The crowdfunding platform will be the user of the Banking-as-a-Service APIs, which should onboard their clients—both parties participating in the investment: investors and borrowers. Onboarded investors and borrowers will be referred to as BaaS Clients of the crowdfunding platform.
BaaS Clients can be onboarded using the restricted account flow.
A restricted account is a fully functioning ConnectPay Client’s account, but the end user — the BaaS Client (the account holder) — does not have direct access to control the account(s) via ConnectPay channels (such as Online Banking or ConnectPay Mobile App). The BaaS Client will only be able to control the restricted account via the platform’s provided channel(s).
To open a restricted account for a private client (investor/borrower), see: Open an account for a private client – ConnectPay
To open a restricted account for a corporate client (investor/borrower), see: Open an account for a corporate client – ConnectPay
For more information about onboarding overall, see Onboarding – ConnectPay
Tips! ConnectPay requires the onboarding of both investors and borrowers participating in the crowdfunding platform business.