Atlas for Fintech - X2B Collections Overview

Verto’s B2B collection solution enables financial institutions and fintechs to seamlessly offer local collection capabilities in new markets. With this feature, your customers can:

• Get paid effortlessly via local bank transfers in local currencies.
• Convert local currencies to major currencies (e.g., GBP, EUR, USD, CNH, INR).
• Transfer funds to a designated account or facilitate onward remittance to end customers.

Currently, this service is available in NGN (Nigeria), with KES (Kenya) planned for early access in Q1 of 2025. Expansion to other African markets is underway.

Key Benefits

• For Developers: Simplified API integration to set up accounts, collect funds, and manage FX conversions.
• For Businesses: A cost-effective and efficient way to expand local payment capabilities.

How It Works

Here’s a high-level flow for using the B2B Collections service:

• Create a Sub-Account
  Set up a sub-account for your users by passing the required KYC/KYB information.
• Request Local Bank Account Details
  Generate a local bank account linked to the sub-account.
• Collect Funds
  Use the local bank account to collect payments, which are then moved to the parent account.
• Convert to Desired Currency
  Leverage Verto’s FX capabilities to convert funds to major currencies.
• Payout
  Transfer funds to your bank account or perform onward remittance to end customers.

Visual Overview

Setting up a Sub-Account and Generating Bank Account Details

Converting and Sending Out Funds

Important Notes

• The service currently supports business accounts only.
• NGN collections are live, with KES and other African currencies to follow.

For technical details, refer to the API Reference.