Step 1: Creating an Embedded Partner Customer (Business)

How Embedded Partner Customer creation works

Embedded Wallets allow Embedded Partners (EP) to offer seamless payment and fund management capabilities directly within their platform while maintaining their branding. This guide provides a step-by-step process to create Embedded Partner Customer (EPC) accounts utilising Embedded Wallets via the BVNK Portal.

This product is available to businesses (with support for Consumers / Individuals coming soon) based in the US, UK, EEA, and other countries supported by BVNK outside of these regions.

How to get started

Initiate the activation process

The Embedded Partner representative should contact their BVNK Account Manager to initiate the activation process.

Complete compliance procedures

Once compliance reviews are complete, the Embedded Wallets product will be enabled on the BVNK Portal and accessible via API. Following this, Embedded Partner Customer accounts can be created.

Step 1: Add an “Embedded Partner Customer”

This step allows for the creation of a new Embedded Partner Customer within the BVNK platform to whom wallets can be assigned. This step is pivotal, as without adding an EPC through the My Customer section, you will not be able to follow the next steps to manage your customers within the BVNK platform.

For example, if your business is a financial institution that services businesses, you would first be required to add the Embedded Partner Customer under your My Customer section of the BVNK platform. This will facilitate your Embedded Partner Customer to execute payments via BVNK through your platform.

How to do it:

Log in to the BVNK Portal
- Navigate to "My Customers" tab.
Add a new Business Customer
- Click on "Add New Customer" button.
- Fill out the customer information form with the following details:
  - Business Name
  - Country of Incorporation
  - Business Industry
  - Business Description
  - Business Risk Level Indicator (Low, Medium, High)
Review and submit

Verify the entered information for accuracy.
Click "Confirm" to register the customer or "Back" to make changes.

Agreement consent
- After submission, the customer will move to the “Agreements Pending” state.
- The Embedded Partner Customer must agree to BVNK’s Terms of Service during the registration process.
- Provide the agreements link:
  - In the customer side panel view, copy and share the Agreements link with your Embedded Partner Customer. The Embedded Partner Customer must consent to BVNK's Terms of Service to proceed.
Verification data submission
- Once consent is provided, the agreement status will automatically update to SIGNED, enabling the next step of verification.

Step 2: Customer verification

The verification process ensures compliance with BVNK's Due Diligence requirements and is essential for activating Embedded Wallets. The required information and documents for the Know Your Business (KYB) process are provided via a hosted experience accessible via the verification link.

How to do it

Access the verification link

The verification link to access BVNK’s KYB/KYC process can be found the customer side panel view.
If additional data is required, the verification link allows the Embedded Partner to provide the necessary documents or information.
Embedded Partners use KYB/C link to submit key information about your Embedded Partner Customer.

Provide additional Embedded Partner Customer information

Embedded Partner Customer information include (but not limited to):

Personal or business details (e.g., name, email, and address).
Unique identifiers such as Social Security Number (SSN), Tax Identification Number (TIN), business registration number etc.
Supporting documents, such as proof of identity, proof of address, or business registration certificates.

Complete verification

BVNK performs Know Your Customer (KYC) and Know Your Business (KYB) checks to verify the identity and legitimacy of the Embedded Partner Customers.

Verification outcome

Once the verification process is complete, the Embedded Partner Customer's status is updated in BVNK’s system. Approved Embedded Partner Customers can immediately access payment services, while for unsuccessfully verified customers, you may be asked to provide additional information or documentation.

Approved customers will automatically have wallets assigned to them.