Onboarding

The process of onboarding with Backed is made of two key flows: KYC and platform configuration:

KYC

Clients who wish to use the Backed platform must first undergo a standard KYC process. This step is supported by our partner SumSub.

Different documents will be required depending on the type of the client.

Account for individuals

• Passport/ID copy

• Documents regarding Source of Wealth/Funds

• Onboarding forms available upon onboarding (Form A, Qualified investor form)

Accounts for Legal Entities

• Company documents, signed and dated:

  • Certificate of incorporation/good standing, Cert. of incumbency (less than 12 months old)

  • Shareholders register, Register of Directors, M&As

  • If a subsidiary of another company, company documents of the parent

• For an operating company: list all controlling persons and copies of their passport/ID

• For a domiciliary company (non-operating- indicators are lack of business premises of its own, no employees): list all beneficial owners and copies of their passport/ID

• The person opening the account (“representative”) needs to pass a live video identification call. If the person opening the account does not have rep. powers in the company documents submitted (e.g., Director), a PoA/board resolution authorizing the person opening the account to act in the company's name is needed.

• Onboarding forms available upon onboarding (Swiss AML Forms (A, K,S), Qualified investor form)

• Documents regarding Source of Wealth/Funds

Video Call Requirements ‍

• Passport or ID card

• Working webcam and microphone

• Computer with Windows or macOS, Chrome or Firefox web browser

Requirements for Passport/national ID copies

For a passport: a color photo in PDF, JPEG, or PNG. For a National ID: If the document has two sides, photos of both sides are needed in two separate files.

Platform Configuration

Users are approved to use the platform once they have passed the KYC and our Compliance checks.

Two final steps are required to start using the platform: Registering a wallet and confirming PayOut Settings.

The wallet can be registered on the platform via one of the following options:

• Confirm a transaction in the Wallet Browser (like Metamask)

• Signing a message

• Sending a microtransaction to a dedicated wallet that we provide