KYC
You must create the user before to submitting customer data for KYC approval
Required user data
You must submit the following user data:
Date of Birth
ID type (SSN)
ID Number
Address Line 1
Address Line 2
City
State
Postal Code
You should not store this information. It should be sent directly to Ratio from your front-end application.
Initiate KYC
KYC results
You have two options to notify the user the outcome of their KYC:
Poll for status:
Approved
Declined
In Review
Listen for the KYC event "KYC_UPDATED" in our webhooks
There are 3 common reasons why KYC status could = In Review:
The user has mistyped their Date of Birth
The user has recently moved, and therefore the address provided does not match the addresses available from our underlying data providers
The user has created an account using a phone number that is not under their name
If we cannot match any customer-provided information with their SSN you will receive a status of Declined. In most cases, when no customer information can be matched to the provided SSN, this is not a real user. This will not generate an end user support case.
Next steps
After KYC'ing a user, you need to link and verify a bank account, and assign a deposit address, before you can initiate an ACH transfer:
If you used wallet as the primary user authentication factor, then we have already set that as the deposit address. You can set additional deposit addresses as needed.
You are free to complete the remaining tasks in any order, however we recommend assigning the deposit address first (if you haven't already), and then linking their bank account.
You have two options to notify the user the outcome of their bank verification:
Poll for status:
Link status = Active
Verification status = Approved
If Vefification stauts = Declined stop polling and present error.
Listen for the bank verification event "BANK_UPDATED" in our webhooks
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