Partner Due Diligence Checklist
The specific documents requested from the bank partner will generally depend on the specific bank’s requirements as well as your line of business and use case.
This document is intended to provide a general framework for the types of documents that you should be prepared to produce. This is not an exhaustive list and may vary depending on the bank partner.
BUSINESS INFORMATION
- Overview/summary of use case
- Flow of funds
- Funding information
- Targeted users and geographies
- Pitch deck
- Litigation or regulatory complaints against company or individual leaders
FINANCIALS
- Audited financial statements
- Unaudited financial statements
- Projections or forecasts
INSURANCE
- Copy of liability insurance policy
MARKETING
- Methods of marketing
- Social media domains/handles
- Customer facing documentation
POLICIES & PROCEDURES
GOVERNANCE
- Formation documents like Articles of Incorporation, By-laws, Articles of Organization (LLC)
- Ownership structure and shareholder information
- UBO Information (Proof of identity, address, etc. for all owners owning 25% or more)
- Authorized Signers
- Assumed Name Filing (Fictitious Name Filing)
- IRS letter assigning EIN or W-9
Updated about 2 months ago