What is the time frame to get approval from the solution provider?

Typically, finding you a solution provider takes about 10 business days. The actual sign-up process, once a solution provider has decided to accept you in principle is about 3-5 weeks for due diligence to be completed on you. There is no concrete number on this time frame. Depending on the load with the compliance department, and the licensed financial institution in question, this could be as short as one week and as long as five weeks. Once the approval is granted, signing the contract with the licensed financial institution on the agreed term sheet and contract as provided by them, typically takes between one to two weeks maximum.

Suggested Video(s)

—

This page was last updated on February 17, 2023.

–

Related posts:

  1. Is approval by a solution provider (i.e. licensed financial institution) guaranteed?
  2. We want to apply for a white label solution, can you explain the benefits of using your API as compared to a pre-built API from the solution provider?
  3. Requires Special Approval
  4. Can we propose our own payout provider? How long does due diligence take and are there any extra costs associated? What is required of us and from the payout provider?
  5. Are you a Solution Provider? Work with us!
Share with others...