To open an Enterprise account, follow these steps:
Download the ORO Bank app from the App Store or Play Store; or
Visit our webapp: https://app.oro.bankComplete KYB (Know Your Business) verification process.
Enable 2-factor authentication for added security.
Open your Full Reserve Account.
What is the KYB process look like?
Step 1: Select account type
After signing up, click on 'Verify Identity' and select 'Enterprise account'.
Step 2: Provide your consent
Step 3: Fill in the Company Data form
Upload documents confirming the company's legal existence and identifying the company's beneficial owners. The number of documents that can be uploaded is unlimited. The more documents one uploads, the more likely it is that the company will be approved.
UBOs (Ultimate Beneficial Owner) is person who hold 25% or more of your company.
Note: Once you check the UBOs box, it cannot be unchecked. Only select this option if your company's UBOs cannot be identified.
Step 4: Provide data about the UBOs
This step may be skipped via checking the box on the Company Data screen above.
Provide information about the UBOs:
Specify the UBO’s position and fill in all the required fields: First name, Middle name, Last name, Email, Date of birth, and Contact number.
Pass identity verification for the UBOs.
There are 2 options to verify
You (person who conducts the KYB) can verify on behalf of the UBO: Click 'Start verification now'
Alternatively, the UBOs will verify themselves via email you provide above: Click 'Send link via email' or 'Copy link'
Click Add participant.
Change the provided data or add UBOs if needed.
Click Next. You will be redirected to the Shareholders screen.
Step 5: Provide data about Shareholders
The Shareholders screen includes forms Individual and Company. The Individual form is similar to that of the UBO’s form. You can provide data and pass/share the check in the same way. If you need to fill in the Company form, follow the steps below.
Provide information about the company: enter all the required data — such as the Company name, Registration number, Country, Percentage of ownership, and Company email.
Pass identity verification for the Shareholders. You have two options: click Start verification flow and a window with the check will open in a new tab. Alternatively, you may Send a verification link via email or Copy the link.
Click Add participant.
Change the provided data or add Shareholders if needed.
Step 6: Check the provided data
Please make sure that everything is correct. Edit information if needed and click Submit.
Step 7: Wait for the review
You will receive an email when the process is complete. Alternatively, check for progress on the website or app.
An applicant may be resubmitted for a few main reasons:
Incorrect information has been entered. Edit the company data.
Some beneficiaries are not specified. Add all the required members of the company.
Documents don't meet the requirements or weren't uploaded. Upload documents according to the requirements.
