Customers

Overview

This section describes the use cases related to the creation, verification, and management of customer records within the Interlace platform. On the Interlace plaform, each customer is linked to your end customer or the application user for whom you are providing a financial product.
Interlace allows the creation of both individual and business customers on the platform, enabling the association of corresponding bank accounts.

Our Customer APIs support the submission of collected customer information, customer verification including step-up processes, and the creation of customer profiles within the Interlace virtual account system. Once a customer is created, you can establish associated accounts and manage ongoing customer servicing through our customer maintenance APIs.

Use Cases

Verify Customer with Infinant

In most cases, the customer will be verified prior to creating a customer record on the Interlace platform. This includes processing Know-Your-Customer (KYC) and Business (KYB) verifications. Infinant offers optionality in performing KYC and KYB that can be configured by channel and program. This includes the ability to have verifications performed by a selected third-party provider and shared within the Interlace Console and through results to the initating digital application.

Infinant offers pre-integrated options to verification providers that offer KYC with added step-up processes for ID verification and liveliness testing.

For more details see Verify Customer KYC/KYB

Verify Customer through Partner

Infinant supports the ability for the bank to rely on a third-party partner to conduct the verification to the bank’s approved KYC provider. In this case, Interlace can be provided the KYC results to validate and to display the KYC result details in the Interlace Console.

After successful verification, you can create a customer on Interlace. Multiple options are avaialable to define the customer relationship during the onboarding process. Please note that some of these non-default behaviors require aditional configurations. Note that Interlace does not support creating an unverified customer prior to the KYC check to support certaion prospect use cases.

Customer Creation using Applications

Interlace supports the ability for a digital application to send cusotmer and account information in one call as part of an application object. Interlace can parse the collected information to orchestrate the necessary API calls across customer verification and creation as well as account setup and configuration based on the intended product. This allows for a third-party application to gather all the information up front and pass it to Interlace.

Customer Creation for Control Accounts

In certain scenarios businesses will process payments on behalf of individuals, whether that is a Loan Repayment, Tax Payments, or a Employment Incentive program, Businesses need the ability to maintain a Ledger for these payments. In these instances the Business may not need to go through KYB or KYC, as the FinTech Partner is the custodian of the funds, before they are payed out. For this purpose our platform uses a special Control Account, which allows for the bypass of KYB/KYC. Please speak to your Sponsor Bank Representative, if your Progam qualifies for Control Accounts.

Get Started

To get started with creating a customer on Interlace, follow the next steps…