September 16, 2025
- Core Platform
- Issuance and Cards
- Payouts and Payins
Core Platform
Introducing Live-Authorization for EU Applications
Live-authorization is a digital alternative to paper-based Power of Attorney (POA) verification.
- For EU applications, any applicant who is not a director must provide a POA signed by a director. If the director is based outside the EEA, this POA must be verified by an apostille.
- Live-authorization is completely digital, requires no apostilization, and requires no manual review, accelerating the verification process.
Live-authorization is currently available for EU applications and will be expanded to other regions soon.
For more information, see Letter of Authorization.
Onboarding Guide Changes
We have upgraded our onboarding guides for the US region to include the following:
- Addition of optional documents such as Proof of Business and Ownership Chart to improve approval TATs. A Template for Ownership Chart has been added.
- Improved guidance on key topics such as:
- How to add positions
- Expected documents for Proof of Business / Source of Wealth
- New optional fields such as
expectedAccountUsageandnatureOfBusinessto avoid RFIs
For more information, see Onboarding.
Issuance and Cards
There are no changes for this time period.
Payouts and Payins
Beta Feature: Beneficiary Schema Preview
Nium has introduced a new beta feature for the GetValidationSchema request.
Subscribed customers can now preview upcoming changes to the Beneficiary Schema before they go live. This early access allows teams to update beneficiary data in advance, ensuring a smooth transition when the changes are officially released.
For more information, contact Nium Support.
Upcoming Regulatory Change: Verification of Payee (VoP)
Starting October 9, 2025, all EUR Local payouts from EU-based clients will be subject to Verification of Payee (VoP) checks, in line with EU regulations.
Any payout with a name mismatch will be automatically rejected.
For more information, see Verification of Payee.