| Topic | MSB | LB Pay |
|---|---|---|
| Sender KYC | Identifies and verifies the sender and keeps the records. | Applies the compliance level and limits configured for the MSB. |
| Required data | Sends complete and correct data for sender, beneficiary, purpose and relationship. | Validates the data before any funding or FX is committed. |
| AML/CFT and sanctions | Monitors its customers and transactions under US rules. | Screens sender and beneficiary and may place remittances under review. |
| FX contract | Is the contracting party of the FX. | Arranges the FX for each remittance on behalf of the MSB. |
| Funding | Keeps USD in the US (PREFUNDED) or pays settlements by the due date (CREDIT). | Reserves and confirms funding before the Pix. |
| Pix payout | — | Confirms the key holder, sends the Pix, issues the receipt and handles returns. |
| Reconciliation | Reconciles its records with the remittance, settlement and wallet queries and with notifications. | Reconciles every step and confirms the result of any step in PROCESSING before a new attempt. |
| Notifications | Verifies signatures and handles repeats and out-of-order events. | Signs, delivers and retries notifications. |
Operations
Responsibilities
What each party is responsible for.