Getting Started

When creating a new program, a defined bank account structure must be represented within the Qenta Embedded Finance Platform.

By default, our platform offers a simple setup, where one account holder corresponds to one balance account, with one associated card (1:1:1). However, based on your specific requirements, we also offer enhanced setups allowing for multiple account holders, balance accounts, and cards (n:n:n).

Should you require a custom setup, our team will collaborate with yours to determine the necessary steps for reserving and settling funds.

The outcome will be the establishment of account mapping and the seamless flow of funds, ensuring a streamlined and efficient process aligned with your program’s objectives. Should you have any questions or require further clarification, please don’t hesitate to reach out to us. We’re here to facilitate a smooth implementation process for you.

Once the account structure is established, we can proceed to define the type of card to be issued.

Card types are influenced by key program features such as deciding if physical or virtual cards will be issued, the country of issuance, and deciding on the individual card functions.

Physical cards are tangible products produced and shipped to the cardholder. They can be used for various purposes including e-commerce transactions, payment terminals, card present, point-of-sale transactions, and ATM withdrawals.

Virtual cards, on the other hand, are digital products without a physical form. They are displayed within your application to the cardholder and are primarily utilized for e-commerce, card-not-present transactions. Additionally, we offer the flexibility to convert virtual cards into physical cards if required by your program.

For further details, please refer to the Card Management section.

Your designated Qenta contact will assist you in determining the visual design and parameters of the card. Working closely with our key partners such as Mastercard, Visa, and our partner banking network, we ensure that your card design and associated marketing materials adhere to essential regulatory and marketing requirements. We’re here to support you throughout this process, ensuring a seamless and compliant card issuance experience.

Navigating the EU approval process for embedded finance can appear daunting, but with Qenta as your trusted partner, we’re dedicated to simplifying the journey. Here’s a comprehensive overview of the support we provide:

New Client Questionnaire and Consultation: to kick off the process, our implementation team will provide you with a comprehensive new client questionnaire. Our team will guide you through the completion process, ensuring all necessary information is provided.

Once the questionnaire has been finalized, a consultation session can be scheduled. During this discussion, we’ll review key aspects such as fund flows, legal entity structures, and BIN requirements. Our objective is to gain a thorough understanding of your business needs and requirements. Together, we’ll work towards aligning these with the requirements for approval from our BIN sponsor, TPL.

Partner Initiation: Once all the required details are discussed and received, our team will initiate the project with our BIN sponsor and processing partner. This collaborative effort is necessary for setting the stage for a smooth implementation process.

We’ll work together on technical setup tasks, including configuring the KYC/KYB flow, transaction rule suite, assigning BINs, and establishing transaction limits. These steps are important to ensure seamless integration and operational readiness. Throughout this process, our team will maintain clear communication and provide support to address any technical queries or challenges that may arise.

Marketing and Legal Review: As we progress, ensuring that your marketing and legal materials comply with regulatory standards is essential. Our team will conduct a thorough review of these materials in collaboration with you.

Together, we’ll assess your marketing collateral, website content, and legal documentation to ensure they meet industry regulations. Additionally, we’ll work closely on card design to ensure it aligns with your brand identity and regulatory requirements.

With Qenta’s embedded finance team, you receive tailored expertise and support at every stage of the EU approval process. From initial consultations to contract signing and compliance requirements, we’re dedicated to your success in the world of embedded finance.

We’re dedicated to making the approval process for our programs as smooth as possible. The approval process involves submitting detailed Commercial and Consumer program applications. Each application encompasses every feature the program will offer and our Qenta implementation team will work with you to complete these applications. Here’s what you need to know:

Program Application: Our embedded finance team will guide you through the process of submitting detailed applications for both Commercial and Consumer programs. No matter the complexity, we’re here to assist you every step of the way. Expect a 30-day approval timeline from our partner bank, during which our team will work diligently to ensure your application is processed efficiently.

Bank Approval: Once your program application is submitted, our team will ensure that it meets all requirements before proceeding to the next step. This involves obtaining approval from Patriot Bank, which requires the completion of three essential forms: Patriot Bank application, KYC/KYB assessment, and the collateral checklist. Rest assured, our experts will provide full support throughout this process, ensuring everything is handled smoothly and efficiently.

Cobrand Collateral: As part of the approval process, a collateral package must be prepared for review and approval. Our team will guide you through preparing the essential items such as card art, card mailer, FAQ, cardholder terms, privacy policy, e-sign disclosure, and any additional program-specific items. We’ll ensure that your collateral package meets all necessary criteria and is ready for submission to Patriot Bank.

With our dedicated support and guidance, you can be confident that the approval process will be efficient and seamless. Our embedded finance team is committed to helping you every step of the way, ensuring that your program is approved and ready for launch in no time.