While we understand that investors may want to have a better understanding of our platform and/or borrowers before depositing, available loans will only be made accessible for browsing once your account has been activated.
As a Capital Market Services (CMS) License holder, we are required to qualify all investors before giving access to the listings on offer for investors to invest. The Generic Questionnaire and Suitability Assessment you have to complete are regulatory requirements by the Monetary Authority of Singapore (MAS) under the CMS Licensing. Similarly, acknowledging the Risk Disclosure at the end of the Subscription Agreement is also part of the requirements by MAS.
In addition, providing information of your employment and/or business and/or other sources of wealth is in our efforts to Countering the Finance of Terrorism and Anti-Money Laundering. Likewise, making a first deposit (of minimum SGD $500) into your registered account is for us to verify that the funds belong to you. There is no minimum requirement for subsequent fund transfers.
Finally, submitting your identity documentation is part of our Know-Your-Customer (KYC) compliance process, which is to verify the identity of our investors with various organisations such as the Immigration & Checkpoints Authority of Singapore.
While we try to make the on-boarding process as hassle-free as possible for you to complete and activate your account, do reach out to us if there are ways we can further improve the on-boarding process.