SME Seller
The small United Kingdom (UK) business with an unpaid invoice. Browser-led with email confirmations at every state change. The strictest gate set on the platform — most invoice fraud starts with a fake seller.
Flow map
Onboarding (O1–O5) runs once. Per-invoice (S1–S7) repeats for every receivable.
| Step | What the seller sees | Channel | State event |
|---|---|---|---|
| O1 | Sign up, choose role | Browser | SUBJECT_CREATED |
| O2 | Onboarding form (Know Your Business (KYB), Ultimate Beneficial Owner (UBO), banking, source of funds) | Browser | ONBOARDING_SUBMITTED |
| O3 | Identity verification (Sumsub doc + selfie) | Browser → email confirm | KYC_PASSED / KYC_FAILED |
| O4 | Risk & Anti-Money Laundering (AML) pass + MLRO review | Email + in-app status | RISK_PASSED / MLRO_APPROVED |
| O5 | Welcome — ready to invoice | Email + dashboard | SUBJECT_ACTIVE |
| S1 | Submit invoice (PDF + structured fields) | Browser | INVOICE_SUBMITTED |
| S2 | Authenticity check (vision Optical Character Recognition (OCR) + duplicate scan) | Auto, in-app status | INVOICE_VERIFIED |
| S3 | Buyer confirmation pending | Browser banner + email when buyer confirms | BUYER_CONFIRMED |
| S4 | Tokenised + listed to lenders | INVOICE_TOKENISED → LISTED | |
| S5 | Lender funds the invoice | Email + dashboard | INVOICE_FUNDED |
| S6 | Cash lands in seller's bank | Email + bank notification | ADVANCE_DISBURSED |
| S7 | Buyer pays on the due date · settled | Email + dashboard | INVOICE_SETTLED |
Onboarding · O1–O5
First-time only. Roughly 24–48 hours from O1 to O5 if no escalation; up to 5 business days if Gate 3 sends the file to the MLRO queue.
/select-role.Welcome to FinToken X
Pick the role that best describes you. You can have only one role per login.
Sell an invoice Selected
I run a UK business and want to get paid early on an invoice my customer owes me.
Confirm an invoice from a supplier
One of my suppliers is using FinToken X and asked me to confirm an invoice.
Fund invoices (lender)
I am a Financial Conduct Authority (FCA)-authorised firm or institutional lender.
Trade invoice tokens (investor)
I am a professional investor or eligible counterparty.
/compliance/onboarding/seller. KYB on the company, UBOs over 25%, banking details for net advance, source of funds, terms acceptance.Tell us about Coppergate Joinery Ltd
Step 2 of 5 — Beneficial ownership
Companies House lookup
Beneficial owners (over 25%)
Validation: CH lookup must return
company_status='active'; UBO holdings must sum to ≥ 75% disclosed; bank account name must Confirm-of-Payee match the company name.
State: on submit,
onboarding.state = 'SUBMITTED' and the file enters Gate 1.
Verify your identity
We use Sumsub to verify the Director on file (Aisha Mahmood) before activating your account.
Sumsub verification · iframe
Take a clear photo of your passport or UK driving licence, then a short selfie video.
What happens next
If everything checks out you'll see a green tick within minutes. Tougher cases are reviewed by a person and can take up to two business days.
/webhooks/providers/sumsub. On GREEN the subject moves to KYC_PASSED and Gate 2 fires immediately. On YELLOW the file goes to MLRO queue with provenance attached. On RED the subject is hard-blocked; the email reads "we could not approve your application" with no further detail (Proceeds of Crime Act 2002 (POCA) tipping-off prohibition).
KYC_PASSED. Sets expectations for Gate 2 + Gate 3 turnaround.Identity verified ✓
Hi Aisha,
Your ID checks out. We're now running the rest of our checks on Coppergate Joinery — sanctions screening, source of funds, and a quick risk review.
This usually finishes within 24 hours. We'll email you again the moment your account is ready to use.
Thanks for your patience,
The FinToken X team
Application in review
FX-APP-77241 · Submitted 22 May 2026, 10:48
What's happening now
Your file is with our compliance team for a routine review. We do this for every seller — it usually takes a few hours, sometimes up to two business days. We'll email you the moment it's done.
SCREENING_PASSED → MLRO_REVIEW → MLRO_APPROVED → RISK_PASSED.
Out of scope on this page: the MLRO sees the case in
/compliance/mlro-queue — see compliance flow for that side.
RISK_PASSED. The CTA opens the invoice submission form. Dashboard now shows full nav.Coppergate is live ✓
Hi Aisha,
You're approved. You can now submit invoices and get paid early on customers who confirm them.
Here's how it works:
- Upload an invoice (PDF) and the customer's email.
- We email your customer for a one-click confirmation — they don't have to sign anything.
- Once they confirm, a regulated lender funds the invoice and the cash lands in your bank, usually the next working day.
If you've got questions, reply to this email and we'll get back to you within one business day.
Per-invoice · S1–S7
Repeats for every receivable. Happy path, with reference invoice FX-INV-23A4F (£10,000 to Northwind Retail plc, 60-day tenor, issued 22 May 2026, due 21 Jul 2026).
Submit a new invoice
Drop the PDF — we'll fill the rest in.
Estimated cash to you
/invoices/new wrapped in ComplianceGateGuard action="SUBMIT_INVOICE". Validation: face value > £500 and ≤ £250,000 (sandbox cap), tenor ≥ 7 and ≤ 120 days, buyer email domain not on the personal-email blocklist (gmail/outlook/yahoo are rejected — we only finance corporate buyers), face value < 25% of seller's 12-month declared turnover (concentration self-protection).
OCR: the PDF is shipped to a vision pass that extracts buyer name, line items, totals. We use OCR to cross-check the structured fields, never to replace them — if OCR disagrees with what Aisha typed, we flag the difference for her to reconcile before submit.
FX-INV-23A4F · verifying
Northwind Retail plc · £10,000.00 · Due 21 Jul 2026
Verified — sending to your customer now
Northwind Retail will receive a confirmation email. Most customers confirm within a working day.
INVOICE_REJECTED with a plain-language reason for the seller. Duplicate detection is exact-match on (issuer subject, buyer subject, face value, due date) and fuzzy-match on the PDF hash and content fingerprint — we catch the case where someone re-exports the same invoice with a tiny edit.
FX-INV-23A4F
Northwind Retail plc · £10,000.00 · Due 21 Jul 2026
We've emailed Northwind Retail
Tom Whitfield (AP at Northwind) will get a one-click email asking him to confirm this invoice. Once he clicks, we'll match it with a lender straight away.
Email sent · Reminders scheduled at 24h and 48h
What confirmation means for your customer
Your customer is just confirming the invoice is real and they will pay it on the due date. They are not signing a finance agreement and they don't take on any new liability. They keep the same payment date — only the bank account changes.
INVOICE_EXPIRED and the seller is offered to resubmit (with a new reference); if the buyer rejects, the file moves to DISPUTED and is routed to compliance for review (a rejected invoice can be a sign of fraud — see compliance flow).
Confirmed ✓ — finding you a lender
Hi Aisha,
Northwind Retail just confirmed invoice FX-INV-23A4F for £10,000.00. We're matching it with a regulated lender now — most invoices get funded within a few hours.
View invoiceWe'll email you again the moment a lender funds it.
tokenId, no chain reference. The lender and admin sides do see those — see lender flow and backend § tokenisation. State on token mint: the receivable record gains a token_ref field equal to FXR-INV-23A4F and a chain-backed contract_address + token_id stored in the audit-only column.
Funded ✓
Hi Aisha,
A regulated lender has funded invoice FX-INV-23A4F. £9,660.00 is on the way to your bank account ending •••• 4271 — usually arrives the same working day, never later than the next.
Northwind Retail will pay £10,000.00 to us on the due date — you don't need to chase them.
See full breakdownDisbursement mechanics: the lender disburses to a FinToken X bankable virtual account; FinToken X immediately routes net-of-fee to the seller's confirmed bank account. We never custody the seller's bank account; we hold a sub-second transit position.
£9,660.00 sent ✓
Hi Aisha,
£9,660.00 has just left FinToken X for your account ending •••• 4271. Faster Payments usually lands within minutes; if your bank is slow it can take up to two hours.
You're done with this invoice. We'll handle the rest. We'll email you when Northwind Retail has paid us back on 21 July — there's nothing for you to do until then.
/admin/incidents — the seller has the cash either way; this is internal hygiene.
All settled ✓
Hi Aisha,
Northwind Retail paid £10,000.00 today. Invoice FX-INV-23A4F is now fully settled. The lender's share has been paid out and your file is closed.
Got another invoice you'd like to fund? Submit another →
FX-INV-23A4F within tolerance → reconcile → trigger lender payout via Faster Payments → on lender payout confirmation, mint a BURN transaction on the Ethereum Request for Comments 3643 (ERC-3643) token → write final audit entry. Buyer-side email saying "we paid" is never sufficient on its own; the bank credit is the source of truth.
Ongoing — what the seller sees between invoices
Most sellers will submit 2–10 invoices a month. The dashboard is designed to make this routine.
Coppergate Joinery Ltd
Welcome back, Aisha. Here's where you are this month.
Recent invoices
Where it can go wrong
Branches off the happy path. Each one has a state, a user-facing message, and an internal escalation path.
| Branch | What the seller sees | State | Escalation |
|---|---|---|---|
| Buyer rejects the invoice | Plain message: "Northwind Retail did not confirm this invoice. We've put it on hold while we check what's going on." No money has been transferred. | DISPUTED | Routed to compliance — buyer-rejection is a fraud signal in this market. |
| Buyer doesn't reply within 5 Business Days (BD) | Auto-expires; seller offered to resubmit with the customer's correct AP email. | EXPIRED | None unless 3 expiries on the same buyer email — then routed to compliance. |
| Duplicate invoice detected | "This looks like an invoice already on the platform. We can't fund it twice." | REJECTED_DUPLICATE | Routed to compliance with both records linked. |
| Vision check fails (no stamp, lines don't reconcile) | Specific repair instruction: "We can't read the totals on your PDF. Please re-upload a clean version." | REJECTED_VISION | None unless 3 failures in 30d — then routed to compliance. |
| Sanctions delta hits the seller (Gate 4) | Seller can keep submitting until the alert is resolved — but new invoices are paused at S2. | SUBJECT_FROZEN | Auto-routed to MLRO queue with FCA Suspicious Activity Report (SAR) clock started if criteria met. |
| Buyer pays late (S7 + 5 BD) | Seller gets a courtesy "we're chasing" email; no action required of seller. | PAST_DUE | FinToken X collections kicks in. After 30 BD past due, the receivable enters DEFAULT — handled in lender flow. |
| Buyer disputes after confirming | "Northwind Retail has flagged a problem with this invoice. Our team is in touch with both sides — we'll come back to you within 2 working days." | POST_CONFIRMATION_DISPUTE | Routed to compliance with both confirmation evidence and the dispute payload. |
/signup→/select-role. Choosing "seller" setssubject.role = 'sme_seller'and routes the next click to the seller onboarding form. Role is immutable after onboarding submission — to switch, the user creates a new account.