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

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

storing

A successful POST /counterparties will return a state of storing as the entity is created on the platform.

unverified

A counterparty will automatically move from storing to unverified once the entity has been successfully created.

verified

When a counterparty state is verified they can be used as a transfer participant in POST /transfer calls.

rejected

If an identity verification of a counterparty contains a failed compliance_decision the counterparty state will be updated to rejected.

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.