Bank accounts for fintech companies

Fintech Account Opening Process: Step-by-Step Guide

Here’s a straightforward, step-by-step guide to our account opening process, designed to deliver a smooth and efficient experience for our clients:

01. Client Request
The client submits a request to open an account, and we schedule a discovery call to understand their business needs and goals.

02. Business Brief Creation
We prepare a detailed business brief required by banks and financial institutions (FIs). During this step, we also identify and select the most appropriate service providers for the client's needs.

03. Documentation Collection
We gather all necessary documentation from the client to ensure compliance with regulatory standards and facilitate the account opening process.

04. Application Submission
We complete the applications for the chosen banking partners, following best practices. Our team collaborates with the provider’s compliance department to address any questions or additional information requests.

05. KYB Verification
We undergo the Know Your Business (KYB) process, verifying the client’s business, ownership structure, and relevant details to comply with regulatory requirements.

06. Account Activation
Once all steps are completed and approved, the account is successfully opened, enabling the client to begin utilizing their account for transactions and business operations.