This release includes updates to Hosted Onboarding and addClient. There are no breaking changes.
Hosted Onboarding: Invite an Owner
We're introducing Invite an Owner to hosted onboarding. An owner may not always be the person who begins the application, but now there's an easy way to privately and securely add the business owner's information at a time that works best for them. Invite An Owner creates a secure link that can be sent to the business owner and saves their information as they progress. Read more here.
addClient Mutation
We are no longer requiring the firmID in the addClient mutation. This is now optional when using a firmApiToken token.
Fixes
-
We fixed a bug with ACH payments in which the status of failed payments was marked as pending. Failed ACH payments will now result in status = error.
Sales Insight: Beneficial Owner Regulations
At Confido Legal, we are often asked why we require so much information from business owners. This is driven by regulations that we are obligated to follow as a payment processor. Each individual who directly or indirectly owns 25% or more of a business is considered a "beneficial owner" of that business. We must obtain certain information to identify and verify each beneficial owner. To do this, we gather the following:
- Full Name
- Role or Title
- Social Security Number
- Home address
- Date of Birth
- Photo ID
Don't have API access yet?
