Quickstart (Corporate)

To onboard your businesses (referred to below as Program Client) follow the below steps summarized in this diagram.

NOTE: The term Corporate Customers includes:

  • Small and Medium Enterprises (SMEs)
  • Businesses
  • Business-clients
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You need to send all of your corporate customers through KYB at Nium, and Nium currently supports the following countries:

  • Australia
  • Europe
  • United Kingdom
  • Singapore (coming soon)

Nium offers a set of APIs to facilitate the KYB process and supports the following two flows of KYB:

eKYB Flow

1. Public Corp Details API

To initiate eKYB, the Nium Program Client needs to first call the Public Corporate Details using Business ID API using the Business Registration Number and the Country Code as parameters.

This returns publicly available information about the business that needs to be onboarded under the Nium Client Program and shows this information about the business to the person trying to onboard the business/corporate for verification.

2. Exhaustive Corp Details API

Nium Client calls the Exhaustive Corporate Details using Business ID using the Business Registration Number in Step #1 as the parameter.

When this API is called with business registration number, it returns all the public and non-public information about the business entity along with an important parameter called searchId.

3. Display Info to Applicant

Client should now display this information to the person trying to onboard the business in an editable form.

4. Onboard Corp Customer API

You then call Onboard Corporate Customer and pass all the parameters exactly as received in Exhaustive Corporate Details using Business ID API, including the searchId.

NOTE:

For EU and UK, it is mandatory to call Onboard Corporate Customer with searchId.

NOTE:

For AU, you may choose either:

5. KYB Initiated

Based on the above information, the eKYB (digital KYB) flow is initiated at Nium. If there is any missing information, the KYB is not cleared automatically, and the manual review flow is triggered where review is done by Nium's Compliance team.

Manual Flow

When the eKYB flow has some missing information, it may need review by Nium's Compliance team. The Compliance team may choose any of the following:

  • Clear the KYB.
  • Reject it. (this is rare)
  • Raise a Request-For-information (RFI) to collect any additional information needed.

KYB Process

Once the Onboard Corporate Customer is called, the system first checks if the corporate customer already exists.

  • If it does, system throws an error and the client needs to restart the process with correct details.
  • If not, a new CORPORATE type customer is created with customerHashId, walletHashId, clientId, and caseId. Compliance is initiated for this new customer.

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Info

In this case, the customerHashId refers to the Corporate Customer which has been onboarded.

New Customer

In response to the Onboard Corporate Customer API, Nium provides clientId of the newly created corporate customer along with the caseId. This caseId may be used for further tracking the KYB of the corporate customer.

NOTE:

For EU, you shall also receive the redirect URL for Onfido. With the EU scenario, after receiving the redirect URL in the response, you need to redirect the person trying to onboard the business entity to the given URL. That person needs to visit the provided Onfido redirect URL and complete the process by uploading required documents. This step is required to verify the identity of the person attempting to onboard the business. Nium redirects the corporate customer to pre-configured client redirect URL after receiving response from Onfido.

In cases when there is no redirect URL, you need to show an acknowledgement to the corporate customer.

Insufficient Information

If the provided information is sufficient and the KYB is initiated, the Card Client KYB Status webhook has compliance status as IN_PROGRESS.

If more information is needed, an RFI may be raised, and the status becomes RFI_REQUESTED.

If you receive RFI_REQUESTED as the compliance status in the Card Client KYB Status webhook:

  1. Use the Fetch Corporate Customer RFI Details API and fetch the details of RFI including the templateId.
  2. Response to the Respond to RFI for Corporate Customer API with all the required fields for which RFI is raised.

After completion of KYB, compliance status is updated to COMPLETED. All changes in KYB status are communicated through Card Client KYB Status webhook.

Other Implementation Notes

PublicCorporateDetailsUsingBusinessId

  • As part of this flow, Nium Client should ask the person attempting to onboard the business for a Business Registration Number and call Public Corporate Details using Business ID to fetch the data available in the public domain.
  • This API can be used free of cost.
  • Relevant only for AU, EU, and UK. (SG in the near future)

ExhaustiveCorporateDetailsUsingBusinessId

  • To initiate eKYB, using the business ID as fetched above, Nium Client should call Exhaustive Corporate Details using Business ID and pre-populate a form for the corporate to verify.
  • This API is a chargeable API.
  • Relevant only for EU and UK. (AU and SG in the near future)

AU-based Clients have two choices:

NOTE:

For EU, a redirectUrl is expected and the client needs to redirect (302) the applicant to the provided link. We can redirect the customer back to the client page based on the redirect URL configured for the client.

Refer to the below diagram:

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