Entities

Summary

An entity represents the party on whose behalf payments are made within the platform. An entity may correspond to either an individual or a business organization.

Each entity can have one or more associated users, allowing multiple individuals to access and manage the same entity as needed.

To create an entity, a valid platform_id must be provided. This identifier is issued by your implementation manager during onboarding and is required for all entity creation requests.

Entity States

1. Accepted: Initial entity data has been staged on the Routefusion system
2. Finalized: The entity details have been finalized and committed to Routefusion
3. Pending: The entity onboarding process is underway
4. Request For Information: A request for information is open for the entity
5. In Review: The request for information has been completed by the customer and is being reviewed
6. Rejected: The entity has been rejected from onboarding to Routefusion
7. Verified: The entity has passed onboarding and can begin interacting with Routefusion

Compliance Requirements

Entities may need to undergo a compliance check depending on your approved model. This process ensures that the entity meets regulatory and legal standards, including:

• Identity Verification: Confirming the identity of the entity.
• Risk Assessment: Evaluating the potential risk associated with the entity.
• Regulatory Adherence: Ensuring compliance with anti-money laundering (AML) and Know Your Customer (KYC) regulations.

Uniqueness Constraints

Each organization must maintain uniqueness for entity identifiers to prevent duplicate records:

• Business Entities
  • business_name must be unique within the organization.
  • tax_number must be unique within the organization.
• Personal Entities
  • email must be unique within the organization.
  • tax_number must be unique within the organization.

Note

Requirements for creating an entity may change if you are not currently onboarded with Routefusion. Compliance requirements may also vary based on the nature of the entity and the jurisdiction in which it operates.

Permission Requirements: Admin