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October 1, 2024

Core Platform

New Features

Multiple Wallets

Corporate customers can now have multiple wallets on the Nium platform. Multiple Wallets offers more choice and convenience to clients and helps ledger management with single or multiple currencies.

  • Currently, whenever a customer is onboarded on to Nium, a default wallet is created and linked with the customer. All transactions are credited and debited from that single wallet.

  • With this change, customers can now hold balances and transfer funds between multiple wallets based on their business needs.

  • The assignment of virtual accounts to any wallet is supported by the Assign Payment ID request.

  • We’ve introduced three new APIs to support this feature:

  • We're actively working on bringing card issuance and card-based transactions for additional wallets.

  • Currently, card issuance and card-based transactions only support the default wallet that was created and linked with the customer after completing onboarding.

  • Multiple wallets are currently only available in select regions. The regions Multiple Wallets are available include:

    • Australia (AU)
    • Canada (CA)
    • Hong Kong (HK)
    • Singapore (SU)
    • United Kingdom (UK)
    • United States (US)

Please contact your Nium account manager or Nium support to evaluate your business use case and configure wallets for you.

Enhancements

Stay Informed with Our New Status Page

Monitor the real-time status of Nium services with our new Status Page. Stay updated on service performance and incidents, and subscribe to notifications for timely alerts on any service changes or issues. See our guide for more information.

Virtual Account related information

The account type returned in the API response of Virtual Account Details V2 and the Client Details request for GMO_JP bank has been changed from SAVINGS to LOCAL to make it standardized across all banking partners.

September 17, 2024

Core Platform

Enhancements

Intermediary Bank Code for Virtual Accounts from JPMC SG

The virtual account detail returned by the Virtual Account Details V2 API will now include the intermediary bank SWIFT BIC for virtual accounts issued for non-SGD currencies. This will be available in the routingCodeValue2 field and should be used for fund transfers through virtual accounts issued by JPMC SG.

Nium Portal

Virtual Account Numbers

You can now create virtual account numbers directly in the Nium Portal on the Customer Balances page. This caters to users who prefer the portal over our API.

For more information, see Virtual Account Numbers.

GPI Details for SWIFT Transactions

Global Payments Innovation (GPI) details for SWIFT transactions are now included in transaction reports, providing end-to-end visibility into transaction statuses.

For more information, see GPI details.

Payout Return Reasons

Transaction reports now display reasons for returned payout transactions, helping you identify and prevent issues.

For more information, see Transaction reports.

Nium Docs

New Financial Institutions Use-Case Guide

We’ve released a new use-case guide tailored for Financial Institutions (FIs). It provides detailed integration steps, fund flow examples, and an overview of key Nium features.

For more information, see Financial Institutions.

August 20, 2024

Core Platform

There are no changes for this time period.

August 6, 2024

Core Platform - Enhancements

Nium Portal - Redesigned Customer Balances Page

We've redesigned the Customer Balances page to enhance usability:

  • Review, at a glance, what features are enabled for each currency. This change helps you better understand what capabilities are available when managing those funds.
  • Create Virtual Accounts for Payin-enabled currencies. Non-developers can now create Virtual Accounts in Nium Portal without directly using Nium’s API.

For more details, see the Nium Portal - Customer Balances.

July 23, 2024

There are no changes for this time period.

July 9, 2024

Enhancement

A new query parameter status has been released for the Virtual Account Details V2 request. With this new parameter, the active/inactive virtual accounts can be filtered by Clients.

June 25, 2024

New features

Reports are now available in Nium Portal. Reports enhance your financial management experience by providing detailed insights into your transactions. You can now track, analyze, and manage your financial activities with ease. For more information, see Reports.

Breaking API Changes

Starting October 1st, 2024, changes in Nium’s compliance policy will require additional documents and parameters to onboard corporate customers using the Onboard Corporate API. Please update your integration accordingly to avoid disruptions. If you have any questions, please contact your Nium account manager or Nium Support.

  • Current State: These documents and parameters are optional.

  • Future Requirement: From October 1st, 2024, these fields and parameters will be mandatory.

  • Changes to Nium: If the required documents and parameters are not included, the API will return an error indicating the missing documents and/or parameters.

Changes to the Onboard Corporate API include:

May 28, 2024

There are no changes for this time period.

April 30, 2024

Enhancements

  • We’ve introduced three new reasons you can include when permanently blocking a customer:

    • UNRESPONSIVE_CUSTOMER
    • DORMANCY
    • OTHER

  • Moving forward, when PERMANENT_BLOCK is used, the customer's account will be considered closed, and they can no longer process any further activity.

  • Applications rejected due to high risk or non-compliance will now be blocked from being resubmitted. Previously, such applications could be resubmitted but were rejected by our compliance team after review. With this change, applications that have been previously rejected will automatically be rejected without any wait.

April 16, 2024

Enhancements

  • Our eKYC Onboarding APIs are now available for individual customers in Canada. For more details, see CA onboarding.

  • Our OpenAPI spec is now available on GitHub. You can download and review our OpenAPI spec to help you build your integration with Nium. For more details, see our Nium OpenAPI repo.

  • We've added ▶ Run in Postman buttons to several guides. These buttons give you quick access to our Postman collection and enable you to see how requests run in real-time. For an example, see Individual Customer Onboarding.