In this section of the user guide, we will walk you through all aspects of onboarding to io.flow. As a underlying client there are 5 keys activities to take into consideration.
2.1 Onboarding to io.flow
The first step is to gather key documentation to onboard with Io.finnet, we perform this by carrying out basic Know Your Customer (KYC) checks . The following KYC information is required but not limited to.
- Incorporated business name
- Licence or certification of registration number
- Money Service business registration number
- Fillout an intake form for Intended payment rails, currency and volumes
- Sign the Io.finnet membership agreement
2.2 Onboarding to EMI Documentation Requirements
Once you are onboard to io.flow, you need to complete the EMI agreement and application form. This is required to be reviewed, signed, and returned independently from Io. The following KYC information needs to be supplied, but not limited to.
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License Details: |
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2.3 EMI Compliance Checks
The EMI will then review and verify your application's documents. This will allow the EMI to set up your currency omnibus accounts.
Please Note -This part of the process can take up to 12 weeks to complete. We will keep you informed throughout the review process and continue to onboard you to other areas of the business, such as customer support processes and agreed support levels.
2.4 Account Opening
Your account details will be provided to you once the accounts are operational . The credentials should be used to deposit funds into your account.
2.5 API Integration
Once your account has been opened with the EMI we will schedule your integration kickoff call with io. delivery team. Information shared during kickoff call:
- API - Technical documentation and user guide
- Touchpoints - Setup regular touchpoints to support your integration throughout its journey
- Communication - Support communication channel for pre and post integration
- Wire instructions - Pay-in and pay-out
Please inform us of any additional currencies you would like to integrate so that we can provide guidance on how and have support resources available.
Please Note - Additional EMI’s will be available soon along with additional currencies being supported.