Tazapay's KYB statuses come in the following: Initiated, Submitted, Pending, Approved and Rejected.
When you submit a KYB application, it goes through various statuses, each indicating the current state of your application. Here are the updated statuses and what they signify:
1. Initiated/In Draft:
The KYB application has been initiated, meaning you have started the process and can still make changes to the application, including editing and uploading relevant documents.
2. Submitted/Under Review:
The KYB application has been submitted and is under verification by Tazapay.
The application is pending, indicating that additional documents are required, or there are queries that need to be answered. To speed up the process, prompt response and submission of required documents are crucial at this stage.
The KYB application has been successfully verified, meaning all prerequisite document requirements have been fulfilled, and the application has been approved by Tazapay.
The KYB application has been rejected due to non-fulfillment of the prerequisite document requirements. Review the requirements and ensure all are met before resubmission.
For a flow chart visualisation, you may refer to our API documentation on KYB states.