Review & submit
For Atlas for Platforms - Once you've added all of a sub-account's information, the final stage is to check the application and submit it to Verto's compliance team. This section covers how to review an application before submitting, how to submit it, and what happens afterwards.
Atlas for Fintech/KYB Reliance Model - this step is not required - after adding the required information, the sub-account will be automatically approved.
The flow
- Add all onboarding data and documents for the sub-account, including company details, directors, shareholders and owners, risk assessment answers, and required documents
- Call Get submission checks to see any issues still open on the application
- Resolve every BLOCKING issue and review every WARNING issue
- For Atlas for Platform, wait for the background checks to complete
- Call Submit application to send it to Verto's compliance team
- Verto reviews the application and may send you a request for information (RFI) by email
- Once approved, trigger the Terms & Conditions email to the sub-account's director
- The sub-account becomes fully active when the director accepts
Step 1: Review the application
Get submission checks returns every issue still open on the sub-account, so you can fix problems before submitting rather than finding out from a rejected submission. Pass tier=TIER_2. TIER_1 is not supported for sub-accounts at this time.
Each issue has a severity:
| Severity | Effect | Examples |
|---|---|---|
| BLOCKING | Must be fixed before the application can be submitted | FIELD_MISSING, FIELD_INVALID, DOCUMENT_MISSING, DIRECTOR_REQUIRED, SIGNATORY_REQUIRED, OWNER_REQUIRED, COUNTRY_NOT_SUPPORTED |
| WARNING | Advisory only, never blocks submission, but can delay compliance review | VERIFICATION_PENDING, DOCUMENT_TYPE_MISMATCH, DOCUMENT_EXPIRED, DOCUMENT_UNREADABLE, DATA_MISMATCH |
Instant and background checks
Two kinds of checks run behind this endpoint:
- Instant checks run on every request and return BLOCKING and WARNING issues.
- Background checks analyse documents and data asynchronously, including document age, readability and consistency with the data you submitted. They only ever return WARNING issues, which is why they run in a queue rather than in real time.
The backgroundCheckStatus field tells you where the background checks are:
| Value | Meaning |
|---|---|
NOT_STARTED | No background check has run yet, so only instant checks are included |
QUEUED / IN_PROGRESS | A background check is waiting or running |
COMPLETED | The latest findings are included |
FAILED | The latest run could not finish |
Subscribe to thechecks.completedwebhook rather than polling this endpoint to find out when background checks have finished.
Step 2: Submit the application
Submit application marks the application as submitted and places it in Verto's compliance pipeline. If any BLOCKING issues remain, the submission is rejected and the response tells you how many remain. Call Get submission checks for the full list.
Review WARNING issues before you submit. Warnings don't block submission, but pending identity verification and background-check findings can delay compliance review. Have someone on your team review every warning first. For Atlas for Platform, wait untilbackgroundCheckStatusisCOMPLETED.
| Status | Meaning |
|---|---|
200 | Submitted |
400 | Invalid request body, or a tier above the target tier |
404 | The company is not a sub-account |
409 | Already submitted, submission in progress, tier already reached, not submittable at this stage, or KYC level 0 |
422 | BLOCKING issues remain for the tier, or the tier is below what the selected products need |
Differences by model
| Atlas for Platform | Atlas for Fintech | |
|---|---|---|
| Compliance model | Verto conducts full KYB/KYC on each sub-account | Verto places reliance on your KYB/KYC framework |
| Document verification | Background document and data checks run after each data save | Document verification is not performed where reliance is in place |
| Before submitting | Wait for backgroundCheckStatus to be COMPLETED | Resolve all BLOCKING issues and review warnings is best practise from a tech point of view |
Sub-accounts at KYC level 0 are approved automatically and don't need submission. Both endpoints return a 409 for them.
What happens next
Verto's compliance team reviews every submitted application.
Standard applications take 2 working days, and high-risk industry applications take up to 5 working days.
High risk industry applications would include - Precious metals, any financial services entity (MSBs, Insurance, Banks), Crypto linked entities.
If compliance needs more documents or information, they will email you a request for information (RFI). Responding promptly keeps the review moving, so make sure the contact details on the application are accurate and monitored.
Once the application is approved, the sub-account isn't fully active until its nominated director accepts Verto's Terms & Conditions. Trigger the acceptance email with the Send T&C email endpoint. When the director accepts, the sub-account is ready for collections, FX and payouts.
In this section
| Endpoint | Description |
|---|---|
GET Get submission checks | Returns open BLOCKING and WARNING issues and the background check status for a sub-account |
POST Submit application | Submits the application for KYB/KYC compliance review |
Need help?
If you have questions about your application or need support, contact our enterprise API support team at [email protected] or reach out to your account manager directly.