Compliance Dashboard

  • Updated

1. Introduction to io.network

io.network enables 24/7/365 fiat and digital asset settlements for clients of the network in a safe, secure & compliant environment by leveraging our permissioned blockchain powered by our self-custody technology: io.vault.

Benefits for financial institutions:

  • Increased Revenues: This program provides an opportunity for the bank to generate new revenue streams from fees associated with digital asset trading, settlements, and interest generated from cash to be held in reserve for settlement purposes. 
  • Competitive Advantage: By offering a state-of-the-art instant-settlement platform, the bank can differentiate itself from its competitors and further establish a competitive advantage within the digital asset space.
  • Increased Efficiency and Reduction of Manual Workloads: The instant settlement platform will centralize all digital asset trades, which will increase the speed and efficiency of the bank's overall operations and reduce the risk of manual errors.
  • Enhanced Customer Experience: The platform will improve the customer experience and increase client's satisfaction with the bank's services. In turn leading to increased customer retention and acquisition.

1.1 Technology Background

io.network leverages our exclusive and innovative suite of technologies:

  • io.vault: a cryptographically enforced signing and self-custody technology solution that offers the network users the highest level of security and scalability for digital asset transactions.
  • io.chain: the permissioned blockchain on which the bank will issue and manage its own private digital assets for their clients.

1.2 Concepts

Concept Breakdown
io.network A private and permissioned distributed ledger based network, can be referred as ION
Principal Member or PM An io.network principal member is a network node operator and is capable of issuing and administering its own assets in a private sub-network for its own underlying clients on io.network
An Underlying Client An io.network underlying client is a principal members direct client that wishes to transact within the PM’s sub-network
Minting Tokens The action of depositing / creating tokens within the network for an aligned underlying client
Burning Tokens The action of withdrawing / removing tokens within the network for a specific underlying client
Allowlist smart contract In order for any io.network address to interact with a PMs administered assets it must be added by the PM to their allowlist smart contract which governs access for network participants to their administered assets.
Vault A grouping of digital wallets for any supported asset(s), which are controlled by secret shares.
Signing Threshold The number of secret shares required to enable the approval and signature of any request for a particular vault.
Secret Share(s) Sensitive cryptographic data that provides a user's device with an allocated level of signing power that is required when signing a digital asset transaction.
Signing Power

The number of secret shares a user controls on their linked device, as part of that particular vault signing party.

Signing Party The collection of signers and their linked devices that contain the totality secret shares within a particular vault.
Reshare request Users may submit a request to amend the threshold and signing party or create a new Vault. This request must be approved, by reaching the existing vault threshold and “signed” by the resulting signing party. This is known as a reshare request.
Vault Card A Vault Card displays the name of the Vault, total USD value of assets held within the vault, total BTC equivalent value of assets in the Vault, Vault Threshold, and an illustration of the individual Vault Signing Party members. 
Asset Card An Asset Card displays asset quantity and equivalent US$ value, as well as the wallet address of a particular digital asset within a given Vault. Displayed or hidden Asset Cards for a given Vault can be managed in the “Vault settings” tab.
Deposit Address A Deposit Address is the specific public address for the digital asset on the relevant blockchain/network that is cryptographically controlled by the underlying secret shares of the given vault.
Transaction Request A Transaction Request may be submitted via the dashboard by any user within an organization and is transmitted to the devices of a Vault’s signing party. The request includes the network, asset, destination address, and the quantity of asset to be sent. The request must be approved and signed by members of the Signing Party for the given Vault that have sufficient combined Signing Power to meet or exceed the Vault Threshold
PM's dedicated network account

A dedicated network account for the principal member is used for two processes;

  1. Where their underlying clients will deposit funds into when they want to deposit into the network 
  2. Is the location where the PM will transfer fund back to the underlying client when withdrawing from the network
PM Dashboard Naming convention for the dashboard of principal member
io.vault Dashboard Naming convention for the dashboard accessible by Vault users
PM Support Service Naming convention for the io.network support service
io.vault Support Service Naming convention for the io.vault support service
SLA's The SLA section within this document, shows what steps and actions we advice to have an agreed timeline against but this is not a contractual obligation and mainly for guidance 

1.3 Dashboard for Transaction Status

Concept Breakdown
Received The transaction has been received by a vault
Pending The transaction request is pending approval and signature
Expired The transaction request has expired
Rejected The transaction was rejected by enough of the vault signing party to make it impossible to reach to vault approval threshold
Signing  The transaction request has met the threshold for approval and is pending completion of the signature process
Failed The transaction was either determined to be invalid by the blockchain node/network, or the signature process failed during signing
Exec Failed The associated smart contract interaction on the network has failed, this can occur for various reasons such as incorrect permissions or attempting to send an invalid quantity of tokens
Broadcast

The transaction has been signed and broadcast successfully to the relevant network. 

Broadcast transactions may remain unconfirmed on the blockchain for some time and may still result in an incomplete transaction in certain circumstances, notably a failed smart contract interaction

Broadcast & Received

Where a transaction is made between two Vaults, a broadcast transaction will be displayed as broadcast & received

 

2. Getting setup with The Compliance Dashboard

In this section of the user guide, we will walk you through all aspects of getting started with the io.network compliance product. 

  1. io.network Compliance components;
  2. Accessing the compliance dashboard;

2.1 io.network Compliance components

  1. The io.network Compliance dashboard 

Used to view and manage all principal members compliance activities. This will also show all transactional activity which are processed via the compliance team via the reporting function. 

2.2 Accessing the compliance dashboard

As a member of the compliance team you will have access to the io.network compliance dashboard;

  • The io.network Compliance dashboard can be accessed by visiting app.iofinnet.com

Credentials - Login credentials will be provided by the io. Customer Office team directly to you via the automated onboarding email. Once you receive your login details, you will be required to reset your password upon logging in for the first time.  

Please Note - Administrators are documented during your on-boarding with io.finnet.

3. Getting To Know The Compliance Dashboard

In this section of the user guide, we will walk you through all aspects of getting started with the io.network compliance product. 

  1. Dashboard Views;
  2. Initial Threshold Setting;
  3. Threshold Adjusting;
  4. How to Review & Manage Compliance Flags;
  5. Transaction Profile & Status History Log
  6. How to block a client
  7. How to access QuickSight reporting

3.1 Dashboard Views

  1. Compliance Dashboard home page
    1. Includes list of live clients organised alphabetically 
    2. Includes five most recent flags and the associated details (sender, receiver, amount, rules broken, current status of the Compliance Flag). 
    3. Includes the “View All” CTA which allows Compliance users to view all Compliance Flags.
  2. Client Profile Page 
    1. After clicking on a specific client’s name, you will be taken to their Profile page. 
    2. This page contains compliance thresholds for each one of the rules (Max 24 hour number of transactions, Max 30 day number of transactions, Max 24 hour volume, Max 30 day volume, and Max Transaction Size). 

3.2 Initial Threshold Setting

When you are wanting to set a client's initial compliance thresholds, please follow the below process;

Process Ref Process Step
1

Click on a client in the "Clients' table on the Compliance Dashboard

2

Click on the "Manage Profile" button in the top right corner, and select the "Threshold Settings" tab

3

This will open a form which will show you the rules available to implement

4

Populate the rules as required

5

Click "Save"

Please Note

If "Save" was unsuccessful for any reason, please refresh the page and fill out the form again

3.3 Threshold Adjusting

When you are wanting to adjust a client's compliance thresholds, please follow the below process;

Process Ref. Process Step
1

Click on a client in the "Clients table on the Compliance Dashboard

2 Click on the "Manage Profile" button in the top right corner, and select the "Threshold Settings" tab
3 This will open a form which will show you the current implemented rules
4 Edit one or all the rules as required. Before you edit at least one rule, the "Save" button will be disabled
5 Click "Save"
Please Note If "Save" was unsuccessful for any reason, please refresh the page and fill out the form again

3.4 How to Review & Manage Compliance Flags

When you are wanting to review and manage recent compliance flags, please follow the below process;

Process Ref. Process Step
1

Access the compliance flags by:

  1. The “Recent flags” table on the Compliance Dashboard 
    1. This allows you to view the 5 most recent flags across all underlying clients, or to“View all” Compliance flags;
  2. Or, select a client from the “Clients”’ table on the Compliance Dashboard to view the ‘Compliance Flags’ for that client only
2 Filter transactions by 'Pending', 'Escalated' or 'Resolved' as required
3 Click on the transaction to view more details
4 In the transaction page, you can view the alert and transaction details, and the status history of the transaction
5 Review the transaction and update the status as appropriate by clicking the 'Pending', 'Escalated' or 'Resolved' drop down. The status update will appear in the Status History section

3.5 Transaction Profile & Status History Log

When you are wanting to review amendments made to the transaction thresholds, please follow the below process;

Process Ref. Process Step
1 To access the transaction profile and the status history log, select a client from the "Clients" table on the dashboard homepage
2

Click "Profile History" in the top right corner

3

From this view you can review amendments made to the transaction threshold, including date/timestamps, description of changes and editor, and block/unblock history

3.6 How to block a client

When you are wanting to block a client from making transactions on the network, please follow the below process;

Process Ref. Process Step
1 Click on a client in the "Clients" table on the Compliance Dashboard
2 Click on the "Manage Profile" button in the top right corner, and select the "User Access" tab
3 Client "Block" and confirm in the pop up window. Please note, blocking the client can take a few moments, do not refresh your page while this is in progress
4 Once completed, you will see a "Blocking successful" confirmation
Please Note To unblock a client that has previously been blocked, click "Unblock" and follow the steps as above
Please Note To view the history of clients block status, access "Profile History" from the clients dashboard
Please Note Blocked clients will have a red lock next to their name on the "Client" Profile page and also on the Clients' table. 

3.7 How to access Analytics reporting

When you are wanting access more information about a Client’s transactions that did not raise Compliance Flags, please follow the below process;

Process Ref. Process Step
1 To access reporting, select a client from the "Clients" table on the dashboard homepage
2 Click "Analytics" in the top right corner
3 From this view you can filter, review and export data as required. See here for Compliance Analytics user guide 

To access reporting, select a client from the "Clients" table on the dashboard homepage

Click "Analytics" in the top right corner

From this view you can filter, review and export data as required. See here for Compliance Analytics user guide.

 

4. Operational & Technical Support

In this section of the user guide, we will walk you through all aspects of operational and technical support within io.network. As a principal member there are nine key activities to take into consideration;

  1. Raising an issue or query to io,
  2. Reviewing issue / query updates 
  3. Support FAQs;

Please note – Process documentation will only show the interactions you are either involved in performing or where IO / Underlying clients are interacting with you

4.1 Raising a query or issue to IO

When you are wanting to raise an issue or query directly to IO as a principal member, please following the below process;

Process Ref. Process Step
1 There are two routes for you to raise an issue or query with io;
  1. Visit our website, click contact us in the top right corner and choose “help & support”;
  2. Choose the “Support” button within the io.network web-dashboard.
2. Once chosen, click “submit a request” in the top right corner of the screen
3 Then choose “Principal Member” from the topic dropdown 
4 Add your email address and click “you” from the who is facing the issue dropdown 
5 Once chosen, complete the rest of the form 
6 Once complete, click submit
7 Once submitted, you will receive an acknowledgement confirmation
Please Note Please add as much detail within the message area and attachments as possible. This will allow us to diagnose the issue or query within requiring any further information 
Please Note Once we receive the form, we will keep you updated through the process via notification.

4.2 Reviewing issue / query updates 

When you are wanting to review your open or closed tickets, please following the below process;

Process Ref. Process Step
1 Visit our support webpage, click “existing requests” in the middle of the page
2 If your not signed in, please sign up with your full name and company email
3 Once logged in, you will be able to see the following:
  • your requests (raised by you)
  • Requests you are CC’d in 
  • Organization requests (raised from your business)
4 To review further ticket information, click onto the ticket to see communications, status, requester, etc.
Please Note The company email you sign up with must be the same as what you logged when raising an issue ticket. 
  • If not, you will not see the support tickets

4.3 Support FAQs

Please use the following links for FAQ’s:

Please Note - You must be logged in to see the io.network / io.vault FAQ’s and user guides. It is very easy to sign up or in with your full name and company email.

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