Create User Flow

What

User onboarding is the culmination of your marketing campaign and the beginning of your relationship with the user. It's important to provide a smooth onboarding experience in order to maximize your conversion rate.

Why

• Long onboarding times drastically increase abandonment

• Users are more likely to provide additional KYC information in order to activate their account rather than create their account

• Consumers are very sensitive to KYC friction

• Business users are familiar and tolerant of KYB friction

How

Consumer Onboarding

1. Display the TOS and Privacy Agreements

   1. Required Language: "Synapse is our backend software provider, and partners with financial institutions to provide FDIC insurance. Synapse’s API, and their relationship with financial institutions, enables us to offer banking services and products. By agreeing to <insert platform name>’s TOS and Privacy Policy, you also agree to Synapse’s terms and policies below: Links"

2. Collect basic user information

   1. Phone

   2. Email

   3. Address

   4. Name

3. Create the user in Synapse

4. Collect the minimum documentation required from users. This is described in your Spec Sheet

   1. US Residents: SSN

   2. International Users: Physical Documents

5. Display a W-9 Certification (required for consumer programs for US residents)

6. Authenticate as the User

7. Update User with KYC Documents

8. Add Nodes

9. Add Subnets

10. Add Additional KYC Documents as Necessary

Business Onboarding

1. Display the TOS and Privacy Agreements

   1. Required Language: "Synapse is our backend software provider, and partners with financial institutions to provide FDIC insurance. Synapse’s API, and their relationship with financial institutions, enables us to offer banking services and products. By agreeing to <insert platform name>’s TOS and Privacy Policy, you also agree to Synapse’s terms and policies below: Links"

2. Collect Login and Base Business Details

   1. Name

   2. Email

   3. Phone

   4. Incorporation Date

   5. Address

3. Create User:

4. Authenticate as User

5. Create Nodes

6. Create Subnets

7. Collect Business Documents

   1. Incorporation Documents

   2. Relevant Licenses

   3. Owners/UBOs/Executives (Same as Consumer Documents)

8. Update User with Business Documents

9. Collect Executives & UBO Information

   1. Default:

      1. Phone

      2. Role

      3. Ownership Percentage

      4. Email

      5. Address

      6. Name

   2. US Users:

      1. SSN

   3. International Users:

      1. Physical Documents

      2. Video Authorization

10. Add UBO Base Docs to the User

11. Create Reg GG form

12. Add Additional Documents as Necessary

Notes:

• Onboarding as a business user is a time commitment. In order to minimize dropoff during the onboarding process, we recommend giving users access to the application before they have finished supplying all of the required KYC & KYB.

• Users must be aware that their account is not active and that they must be verified before they can start transacting.

• Business Onboarding can take time in order to verify all of the required information