Embedded Finance

The functionality is under development and is subject to change. The article is intended to announce the upcoming functionality release and provide a brief overview.

Overview

In common setups, Crassula effectively integrates various service providers into White Label systems, streamlining the delivery of financial services. Our Embedded Finance solution aggregates these services and offers them collectively under Crassula’s management. This allows a White Label to utilize these integrations already connected to the Master White Label system, enabling them to operate their Brand White Labels as distinct financial entities.

Communication Scheme

The project is conceived with the Master White Label acting as the central hub, while the Brand White Labels, representing separate entities, operate under the Master through sublicensing. Thus, Brand White Labels are considered to be child projects of a Master White Label that takes all administrative functionalities, such as compliance monitoring, managing client profiles, and processing transactions. Brand White Labels are provided with a read-only Administrative—all back-end issues and requests are navigated to the Master White Label to be resolved. This flexible concept is also adaptable to other business models.

Brand White Labels are expected to incorporate their own:

• Color schemes for web pages or mobile applications

• Logos

• Footers

• Contact help addresses

• Other branding elements as needed

Connections

The primary configuration of banking providers is managed by the Master White Label, setting the foundation for service delivery to Brand White Labels. On the Brand side, the providers are uniformly presented as “Crassula,” simplifying the user interface. Brands may also connect directly with external providers; however, these connections and the transaction data will remain independent from the Master White Label.

For KYC, KYB, and KYT processes, configurations can be centralized at the Master White Label or handled individually by each Brand. Typically, separate profiles for each Brand are maintained, although integration back to the Master is possible. The decision to centralize these functions involves considerations of operational efficiency and risk, as duplicating systems can lead to data redundancy and increased workload.

Routing and Currencies

Client account routing follows a predetermined logic where currency type dictates the provider choice:

• EUR accounts default to Provider A

• GBP accounts to Provider B

• USD accounts to Provider C

• Multicurrency accounts also use Provider B

This setup ensures that while Brand White Labels may see all accounts as being with Crassula, the back-end differentiation is maintained at the Master White Label level. Note that the multi-currency account options are standardized and not customizable across different brands.

Operational Work and Access

Brand White Labels operate as independent units under the overarching structure of the Master White Label, which has full administrative access, including compliance oversight, client management, and transaction processing. Access levels within Brand White Labels are typically set to read-only, although this can vary depending on the business model employed by the Master White Label.

Despite the existence of the Master WL, the main operational activities are carried out in the
system of each Brand WL separately from the Master White Label. The Brand White Label systems handle all the important administrative tasks, such as keeping track of compliance, managing client info, and
handling transactions.
However, there may be various nuances even in this logic. For example, if one of the Master White Label’s providers is set up as "None" (used for manual operations), the final statuses of such operations must be confirmed in the Master White Label’s system.

Data Interconnection Between Systems

Each entity registered by a Brand White Label is replicated at the Master level to ensure unified management and oversight. Data synchronization covers essential client information and transaction details but does not extend to operational limits, price lists, or legal documents, which are managed separately by each Brand White Label.

Workflow

When an entity appears on the Brand WL, it is duplicated on the Master WL side:

1. Companies are created on the Master WL for each Brand WL (e.g., Brand1, Brand2).

2. API keys are issued for the companies so that further communication between the Master WL and the Brand WL can be configured using these API keys.

3. Clients registering in the Brand WL will appear as clients of the corresponding Brand Company on the Master WL.

Synchronized data

The data replication described above applies to the following entities:

• Clients (persons and/or companies):

  • First name

  • Last name

  • Email

  • Legal address

  • Date of birth

  • Phone

  • Business type

  • Incorporation date

  • Owner

• Client's documents and identification requests

• Accounts

• Transactions

Changes made in other fields will not be reflected in the Master WL automatically.

Non synchronized data

The following entities are configured and managed separately for each of the Brand WLs, there will be no synchronization between systems:

• Limits (on turnover, transactions, amounts, etc)

• Price lists

• Fees

• Legal documents (ToS, Privacy Policy, etc)

• All other additional features configured in the Admin Panel

Current implementation

Currently, Brand White Labels are provided with a limited list of banking functionalities which is subject to change in the upcoming releases. See the following table for details: