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Faq’s

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  • 01What is Octalas BaaS?

    Octalas BaaS is the Banking-as-a-Service division of the Octalas Group, providing businesses with IBAN issuing, payments, FX, digital banking infrastructure, card issuing, compliance tools, and treasury services powered by EQIBank.

  • 02Who can use Octalas BaaS services?

    Our services are designed for fintechs, payment companies, financial institutions, trading platforms, marketplaces, and global businesses requiring embedded banking or digital financial infrastructure.

  • 03Is Octalas BaaS regulated?

    Octalas BaaS operates under licensed and regulated banking partners, including EQIBank, ClearBank, CurrencyCloud, and other global financial institutions. Octalas itself acts as a technology and distribution partner.

  • 04What products does Octalas BaaS provide?

    We offer virtual IBANs, multi-currency accounts, SWIFT and SEPA payments, card issuing, compliance connectors, FX hedging, treasury services, merchant payments, and API-driven financial infrastructure.

  • 05Does Octalas BaaS offer white-label solutions?

    Yes. Businesses can launch fully branded accounts, cards, payment flows, and digital banking experiences using our white-label or co-branded models.

  • 06How long does onboarding take?

    Onboarding time depends on the business model and compliance requirements. Low-risk entities can be approved within 3–7 business days, while higher-risk or complex structures may require additional documentation.

  • 07What countries are supported?

    We support global clients across Europe, the Middle East, Asia, Africa, and select regions of LATAM. Availability depends on regulatory requirements and risk classification.

  • 08Do you provide API documentation?

    Yes. Octalas BaaS provides full API documentation for payments, accounts, card issuing, FX, reporting, and onboarding so clients can integrate financial services directly into their platforms.

  • 09What compliance tools are available?

    We integrate with leading compliance engines including ComplyAdvantage, Subsubm, KYC, AML, KYB verification, transaction monitoring, and fraud detection.

  • 10How can my business get started?

    Simply contact the Octalas BaaS team through our website, provide your business details, and our team will guide you through the onboarding, integration, and launch process.

Compliance FAQ's

1. What documents are required for company KYC (KYB)?

We require: company certificate of incorporation, memorandum & articles, list of directors & shareholders, ultimate beneficial owner (UBO) information, corporate resolution authorising account opening, proof of business address, and authorised signatory IDs. Additional documents may be requested for specific jurisdictions or risk profiles.

2. How long does onboarding and KYC usually take?

Typical onboarding time is 3–10 business days after receiving complete documentation. Complex corporate structures or Enhanced Due Diligence cases can extend this timeline; we will notify you promptly if additional checks are needed.

3. What is Enhanced Due Diligence (EDD) and when is it applied?

EDD is a deeper level of review required for higher risk customers (complex ownership, politically exposed persons, high-risk jurisdictions, unusual transaction patterns). It includes additional documentation, source-of-funds verification, and senior compliance sign-off.

4. How does Octalas BASS monitor transactions for AML?

We use automated transaction monitoring systems that flag unusual behaviour by rules, thresholds and machine-assisted pattern recognition. Alerts are reviewed by compliance analysts; high-risk alerts trigger case investigations and possible account restrictions pending review.

5. Do you screen against sanctions and watchlists?

Yes. We run continuous screening against global sanctions lists, PEP databases, and adverse media sources via our compliance connectors. Any positive matches are escalated and handled according to regulatory requirements.

6. How is customer data protected during compliance checks?

All personal and corporate data is processed under strict data protection policies and encrypted in transit and at rest. Access is role-based, logs are retained for audit, and we comply with applicable data protection laws (e.g., GDPR) and local regulations.

7. What onboarding fees or checks are charged for compliance?

Standard KYC/KYB checks are included as part of onboarding. Enhanced checks (EDD), third-party verification fees, or bespoke compliance projects may incur additional charges; any such fees are disclosed before execution.

8. How do you handle cross-border compliance and local requirements?

We maintain jurisdictional compliance matrices and local regulatory knowledge for key markets. For cross-border flows, we apply both the origin and destination compliance checks, and consult local counsel where necessary to ensure compliance with local laws.

9. Can clients integrate third-party AML providers (Sumsub, ComplyAdvantage)?

Yes — Octalas BASS supports integration with leading compliance connectors such as Sumsub and ComplyAdvantage. Clients can leverage these integrations for streamlined KYC/KYB, ID verification, sanctions screening, and transaction monitoring.

10. What happens if a compliance alert triggers on my account?

We will contact the account holder for clarification, request supporting documentation, and may temporarily restrict account activity while the alert is investigated. If a serious regulatory issue is identified, we will follow legal obligations which may include reporting to authorities.