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Business Onboarding

Organizations can onboard businesses, complete KYB verification, and manage customer relationships, including KYC verification, seamlessly.

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What Can a Business Do?

  1. Customer Creation: Businesses can create customers once their KYB verification has been successfully completed.
  2. Customer Bank wallet: Businesses can create wallets for the customers they have onboarded, ensuring that each customer has a dedicated wallet for transactions and other services.
    • Benefit: Immediate access to financial services for customers.
    • Details: Wallet creation is integrated into the customer onboarding workflow for a seamless experience.
  3. Customer KYC: To ensure regulatory compliance, businesses can conduct KYC checks on customers they onboard.
    • Benefit: Prevents fraudulent activities and ensures compliance with legal standards.
    • Details: Businesses can verify customer identity documents, addresses, and other necessary details to remove restrictions on customer wallets upon successful KYC verification.
  4. Wallet Management: Upon KYB validation, wallets are created for the respective business, enabling them to hold and move funds. Additionally, businesses can create and manage wallets for their customers, ensuring seamless financial transactions.
  5. Fund Transfers: Businesses can transfer funds to and from their own wallets as well as facilitate transfers for their customers to valid NGN wallets.

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Prerequisites:

  • Businesses must submit required documentation for verification and activation on the platform before they are able to onboard customers.
  • Once verified and active, businesses receive a unique identifier and wallet access.

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Business Transfer

Business transfers involve initiating a single payout for a business entity. Since businesses operate under an organization, they must specify relevant transaction details, such as the amount, recipient information, and a reference for tracking. This ensures that businesses can efficiently manage payouts and maintain accurate financial records.

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Get Fund Wallet balance

Businesses are able to get the balances of their funding wallet. This allows transparency and visibility into their financial activities on the funding wallet. Helping with reconciliation, auditing and financial decision-making.