To confirm your company’s operation, Verto requires an official document confirming your business operation. We review these documents to ensure alignment with your business activities.
1. The Global Baseline (Standard Businesses)
Most established companies can easily verify their operational history by submitting our requested Primary Evidence:
Corporate Bank Statements: You must provide a digital copy of your business statement from the last 3 months, uploaded in original PDF format . This document must show a minimum of 10 inbound client transactions directly tied to your business activities and clearly display your company’s operating address .
Audited Corporate Financials: Your most recent audited corporate financial statements, such as an official profit and loss statement or balance sheet signed off by a qualified accountant, are fully accepted .
The following are accepted as supporting documents:
Official company tax returns or corporate tax filings .
Signed corporate service agreements or active commercial contracts with your clients.
Active commercial, municipal, or trading licenses.
Two recent corporate invoices issued directly to your business by your active suppliers.
2. Industry-Specific Requirements List
Import/Export Business, Courier Services, and Freight Forwarders: Supplier Invoices, official government-issued Customs Declarations, or active Shipping Records .
E-commerce and Agriculture: Supplier Invoices.
Other Financial Services, Healthcare, Pharmaceuticals, and Oil & Gas Distribution: Valid, unexpired Regulatory Operating License or an official sector-specific government permit .
Retail, Wholesale, Manufacturing, Construction, Real Estate, Automotive Parts, Machinery, and Food Trade: You may submit your recent corporate bank statements, active client contracts, or standard supplier invoices .
3. Special Licensing Rules for Financial Institutions (FIs)
If your company operates as a Financial Institution (such as a bank, electronic money institution, remittance platform, or payment fintech), you must supply specialized licensing credentials at the onboarding stage :
Mandatory Compliance Package: FIs must always provide their valid Regulatory License (or equivalent proof of registration), an active copy of their internal AML/CFT Policy, and clear corporate Source of Funds .
United States FIs: Registration with FinCEN as a Money Services Business (MSB) and valid state-issued Money Transmitter Licenses (MTLs) for each state in which you operate .
Canada FIs: An active registration as an MSB with FINTRAC alongside a Payment Service Provider (PSP) registration issued by the Bank of Canada.
West & Central Africa FIs (XOF / XAF Zones): Provide both the technical authorization letter (L'avis conforme) from your regional banking commission (BCEAO or COBAC) AND the signed sovereign operating decree (L'Arrêté d'Agrément) from your national host country's Ministry of Finance . Independent remitters may supply a standalone Payment Institution license under the recent 2024 BCEAO framework .