How to Submit a Detailed Flow-of-Funds (FoF)

FLOW OF FUNDS

To move forward, explain your transaction set and flow of funds to us. A transaction set is a financial movement task (payment, processing, settlement, etc.) that your system will perform. We need you to explain how this works from your perspective—right or wrong. Legally and structurally, the transaction set and flow of funds must originate from you. We and the solution provider will then refine it to align with regulatory requirements.

DO NOT ERASE ANYTHING FROM THE WHITEBOARD.

Step-by-Step Instructions

Use a white sheet of printer paper (use multiple sheets if needed) or a whiteboard.
Draw rough circles or boxes to depict the geographies involved in your transaction. For example, one circle for the US, one for the EU, one for Singapore, etc.
Add entities within each geography. Use a stick figure for a customer, a small house for a business, a bank symbol for a financial institution. Use arrows to show where the transaction originates and where it terminates (who benefits).
Include concrete figures. For example: A customer (stick figure) in the US sends USD 100 to a business (house) in Singapore, which receives SGD XXX. Show the full path and how the transaction moves or settles between geographies.
Clearly identify any conversions, currency exchanges, or transformations that occur in the flow.
Always show the flow of money and the flow of funds at every step.
Be as granular as possible. Show every hop, every conversion, every intermediary.
At each stage, identify which entity holds the funds. This is critical.
If you ever have control of customer funds—even for a single second—explicitly mark this. This is extremely critical for compliance and regulatory clarity.
Complete this exercise for all of your transaction types.

Recording and Submission

Record a video on your mobile phone explaining your whiteboard or paper as you walk through it. Speak clearly in your own voice. Don't worry about appearance—we only care about the explanation and the diagram.

Submit your video via:

WeTransfer (wetransfer.com)
Google Drive link
Email attachment

Include a brief note identifying who you are and what transaction set(s) the video covers.

Looking forward to your submission.