Overview
Requirements
- Account Setup and Ongoing Management
- Incorporation of money movement APIs (/SFTP transfers where applicable)
- Entity API set up for customer details and business relationships
- Virtual Account Number API setup to issue unique account numbers for each of your users
- Daily file sharing across user balances and transactions for reconciliation purposes
Special Considerations
- Depository accounts are set up with a account owned by Lead. There are a few different ways to configure your accounts. Lead discusses these options with you during the implementation process.
- Lead supports many third-party vendors in the fintech ecosystem across acquiring, issuing, and payment processing.
Flow of Funds
An example diagram illustrating a depository account.
Data Validation Requirements
Required data fields for Depository Accounts with Lead:
| File | Frequency | Notes |
|---|---|---|
| Account | Daily | A “compliance container” that holds multiple financial products on behalf of an entity, includes account identifiers, and account holder information. |
| Entities (via API) | Daily | Use the Entity API in order to send Lead required customer information, with customer relationships of business owners and/or authorized users and signers. |
| Nacha Files (via SFTP) or ACH (via API) | Daily (for files) On Demand (for API) | Lead requires payment files in the form of Nacha files, or you can use the ACH API instead. Lead recommends using money movement APIs for all payment scenarios, as they reduce file transfer overhead and simplify your integration. |
| Transactions | Daily | Required: - Daily Batch - Non-Posted Transactions - Any Transaction updates |
| Balance | Daily | Required: - Daily Batch - Any account updates that affect balances |