Customer
When we talk about a Customer in Nexus, we always refer to your own customers, the users of the platform you are developing by leveraging our platform. Therefore your customers.
A customer can have multiple accounts and bank accounts linked to it.
Statuses
The image above illustrates the standard customer status change flows. While the Nexus Portal and API support these status changes, they do not include the underlying compliance processes (see note below). Partners must implement these processes based on their specific needs and regulatory requirements, as they fall outside the scope of Nexus API or Portal functionality. Customers are typically created with either NEW or ACTIVE status.
Note
- CDD: Customer Due Diligence refers to the process by which financial institutions, banks, and other regulated entities assess and verify the identity of their clients and evaluate the potential risks of illegal activities, such as money laundering or fraud, associated with them.
- ECCD: Enhanced Customer Due Diligence (ECDD) is a more thorough and detailed process applied to customers who pose a higher risk of engaging in illicit activities, such as money laundering, terrorist financing, or corruption.
- SAR: A Suspicious Activity Report is a formal report submitted by financial institutions to regulatory authorities when there is a suspicion that a customer may be involved in illegal activities, such as money laundering, fraud, or other financial crimes.
In Nexus, a customer can have the following statuses:
NEW
A customer with a status of NEW is in the process of Customer Due Diligence. This customer already exists in Nexus but requires additional verification. The only actions available for a customer with a status of NEW is to progress to a different status.
ACTIVE
A customer with a status of ACTIVE can access on-chain functionality within their Trust Level limits.
UNDERREVIEW
A customer with a status of UNDERREVIEW indicates that a compliance decision is required. Depending on the outcome of the decision, the customer status should be changed to ACTIVE or BLOCKED. An UNDERREVIEW status is considered a temporary status, pending the outcome of the compliance decision.
BLOCKED
When a Customer Due Diligence (review) results in an unacceptable risk, the customer shall be BLOCKED. A BLOCKED status is considered an end status showing the customer relation was unvoluntary terminated.
DELETED
A customer with a status of NEW or ACTIVE can be DELETED if all their accounts are empty and deleted. A DELETED status is considered an end status showing the customer relation was ended voluntary.
Actions
The table below lists the available actions for a customer dependent on their current status.
| Action | NEW | ACTIVE | UNDERREVIEW | BLOCKED | DELETED |
|---|---|---|---|---|---|
| Create new account | ✔️ | ✔️ | |||
| Delete existing account | ✔️ | ✔️ | ✔️ | ✔️ | |
| Edit customer | ✔️ | ✔️ | ✔️ | ||
| Opt-in an account to a token on the blockchain and in Nexus | ✔️ | ||||
| Opt-out an account to a token on the blockchain and in Nexus | ✔️ | ||||
| Register a token on an account in Nexus which is already opted-in to that token outside of Nexus | ✔️ | ✔️ | |||
| Token operation: funding | ✔️ | ||||
| Token operation: payment | ✔️ | ||||
| Token operation: payout | ✔️ | ||||
| Token operation: clawback | ✔️ | ✔️ | ✔️ | ✔️ | |
| Freeze an account on the blockchain | ✔️ | ✔️ | ✔️ | ✔️ | |
| Unfreeze an account on the blockchain | ✔️ | ✔️ |
Portfolios
Portfolios is a way to group customers for better organization and filtering within the Nexus platform. This functionality allows clients to segment customers based on specific needs, such as service levels, regions, or business models, and to efficiently manage compliance checks, transaction limits, and other specific rules tailored to each portfolio.
Customers can only be assigned to an existing portfolio at customer creation stage and the customer's portfolio cannot be changed at a later stage. Assigning a customer a portfolio is optional and it's allowed to assign one customer to a portfolio and another customer to no portfolio.
Portfolios can be created and retrieved via our portfolio specific APIs, but can be managed in more detail through the portal by a user (user permission permitting) given your "Portfolios" feature is enabled. Enabling the feature will add an additional tab in your portal side menu called Portfolios.
Comments
Comments on customers can be created, updated and viewed on a separate tab when viewing that customer in the portal. They can also be retrieved through our comment specific APIs. History of comment updates through the portal will be stored and can also be viewed and retrieved.
Optionally, a comment can have an "operation code" property, in order to also be able to be linked to a customer's specific operation.