Sub-accounts — 1. Creation & onboarding

This guide covers creating a sub-account and submitting the required KYB data for automatic approval.

Please note this only covers Atlas for Fintech Use Case - For Atlas for Platform please follow the correct guide.

Step 1 — Create the sub-account

Create a sub-account using the Create Sub-Account endpoint. Provide the business details of your underlying client.

{
  "name": "B Integrated",
  "country": "China",
  "subCategory": "Agriculture and farming",
  "identificationNumber": "23453447",
  "taxIdOrEin": "112",
  "externalId": "pass_7784577",
  "accountType": "SUB_CLIENT"
}

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subCategory validation

The subCategory value must exactly match one of Verto's supported industry classifications, including spacing and capitalisation. An invalid value will return a 400 error.

Further information is avaible here Industries

A successful response returns the sub-account id and an initial companyStatus of CREATED.

Step 2 — Submit KYB data

Once the sub-account is created, submit the required KYB information using the Add Onboarding Data endpoint. This includes company address, company type, and UBO (Ultimate Beneficial Owner) details for any individual owning 25% or more of the business directly or indirectly.

{
  "companyAddresses": [
    {
      "action": "ADD",
      "data": {
        "addressLine1": "1600",
        "addressLine2": "Amphitheatre Parkway",
        "city": "Mountain View",
        "state": "California",
        "country": "United States",
        "zipCode": "94043",
        "type": "COMPANY_ADDRESS"
      }
    }
  ],
  "company": {
    "type": "Private Limited Company"
  },
  "shareholders": [
    {
      "action": "ADD",
      "data": {
        "percentOwnershipInCompany": 25,
        "ownerType": "INDIVIDUAL",
        "firstName": "John",
        "lastName": "Smith",
        "nationality": "United States",
        "isControllingOfficer": true,
        "dateOfBirth": "1990-01-15",
        "address": {
          "addressLine1": "10 Example Street",
          "addressLine2": "Suite 2",
          "city": "Lagos",
          "state": "Lagos State",
          "country": "Nigeria",
          "zipCode": "100215",
          "type": "HOME_ADDRESS"
        }
      }
    }
  ]
}

The minimum required fields for approval are:

• Company details (name, country, subCategory)
• Company address (addressLine1, city, state, country, type as COMPANY_ADDRESS)
• At least one shareholder (firstName, lastName, dateOfBirth, addressLine1, city, state, country, type as HOME_ADDRESS)

You do not need to submit all fields in a single call. Once all required data is present, the sub-account companyStatus will automatically update to approvedif not, sanctions hits are detected.

If sanctions hits are detected, we will review them and after clearing them, the status will move to

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Reliance-based approval

Atlas for Fintech sub-accounts are approved on a reliance basis. Verto relies on the KYB data you submit without requiring additional manual review. Ensure the data you submit is accurate and consistent with the client's registration documents, and the policies and preducres that where approved by Verto.

If you have not been approved for downstream services we recommend speaking to your account manager/sales manager before integrating with Verto to ensure the correct model is chosen for your use case and regulatory approach.

Sub-account statuses