Onboarding

Account onboarding is the process that creates account holders and opens their first Swan account. This is the model behind it: the types, the purpose, and the statuses and notifications that span every onboarding.

Overview

Account onboarding is the process to create account holders.

One end result of onboarding is also creating the first account for the new account holder. Account holders complete a new onboarding to open another account, unless a company account holder uses Multiple Accounts.

Cross reference

During onboarding, users also complete an account holder verification process and authenticate (log in) for the first time. They might also sign up for Swan if they haven't already.

Types of onboarding

There are two types of onboarding, individual and company, directly linked to the two types of accounts Swan offers. Each onboarding has a unique onboardingId.

The individual and company onboarding processes are similar.

Type	Explanation
Individual onboarding	Create a new individual account holder. Open a new individual Swan account for that account holder.
Company onboarding	Create a new company account holder. Open a new company Swan account for that account holder.

Swan Banking Frontend

If you'd like to customize the onboarding experience for your users (while respecting local regulations), check out the open source Swan Banking Frontend.

Purpose of onboarding

Completing the onboarding process serves several purposes.

1. A new account holder is created.
2. The account holder's Swan account is created.
3. The person who performed the onboarding process becomes the legal representative of the account. They're also the account's first member with full permissions.
4. Your relationship with the account holder is stored in the partnershipStatusInfo field of the account object.

API sequence diagram

This sequence diagram depicts the onboarding flow with the API.

Verification and documents

Collecting supporting documents impacts multiple elements of the onboarding process. Consider these steps, including the statuses of both account holder verification and the supporting document collection.

Step	Event	Account holder verification status	Supporting document collection status
1	Onboarding created	Not yet created	WaitingForDocument
2	Onboarding finalized	NotStarted	PendingReview
3	Legal representative completes identification	Pending	PendingReview
4	Swan requests supporting documentsTipSubscribe to the webhook SupportingDocumentCollection.Updated. You'll be notified when a request is sent to collect documents.	WaitingForInformation	WaitingForDocument
5	Partner uploads new documentsTipIf needed, get a list of required documents. Then, upload missing documents.	WaitingForInformation	WaitingForDocument
6	Partner requests a collection reviewTipYou need to request a supporting document collection review after all supporting documents are uploaded. Request a review with the API or from your Dashboard.	Pending	PendingReview
7	Swan reviews supporting documents	Pending	PendingReview
8	(a) Swan approves the account holder	Verified	Approved
	(b) Swan needs more documents to verify the account holderTipGet the list of required documents and review the rejection reason. Then, return to step 4.	WaitingForInformation	WaitingForDocument

Mandatory documents

All requested supporting documents are mandatory to finalize an onboarding. Upload every document Swan requests before requesting a collection review.

In this section

1

Statuses

The onboarding lifecycle: Invalid → Valid → Finalized.

2

Notifications

Emails Swan sends during onboarding.