redirected to the redirect URL received in the Onboard Corporate Customer API, the applicant lands on our vendors page to complete the KYC flow. Once the flow is successfully completed, the applicant is redirected back to the client to the configured client KYC redirect URL with the following parameters.

Example of a redirect to the client in a successful case

https://www.clientRedirectURL.com/?clientId=NIM1681898211881&caseId=4ff53849-3d30-45c8-af11-
f95c315ce83c&isSucces=true&errorCode=&errorMessage=

In case the link is expired and the applicant clicks on the link, he is redirected back to your configured client KYC redirect URL without landing on the vendor's page. In this scenario, you will receive the following parameters in the redirect URL as shown below.

Example of a redirect to the client in a failed case

https://www.clientRedirectURL.com/?clientId=NIM1681898211881&caseId=4ff53849-3d30-45c8-af11-
f95c315ce83c&errorCode=R408&errorMessage=redirectURLExpired&isSucces=false

For URL expired scenario, the redirect URL contains:

• errorCode=R408
• errorMessage=redirectURLExpired

When you detect the above values, regenerate a new URL using the Regenerate KYC URL API and advise the applicant accordingly. You can save this URL and redirect the applicant until it is expired again.

⚠️

CAUTION

Once a new redirectURL is generated, the old URL is auto-expired and cannot be used anymore.

Update Corporate Customer API

After the onboarding is complete and the customer is approved, the Update Corporate CustomerAPI allows you to perform the following actions on a corporate customer:

• Update business details and risk details of a corporate customer.
• Add new stakeholders and update information for existing stakeholders.
• Replace and update existing applicant information.
• Add new documents for business details, stakeholder details, and applicant details.

⚠️

CAUTION

This API can be called only if the compliance status is COMPLETED; any other status results in a validation error.

All the fields in the request body of the Update Corporate Customer API are the same as the Onboard Corporate customer API except authenticationCode. Clients of EU and UK must pass the authentication code submitted by the end customer. This is a regulatory requirement in the UK and US.

Important points to Note

• You do not need to pass the entire request body. Send only the fields that need to be updated. If any field is not passed in the request body, it will remain unchanged.
• Any parameter which is an array will be entirely replaced by the input values passed in the API, such as the tax_details and professionalDetails arrays.
• You can either add a new stakeholder or update and existing stakeholder. To add a new stakeholder, you needn't send a referenceId; or if you do, you need to send a new referenceId. When updating details of an existing stakeholder, you need to pass the referenceId of the existing stakeholder.
• You can either replace the applicant or update the existing applicant. To replace the applicant, you needn't send a referenceId; or if you do, you need to send a new referenceId. When updating details of an existing applicant, you need to pass the referenceId of the existing applicant.
• After the Update Corporate Customer API is called, the status of the application changes to ACTION_REQUIRED and the application goes to manual review. After Nium's compliance team completes verification, the status changes to COMPLETED and the data is updated in the database.

Region businessType matrix