Corporate KYB - UBO Additional Information Requirements
As part of our ongoing improvements to compliance and due diligence processes, we have extended the information captured as part of UBO applications; where UBO business ownership is 25% or greater.
For each qualifying UBO, the following information will need to be provided:
- Place of Birth
- Official ID
- Email Address
- Address, including country of permanent residence
Capturing of this additional information will be required, per qualifying UBO application, as of 12th April 2022.
Annual Corporate KYB Refresh.
As part of our ongoing improvements to compliance and due diligence processes, we have extended verification procedures; in connection with pre-existing corporate KYB information.
On an annual basis KYB information supplied will undergo additional verification. Information will be refreshed as part of this process, which will include corporate root users re-validating through the KYB process, and if necessary, for directors to provide updated KYC information.
Once a refresh has been initiated there are three indications:
- The corporate due diligence status will show a purple bar, stating KYB refreshing, on the Weavr portal.
- The corporate root user, and individual directors (if necessary), will receive an email advising the need to update due diligence information.
- A webhook event will be triggered that includes an additional “OngoingStatus” parameter, indicating the refresh progress.
Two additional email templates have been incorporated as part of the notification to root users and directors. Default branding is used for such templates, but these can be branded according to your corporate design. If you have not already provided input for branding in connection with these emails, and wish to update this, please contact us via our support portal https://support.weavr.io and our team will be able to provide assistance with your specific requirements.
Corporate & Consumer Charge Fee - Additional Transaction Details
When using the charge fee API, additional transaction details will be included within the response payload, including the state and transaction ID, allowing the correlation of transaction and associating fee.
- POST /consumers/fees/charge
- POST /corporates/fees/charge
Password & Passcode UI Components - New Submit Events
Password and Passcode UI components will support the use of enter key interactions for triggering events. Such events can be used instead of requiring users to click a button, allowing for smoother interactions and automatic form submissions.
Prepaid Cards - Fund Transfers on Destroyed & Expired Cards
When using the Transfer API, unloading of funds will be supported for prepaid cards in a destroyed or expired status. Such transfers must be to another managed account or managed card belonging to the same corporate or consumer identity.
- POST /transfers