Changes in the Account Holder workflow

As part of our ongoing efforts to improve Devengo services, we are introducing new changes to the Account Holder entity.

Why the change?

While Account Holders are a core concept used by all our customers, we recognize that our Technical Partners rely on this functionality most heavily as they onboard and manage multiple customers through our platform. We are developing a sophisticated onboarding pipeline that will automate a significant portion of the production activation process for their customers. This automation will streamline operations for Technical Partners while maintaining the robust security and compliance standards that all our customers expect.

These enriched data requirements will serve as the foundation for our new automated document generation system. By collecting comprehensive and accurate information upfront, we can automatically generate tailored legal documents, contracts, and compliance procedures specific to each Account Holder's jurisdiction and business type. This automation will significantly reduce the time between initial onboarding and production activation, while ensuring all necessary regulatory requirements are met.

What does this mean for you?

To materialize these improvements, we are implementing a phased deployment of enhanced data collection requirements during the Account Holder creation process. This additional information will enable us to better understand and serve our customers while maintaining compliance with regulatory requirements. The expanded data points have been carefully selected to minimize the impact on your integration while maximizing the automation potential of our systems.

Key enhancements to the Account Holder workflow include:

1. Additional required parameters when creating Account Holders to collect more comprehensive business information
2. New transitional states in the Account Holder entity to provide better visibility into the onboarding process
3. Automatic contract generation for eligible companies based on provided business information
4. A streamlined contract signing process integrated with Devengo systems to expedite KYB verification and production activation

These enhancements represent a significant shift from the current largely manual onboarding process. By automating the collection and verification of business information, streamlining document generation, and integrating contract signing directly into the workflow, we expect to dramatically reduce the time and effort required for account activation.

This automated pipeline will eliminate many of the back-and-forth communications currently needed between Technical Partners, their customers, and Devengo, while maintaining our high standards for security and compliance. The result will be a more efficient, predictable, and scalable onboarding experience.

What do I need to do?

You will need to update your integration to include the new required parameters when creating Account Holders. We recommend reviewing the updated API documentation to understand the new requirements and transitional states.

When will be the new changes come into effect?

All these changes will be applied progressively with the first ones connected to the requirement of new parameters going into operation on June 2, 2025.

What if I have any questions?

If you have any questions, or need help integrating the new changes in your systems, please contact us at [email protected].