Changes to Update Account Holder Endpoint

At a Glance

• Release date: February 26th, 2025 (production).
• Impact: New format available to update additional information on the account holder than previously available.
• Audience: All customers managing account holder information on Lithic.
• Action required: The existing Update Account Holder Endpoint format will continue to function as it does today, however to update the additional fields now available customers will need to code to the updated format.
• Products affected: Update Account Holder Endpoint.

Overview

In order to introduce new functionality while continuing support for our existing Update Account Holder Information endpoint we will support our legacy format along with the new Business Patch Request format and Individual Patch Request format.

• Business Patch Request - For a business account holder you are able to update the business details, the beneficial owner details, and/or control person in one request by providing each entity_token and the associated fields you need to update.
• Individual Patch Request- For an individual account holder you are able to update all account holder details after providing the entity_token.
• Legacy Patch Request - This format only allows you to update the account holders email or phone_number. It also allows you to enroll a KYC Exempt account holder to a business_account_token.

To use this endpoint the associated entity_token must be presented in the request. You only need to submit data items you wish to update, for example if you need to update an individual's last name you would provide the individual's entity_token and the last_name field only.

KYB/KYC Considerations

If Lithic is performing KYC or KYB on the account holder we will resubmit the user's updated details to be re-screened. The account holder will then be approved or Lithic will return current failure reasons to remedy. The account holder can then provide documentation for review. Currently, if Lithic is performing KYC or KYB (KYB_BASIC) and the account holder status is APPROVED their details are not able to be edited.

If the account holder is KYC_EXMPT, KYC_BYO, or KYB_BYO the information is able to be edited at any time during the account holder's lifecycle.

Details

For detailed endpoint specifications and usage examples, visit our API Reference. The following is an example of the updated format request for editing all business account holder entities.

{
    "nature_of_business": "string",
    "website_url": "url",
    "beneficial_owner_individuals": [
        {
            "entity_token": "uuid",
            "address": object,
            "dob": "date",
            "email": "string",
            "first_name": "string",
            "government_id": "string",
            "last_name": "string",
            "phone_number": "string"
        },
        {
	          ...
        }
    ],
    "business_entity": {
        "entity_token": "uuid",
        "address": object,
        "dba_business_name": "string",
        "email": "string",
        "government_id": "string",
        "legal_business_name": "string"
        "parent_company": "string",
        "phone_numbers": [
            "string",
            ...
        ],
    },
    "control_person": {
        "entity_token": "uuid",
        "address": object,
        "dob": "date",
        "email": "email",
        "first_name": "string",
        "government_id": "string",
        "last_name": "string",
        "phone_number": "string"
    },
    "individual": {
        "entity_token": "uuid",
        "address": object,
        "dob": "date",
        "email": "email",
        "first_name": "string",
        "government_id": "string",
        "last_name": "string",
        "phone_number": "string"
    }
}

Recommended Actions

We encourage you to integrate to the updated format to fully use the full patching account holder capabilities.

The legacy format will continue to work, as is, but in the future the legacy format will be deprecated

If you have any questions or concerns, please contact us via the HELP link in your Lithic Dashboard.

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