Correspondent Tie-Up: Connecting Payout Partners to RaaS

The question in full

A correspondent tie-up is the legal and technical 'bridge' that allows your US-based platform to talk to a bank or MSB in another country. To make this happen, you must facilitate a multi-stage vetting process—covering AML policies, API documentation, and flow of funds. This guide provides the roadmap for introducing these two entities and ensuring a successful 'handshake' that satisfies your Sponsor Bank’s risk committee.

Answer

If you have a licensed payout partner, you would need to tell them that you are willing to bring international remittance business to them; however, the US counterpart has requested to have a correspondent tie-up agreement (or payout agreement) with the payout partner and in this case, would like to get in touch with you, i.e., the payout partner.

How do I tell the payout partner in my beneficiary country to have a correspondent tie-up with the solution provider?

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