Process Guide for the Reliance Model with TruBit
The Reliance model by TruBit is designed for regulated partners seeking to leverage our infrastructure to optimize their operations. Below is a step-by-step guide for establishing a successful collaboration:
1. Identify the Jurisdiction of the Reliance Partner
The first step is to determine the jurisdiction in which the Reliance partner operates. This includes identifying the applicable laws and regulations to ensure compliance with required legal standards.
2. Partner License (Optional)
While not mandatory, sharing details about the licenses held by the Reliance partner is recommended. This information helps us better understand the regulatory framework under which the partner operates and facilitates the evaluation process.
3. Understand the Sector and Nature of Business
To fully comprehend the partner’s operations, we request:
Operational Flow: A diagram or description outlining how the partner’s operations will interact with TruBit.
Brief Business Description or Website: A concise overview of the partner’s activities or a link to their official website to gain insights into their nature and objectives.
4. Request for Key Policies
Aligning our practices with those of the Reliance partner is essential. Therefore, we require as minimum the following policies:
Anti-Money Laundering (AML) Policy Provide an updated copy of your AML policy to ensure alignment with international standards.
Risk Management (AML) Share a document outlining how the partner handles compliance-related risks and transactional oversight.
Fraud Prevention Submit a document detailing measures implemented to identify, mitigate, and prevent fraudulent activities.
5. Align KYC/KYB and Shared Documentation
To ensure seamless and secure collaboration, we require the sharing of key data and minimum documents. A data-sharing agreement may be appended to facilitate:
KYB (Know your business):
KYC (Mexico)：
Conclusion
The Reliance model enables regulated partners to effectively integrate their business operations with TruBit while adhering to regulatory and operational standards. The approval process for a Reliance program typically takes 3–4 weeks once all required documentation and details are submitted.
By completing this process, we ensure efficient collaboration aligned with our goal of providing borderless financial solutions.
If you have any questions or require further assistance, feel free to contact us. We’re here to help you grow!