What is Connect Onboarding?
Connect Onboarding is Stripe’s identification verification form that collects the information required on the Account Representative, Owner, Director, and Executives of the campaign (requirements vary country to country).
You are required to fill it out and have your identity verified successfully through the Connect Onboarding process in order to launch your campaign.
If your campaign was live prior to March 31, 2020, you are required to fill out the Connect Onboarding form and have your identity successfully verified through the Connect Onboarding process in order to continue raising funds or receive disbursements.
What is considered a Representative, Owner, Director, or Executive?
- Owner: They have over 25% ownership in the organization or company that is running the campaign.
- Director: They are part of the governing board of the organization or company that is running the campaign.
- Executive: They exercise significant management control over the organization or company that is running the campaign.
- Beneficial owners: This refers to an Owner or Executive.
When is this happening?
Starting March 31st, 2020, all identity requirements will need to be filled out and successfully verified through Connect Onboarding before a new campaign can launch on Indiegogo. This is due to updates to KYC (Know Your Customer) and CDD (Customer Due Diligence) laws. Existing campaigns must have all of the identity information on Connect Onboarding filled out and successfully verified by March 31st, 2020 or campaigns will be unable to receive further contributions or disbursements until they are verified.
Why is this important?
“Know Your Customer” (KYC) obligations require Stripe (our payment processor) to collect and maintain information on all Stripe account holders. These requirements come from banking regulators and are intended to prevent abuse of the financial system. The information Stripe is required to collect differs from country to country, and typically includes (but is not limited to):
- The individual creating the Stripe account
- The business associated with the Stripe account
- Any individuals who ultimately own or control that business
How do I get to the Connect Onboarding form?
Campaigners will be directed to Connect Onboarding through our Campaign Editor > Funding tab. The current Secured Bank Form will be replaced with a link to the Connect Onboarding form.
When a campaigner gets to the Funding tab, they will see a section titled “Funds Recipient Verification” and should click on the button labeled “Verify Your ID”. This will securely link them to Stripe’s Connect Onboarding site.
If you are having difficulty with Stripe Connect, please read our Troubleshooting Stripe Connect article for assistance.