User Onboarding Process for the AUDD Gateway

As the AUDD Gateway continues to simplify the path for businesses and individuals aiming to navigate the Australian market, understanding the onboarding process is crucial for new users. The onboarding process is designed to ensure compliance with regulatory requirements while providing a seamless entry into using the platform. This article outlines the user onboarding requirements for the AUDD Gateway, mirroring the processes established for the AUDD Digital platform.

The AUDD Gateway upholds the same stringent onboarding requirements as the AUDD Digital platform. These procedures are in place to ensure compliance with KYC (Know Your Customer), AML (Anti-Money Laundering), and CTF (Counter-Terrorism Financing) regulations, safeguarding the platform and its users against illicit activities. For a more detailed exploration of these requirements, users are encouraged to consult the AUDD Digital Knowledge Base available here.

As of now, the AUDD Gateway supports onboarding for individual users only, with plans to include business users in a subsequent release. This phased approach allows for meticulous attention to the unique needs and compliance requirements of different user categories.

The initial stage of the onboarding process involves submitting basic KYC data, also known as Tier 2 verification. This stage requires new users to provide:

• Full name
• Address
• Date of birth
• ID number
• Mobile number
• Email address

This information can typically be verified within minutes, offering users quick access to the platform’s features.

For users seeking higher transaction limits, additional documentation must be submitted, including proof of identity, address, and income. While the review of these documents may take up to 24 hours or one business day, it's important to note that this process does not impede the ability to make payments. However, the clearance of transactions involving larger amounts may be affected until full verification is achieved.

The user onboarding process for the AUDD Gateway is structured to balance the necessity of regulatory compliance with the convenience of quick access to the platform. By implementing a tiered approach to verification, the AUDD Gateway ensures that users can begin transacting in a timely manner while providing pathways to increased functionality and higher transaction limits as needed.

The AUDD Gateway's user onboarding process reflects a commitment to security, compliance, and user convenience. As the platform evolves, including the anticipated inclusion of business users, the onboarding process will continue to serve as the foundation for a secure and compliant user experience. New and prospective users are encouraged to familiarise themselves with the onboarding requirements and to utilise the resources available in the AUDD Digital Knowledge Base to navigate the verification process smoothly and efficiently.