Counterparties
What is a counterparty?
Overview
Counterparties allow for enhanced compliance and transparency in financial transactions. They represent the individuals or businesses involved in transfers, both as senders and receivers. With counterparties, Cybrid's partners can provide detailed information about the source and destination of funds. This enables proper sanction screening and helps meet regulatory requirements.
Model
{
"created_at": "2024-09-19T23:36:58.367733Z",
"updated_at": "2024-09-19T23:36:59.791494Z",
"guid": "926f24ed35aebb8bb45623283e614099",
"type": "individual",
"bank_guid": "1be48364627acfc337ca6fbba33b2a2b",
"customer_guid": "fa965bff1576663b7b4443d38ec17345",
"state": "verified",
"labels": null,
"compliance_decisions": [
{
"type": "pesrson_watchlists",
"state": "passed",
"failure_codes": []
}
[
}
{
"created_at": "2024-09-23T16:51:12.669696Z",
"updated_at": "2024-09-23T16:51:13.969713Z",
"guid": "83716793476895a971f7fc232ce202e9",
"type": "business",
"bank_guid": "6d4b482333cd832ddef0aba9358aba57",
"customer_guid": "5bfe74c58106343b36f53221db8df26e",
"state": "unverified",
"labels": null,
"compliance_decisions": [
{
"type": "business_watchlists",
"state": "passed",
"failure_codes": []
}
[
}
type
type
The type
of a counterparty can be of type individual
or business
. The counterparty type
affects the type
of compliance_decisions
and the method
of screening that is applied during counterparty verification.
state
state
storing
storing
A successful POST /counterparties
will return a state
of storing
as the entity is created on the platform.
unverified
unverified
A counterparty will automatically move from storing
to unverified
once the entity has been successfully created.
verified
verified
When a counterparty state is verified
they can be used as a transfer participant in POST /transfer
calls.
rejected
rejected
If an identity verification of a counterparty contains a failed compliance_decision
the counterparty state
will be updated to rejected
.
compliance_decisions
compliance_decisions
An array of decisions determined by the verification of a counterparty. Each compliance_decision
contains a type
, state
and any failure_codes
that may be returned.
Updated about 21 hours ago