What are VASP Lists?
VASP Lists enable you to have a record of VASPs that you have completed due diligence on by adding to the Trusted, Blocked or Monitored list. These lists can also be used in the Notabene Rules Engine to automatically approve or reject/cancel transfers.
You are able to define what each list is used for based on your compliance policy but you can find the common definitions below:
The "Trusted list" may contain VASPs you decided are low risk and trust to send/receive transfers.
In contrast, the "Blocked list" may contain VASPs you decided are high risk and do not trust to send/receive transfers.
The "Monitored list" may consist of VASPs you want to continuously keep an eye on and review transfers on a case-by-case basis.
How does it work?
Review the data displayed on the VASP profile in the Network.
Request access to their Due Diligence Questionnaire.
Click on "Review VASP" to add them to either the Trusted, Blocked or Monitored list. Save your choice by clicking on "Mark Due Diligence as Complete"
Set up Rules based on VASP List in the Rules Engine
You can also filter within the VASP network to see which VASPs you have not yet reviewed
Tip: We recommend you start by reviewing your Top 20 VASPs list as these are your most important counterparties.
Approve VASP for withdrawals
Additionally, we provide a filter to determine which VASPs are displayed to your end users in our Embedded Components (widget). By default, the VASP list displays our entire network. However, if you’d like more control over it, this feature allows you to manage each VASP one by one.
Should you have any questions, do not hesitate to contact us at support@notabene.id.