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October 10, 2023

Enhancements

  • Corporate customer onboarding enhancements

    • Added a new status field in the Client-KYB Status webhook to enhance corporate customer onboarding.

      Currently, the Client KYB Status webhook only provides access to the complianceStatus parameter, and you proceed with the transaction upon receiving a complianceStatus value of COMPLETED. However, certain transactions may not succeed because transactions are only allowed when the status is Clear.

      To address this issue and prevent transaction failures, we have now included the status field in the webhook, which is already available in the Customer Details API. We strongly recommend that clients utilize both complianceStatus and status to ensure the successful execution of transactions.

      Note that the complianceStatus being COMPLETED does not signify a terminal state, as there is still a possibility of receiving Requests for Information (RFIs) even after this webhook has been received. In rare instances, RFIs may still be raised even after the status has reached Clear due to post-approval due diligence. However, transactions will not be blocked in such situations.

    • Amendment to attestation for US Clients.

      For US clients, it is necessary to update the applicant declaration or attestation in your onboarding process to incorporate the UBO (Ultimate Beneficial Owner) declaration. Use the following amended attestation:

      "I certify that I am the authorized representative of the customer; all information provided and documents submitted are complete and correct. I confirm that I have provided all the UBOs present. I have read and accepted the Nium Terms and Conditions."

  • Individual customer onboarding enhancements

    • Enhancement in the Unified Add Customer API by adding a new optional field isTncAccepted to support both onboarding and the terms and conditions (T&C) acceptance in a single API call.

      isTncAccepted is a boolean field with a default value of false. With this change, the customer's initial consent to the T&Cs can be recorded during the onboarding flow.

    • Introduced shortened enum values for intendedUseOfAccount and estimatedMonthlyFunding fields in the Unified Add Customer API. The shortened values and their corresponding descriptions are available in the enum values description guide.

      This enhancement will make the API easier to use and reduce the chance of validation errors.

    • The Regenerate KYC URL API now supports individual customers in addition to corporate customers.