EU Onboarding

Learn how to onboard businesses or corporations and individuals in the European Union using Know Your Customer (KYC) and Know Your Business (KYB) verification methods.

For more information, about onboarding, see Onboarding.

Onboarding corporations

Nium supports both electronic KYB (eKYB) and manual KYB when onboarding businesses in the EU.

• Electronic KYB (eKYB): Automatically retrieves information about the business and reduces the number of documents the applicant will be asked to provide.
• Manual KYB: Applies if electronic verification can’t find or confirm company records. The applicant manually provides details and documents as required.

For stakeholders, both electronic and manual KYB options are available.

eKYB

Follow these steps to onboard a business using eKYB.

Step 1: Fetch public corporate details

1. Collect the applicants businessRegistrationNumber and countryCode from your onboarding form.
2. Use the Fetch Public Corporate Details request to retrieve publicly available company information.
3. Display the details to the applicant for confirmation.
4. Store the publicDetailsId from the response.
5. If no details are returned, skip to manual KYB and use the Create Customer v5 request.

Step 2: Fetch exhaustive corporate search details

1. Use the Fetch Exhaustive Corporate Details request and include the publicDetailsId.
2. Save the searchId from the response.

note

The Fetch Exhaustive Corporate Details request retrieves detailed corporate records and incurs a one-time lookup fee per search. For more information, contact your Nium account manager or Nium Support.

Step 3: Display and complete details

1. Verify the corporate details in the response with the applicant, including directors and Ultimate Beneficial Owners (UBOs).
   • Field names align with the details submitted in the Create Customer v5 request.
   • Collect any required information that's missing before proceeding.
2. Upload stakeholder details. Both electronic and manual KYB options are available for stakeholders.

Stakeholder verification - electronic

If electronic KYB is selected for a stakeholder, the applicant can copy and share a verification link with them.

The stakeholder completes verification by uploading a valid proof of identity and a live selfie.

The applicant can track the stakeholder’s KYB status on the KYB form.

Stakeholder verification - manual

If a stakeholder chooses the Manual Verification option, they upload all required documentation using Nium’s KYB hosted form.

For a list of required documents, see EU Required Documents.

Step 4: Upload documents

1. If searchId is not provided, document uploads are required.
   • Even with a searchId, additional documents may still be requested.
2. Use the Upload Document request to submit files. The response includes a fileId, which must be referenced when onboarding the business.

See EU Required Documents for more information.

Step 5: Applicant declaration

The applicant must confirm the following:

note

I certify that I am an authorized representative of the customer. All information and documents provided are complete and accurate. I confirm that all UBOs have been disclosed and that I have accepted the Nium Terms and Conditions.

The applicant can accept the declaration through a clickwrap. Send Nium confirmation of the declaration by including the following when onboarding the applicant:

• applicantDeclaration
• applicantDeclarationTimestamp (timestamp in YYYY-MM-DD HH:MM:SS format)

Step 6: Submit corporate details

1. Onboard the applicant using the Create Customer v5 request and include all the required details, including searchId.
2. If searchId is omitted, the application proceeds through manual review.
3. A successful response returns a customerHashId that can be used to track onboarding progress.

Manual KYB

For details on how to manually onboard businesses, see Corporate Customers.

Position mapping

The following breaks down the stakeholders required per business type.

Business type	DIRECTOR	PARTNER	REPRESENTATIVE	SETTLOR	SHAREHOLDER	SIGNATORY
ASSOCIATION	Yes		Yes		Yes	Yes
LIMITED_LIABILITY_PARTNERSHIP		Yes	Yes			Yes
GOVERNMENT_ENTITY			Yes			Yes
PRIVATE_COMPANY	Yes		Yes		Yes	Yes
PUBLIC_COMPANY	Yes		Yes		Yes	Yes
SOLE_TRADER			Yes			Yes
TRUST			Yes	Yes		Yes

Onboarding individuals

Nium supports electronic KYC (eKYC) to onboard individuals in the European Union.

Follow these steps to onboard an individual using eKYC.

Step 1: Submit application

Create a customer using the Create Customer v5 request and include all the required details.

After submission, the application status becomes pending with the substatus awaiting_kyc.

Step 2: Access KYC Form

The applicant opens and completes Nium’s hosted KYC form. Applicants verify access with a one-time password (OTP) sent to their registered email.

Step 3: Applicant verification

The applicant completes verification by uploading a valid proof of identity and a live selfie.

Once complete, they submit the KYC form which you can use to track the applicant's status.

Step 4: Compliance review

Nium’s compliance team reviews all submissions.

If compliance needs additional details, Nium will raise a request for more information (RFI).

Once KYC for all applicants and stakeholders is complete:

• The application status changes to pending.
• The substatus becomes under_review.

Nium verifies the details and sends a response via webhook.

Next steps

For details on the next steps to take based on the status that's returned, see Customer Onboarding.

For more details about onboarding in Europe, see:

• EU Required Documents
• EU Required Parameters