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Institution onboarding is the process of enabling a new commercial bank connection through a delegated user. There are two phases:
  1. Initial onboarding (today)
  2. Scaled onboarding (as coverage expands)

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How We Onboard a New Bank Today

When a new institution is requested:

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1. Delegated User Creation

We guide the business through creating a dedicated Waycore user inside their bank portal. This:
  • Is a standard user within the bank’s permission system
  • Is scoped explicitly (read, initiate transfers, approvals)
  • Requires no technical expertise
We provide bank-specific, step-by-step instructions tailored to that institution’s user management interface. Typical time to create the user: under 30’

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2. Connection Configuration

Once the delegated user exists:
  • We configure the institution on our side
  • Validate login flows
  • Confirm permission scope
  • Test balance retrieval
  • Validate transfer initiation capability
Connection health is verified before marking the institution as active.

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3. Authentication Handling

Banks fall into three categories: Software-based MFA (TOTP, SMS, app prompts)
Handled automatically by Waycore. Hardware tokens (RSA, physical devices)
Handled via controlled human-in-the-loop execution. Non-standard flows
Mapped and stabilized before activation.
For hardware-based 2FA, our operations team completes authentication through an audited, permission-bound process.

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4. Time to Live

From delegated user creation to active connection: Typically live within hours.

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How Onboarding Scales

Institution onboarding becomes progressively lighter as coverage grows.

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Reusable Bank Maps

For each bank we support, we maintain:
  • Portal flow maps
  • Permission schema mapping
  • MFA behavior patterns
  • Known failure states
Adding the second customer at the same bank is significantly faster than the first. All it takes is enabling the delegated user on the customer’s side.

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Guided Self-Serve (In Progress)

We are building guided onboarding flows that:
  • Walk users step-by-step through delegated user creation
  • Provide screen-level instructions specific to each bank
  • Validate permissions in real time
  • Detect misconfiguration automatically
Software-based 2FA is handled automatically. Human intervention is reserved for genuine edge cases:
  • RSA tokens
  • Institutions with irregular authentication
  • Unexpected portal changes

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Constraints

Institution onboarding depends on:
  • The bank’s delegated user model
  • Portal stability
  • MFA requirements
  • Permission clarity
Waycore does not bypass bank-native controls.