56 posts tagged with "Multi-v3"

Corporate due diligence - background checks on directors​

The onboarding process for Corporates has been updated and a single business representative (the Root User of a Corporate) can fill in all the required details to pass KYB.

The person filling in the KYB information can gather the required details of their company directors and UBOs and input/attach the information themselves, without those other directors/owners needing to login or perform any steps by themselves.

The step for UBO verification was included in the previous release (Release 22). This change involves the details required for all directors. The Root User will need to provide basic details (name, date of birth, nationality) of all directors (apart from any director performing full KYC).

An underlying AML check will be performed to confirm that the individuals are not included in any sanctions list.

You will receive STATUS_UPDATED updates for these individuals through the corporates/kyb/beneficiaries/watch webhook, where additionalInformation-> beneficiary-> type is OTHER_DIRECTOR , to indicate the status of the background checks.

In the unlikely event where any director fails these AML checks, causing the corporate to be rejected, Weavr customer support will provide guidance to determine the reason and steps for fixing this.

Removal of Mobile Number Verification APIs​

The consumer and corporate root users' mobile number verification Send and Verify APIs will cease to operate, superseded by the Enrolment APIs previously introduced.

To verify users' mobile numbers the existing Authentication Factors SMS Enrolment APIs should instead be utilised. Once enrolled, the user’s mobile number will be marked as verified automatically.

These Enrolment APIs are already available within the Sandbox environment and you can find more information on how to enrol users using the Authentication Factor APIs in our guides.

Affected APIs:

• /multi/corporates/verification/mobile/send

• /multi/corporates/verification/mobile/verify

• /multi/consumers/verification/mobile/send

• /multi/consumers/verification/mobile/verify

Kindly note, that if a root user device was enrolled using the affected API the device is not enrolled for Strong Customer Authentication (SCA). Therefore, we suggest, that once you develop the Authentication Factor API, you should prompt the end-user to enrol their device again. Alternatively, please contact customer support to help facilitate the re-enrolling of a device for a root user.

Token validity will be reduced to 5 minutes​

In line with regulation, we are changing the duration of validity for the token that is returned when authentication is performed. Currently, the token is valid for 15 minutes from the last activity; and this will now be changed to 5 minutes.

Affected APIs:

• /multi/login_with_password

OpenAPI Schema Version Upgrade​

The Multi API will stop using the OpenAPI 3.0.2 schema version and will start using the 3.1.0 version. The OpenAPI Specification can be found here

If you are using an OpenAPI generator you may need to confirm that the generator has support for this new version.

Sends Between Same Identity Instruments​

We have refined the validation in connection with the Send money-movement transaction.

When transferring funds between instruments, if the destination instrument belongs to the same identity as the source instrument, then a Send transaction will no longer be possible and a 409 will be returned with the error code “DESTINATION_BELONGS_TO_SAME_IDENTITY”.

For transferring funds between instruments on the same identity a Transfer type transaction is the correct method and should be used instead.

Data Insights - Cards Overview Enhancements​

Data Insights offers you the possibility to analyse your cards via the Cards Overview dashboard. We have enhanced the dashboard by including new details about your cards within the Card Details table. A new filter has also been added which allows you to filter on active cards.

Data Insights - Transaction Amounts Alignment​

Currently, in the following dashboards on Data Insights, all Transaction Amounts are displayed in your Billing (Reporting) Currency:

• Card Authorisations
• Card Settlements
• Managed Accounts Incoming Transfers
• Managed Accounts Outgoing Transfers
• Sends Overview

Following this release, the definitions of transaction amount columns within the Details tables will be aligned across all dashboards to ensure consistency and uniformity as follows:

• Transaction Base Amount: amount in your billing currency
• Transaction Amount: amount in the original transaction currency

Note that all other charts across these dashboards will not be impacted with this change and will still show amounts in your billing currency (i.e. Transaction Base Amount).

Corporate due diligence - requesting additional details through questionnaires​

Additional steps are being introduced in the Corporate KYB process flow, where through a questionnaire, details will be requested on the company itself and its directors. For the company, questions relate to business activity and expected volumes, whilst for the director performing KYC, questions relate to confirmation of PEP status.

The industry and source of funds information that is currently collected via the Create Corporate API will now be requested directly from the root user via the questionnaire. As such, the industry, sourceOfFunds and sourceOfFundsOther fields in the Create Corporate API will be deprecated (and set as optional for now) so that you do not have to request this information during your registration process.

The APIs affected are as follows:

• Post /multi/corporates , Get /multi/corporates , Patch /multi/corporates

• • industry, sourceOfFunds and sourceOfFundsOther have been deprecated
• • 409 SOURCE_OF_FUNDS_OTHER_MISSING has been removed

• Post /multi/consumers/kyb

• • 409 INDUSTRY_MISSING and 409 SOURCE_OF_FUNDS_OTHER_MISSING have been removed

Corporate due diligence - requesting additional details and documents for UBOs​

As part of the information requested during onboarding, when UBO details are being provided, the percentage of company ownership now needs to be entered for the individual UBOs.

For each UBO, a copy of the Id document as well as a proof of address document need to be uploaded by the root user, through a link provided. (Note that if the Id document contains the address, then this can be also used as the proof of address document.)

Production API Rate Limit​

Following our commitment to ensure high levels of service and availability, since 1st of December 2022 API rate limits for Sandbox environment have been in force.

From 27th February 2023, limits will also apply on production that are appropriate to the needs of your application, whilst preventing abuse. Limits can be increased on request by contacting support and will be based on your legitimate usage.

If API requests exceed these limits, an HTTP status code (429 - Too Many Requests) will be returned on each request to indicate this condition, until the frequency time window has elapsed. See response code 429 in the API documentation for more details.

View SCA challenge details per transaction type in the Innovator Portal​

You can now view the SCA challenge details of your Send and OWT transactions, directly from the Innovator portal. All SCA challenge activity and history initiated by your users can also be tracked in the Innovator portal user’s details screen.

Updates to the Consumer due diligence process​

An additional step is being introduced to the Consumer KYC process flow, whereby individuals are now required to provide additional details. Details collected vary depending on the KYC level chosen.

The occupation and sourceOfFunds information that is currently collected via the Create Consumer API will be included in this new step for the individuals to fill in directly. The occupation and sourceOfFunds fields in the Create Consumer API are being deprecated and thus you do not need to request this information during your registration process.

The APIs effected are as follows:

• Post /multi/consumers

• Get /multi/consumers

• Patch /multi/consumers

• • rootUser.occupation, and sourceOfFunds and sourceOfFundsOther have been deprecated.
• • 409 SOURCE_OF_FUNDS_OTHER_MISSING has been removed.

• Post /multi/consumers/kyc

• • 409 SOURCE_OF_FUNDS_OTHER_MISSING has been removed

SEPA Instant wire transfers​

Wire transfers made within the European SEPA network will now use SEPA Instant Credit Transfer (SCT Inst – hereafter “SEPA Instant”) if the receiving bank supports this payment method.

Here are some more details:

• Outbound wire transfers up to €15k will automatically be routed via SEPA Instant, subject to an automatic check that the receiving bank/FI supports it.

• In cases where the receiving bank/FI does not support SEPA Instant, the payment will automatically fall back to normal SEPA and continue successfully, all else being correct.

• SEPA Instant provides payment rails that are available 24/7 and 365 days per year.

• Existing features and procedures of SEPA payments remain the same (such as EUR currency, SCA two-factor authentication requirement).

There are no additional charges for our customers to use SEPA Instant compared to the previous standard SEPA wire transfer fees. Enjoy!

View SCA enrolments and challenge history in the Innovator Portal​

You can now view the SCA enrolment status of your Corporate and Consumer users, directly from the Innovator portal.

All SCA challenge activity and history initiated by your users can also be tracked in the Innovator portal user’s details screen.

Duplicated OWTs in statement​

This change addresses a bug where OWTs appeared to be duplicated on the Managed Account Activity Statement in the portal.

The purpose of the two entries has now been made clear. One record shows the status of transaction, and the other record indicates when the debit entry has been made, reducing the account’s actual balance.

Example of how an OWT is shown at various stages:

OWT submitted and being processed:

OWT completed (funds sent from source instrument):

Data Insights Managed Outgoing Transfers dashboard enhancement​

Data Insights offers you the possibility to analyse your outgoing wire transfers via the Managed Accounts Outgoing Transfer dashboard. We have now enhanced the dashboard by including transfer type details to be able to distinguish between the different transfer types at transaction level.

Updates to the charge fees and access token back-office APIs​

A new /fees/charge endpoint has been added to the back-office API that replaces both the consumer and corporate charge fee endpoints.

A new /access_token endpoint has been added to the back-office API that replaces the /impersonate_identity_login.

Please note that the following back-office APIs have been marked as deprecated:

• corporates/fees/charge

• consumers/fees/charge

• impersonate_identity_login

Change of SMS Sender ID from "Weavr" to "AUTHMSG"​

We have made improvements to the Sender ID of the SMS that is sent during 3DS verification. “Weavr” will no longer be shown in the SMS and the SenderID shown in several countries will be “AUTHMSG” which is a more generalised Sender ID.

Data Insights Dashboard Enhancements​

We are continuously working on improving the functionality within Data Insights to allow you to analyse and understand your data better. As part of this release, we have worked on enhancing our dashboards by introducing the following functionality:

1. A new filter has been added across all dashboards (where applicable), which gives you the option to filter activity within the platform at ‘Programme Name’ level. This is especially beneficial in cases where a number of sub-programmes/applications are set up within your profile.

2. The detailed table within the Physical Cards Overview table has been updated to also include the 'Physical Delivery Tracking Number'.

Mobile Friendly Data Insights​

We’ve improved the data insights tab in the Innovator portal. You can now view and interact with the dashboards from your mobile device.