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Multi API v3.28

· 3 min read
Dragos Tigoianu

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 AccountsManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. Incoming TransfersTransfer A transaction that moves funds between instruments managed by Weavr. The source and destination instruments of a transfer transaction must be owned by the same identity. Transfers can be scheduled for future execution and can be performed in bulk operations.
  • Managed AccountsManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. Outgoing TransfersTransfer A transaction that moves funds between instruments managed by Weavr. The source and destination instruments of a transfer transaction must be owned by the same identity. Transfers can be scheduled for future execution and can be performed in bulk operations.
  • SendsSend A transaction type that allows sending funds to another identity's instrument or to a beneficiary. Send transactions may require Strong Customer Authentication depending on the destination and whether it's a trusted beneficiary. 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 KYBKYB Know Your Business - the identity verification process for corporate identities. This process allows you to seamlessly and securely verify your business customer's identity. Weavr will ask users to submit the necessary information and documentation so that they can get approved by financial providers. 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 KYCKYC Know Your Customer - the identity verification process for consumer identities. This process allows you to seamlessly and securely verify your user's identity. Weavr will ask users to submit the necessary information and documentation so that they can get approved by financial providers., 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 userRoot user The individual who creates the identity. For corporate identities, the root user needs to be a legal representative of the corporate such as a director or a representative who has the power of attorney over the company. For consumer identities, the root user is the owner of the identity. Every identity must always have one 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 userRoot user The individual who creates the identity. For corporate identities, the root user needs to be a legal representative of the corporate such as a director or a representative who has the power of attorney over the company. For consumer identities, the root user is the owner of the identity. Every identity must always have one 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 SCASCA Strong Customer Authentication - a two-factor authentication solution required by PSD2 regulations for when end-users are accessing their payment account sensitive information or initiating transactions. SCA requires at least two of the following: something you know (password), something you have (device), or something you are (biometrics). challenge details per transaction type in the Innovator Portal​

You can now view the SCASCA Strong Customer Authentication - a two-factor authentication solution required by PSD2 regulations for when end-users are accessing their payment account sensitive information or initiating transactions. SCA requires at least two of the following: something you know (password), something you have (device), or something you are (biometrics). challenge details of your SendSend A transaction type that allows sending funds to another identity's instrument or to a beneficiary. Send transactions may require Strong Customer Authentication depending on the destination and whether it's a trusted beneficiary. and OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. transactions, directly from the Innovator portal. All SCASCA Strong Customer Authentication - a two-factor authentication solution required by PSD2 regulations for when end-users are accessing their payment account sensitive information or initiating transactions. SCA requires at least two of the following: something you know (password), something you have (device), or something you are (biometrics). challenge activity and history initiated by your users can also be tracked in the Innovator portal user’s details screen.