Basefund Glossary

Confirmation by a receiver that a selected bank account may be used for a disbursement. Approval and validation are separate statuses.

The connection between a bank account and a particular disbursement. A reusable account must still be assigned to each applicable disbursement.

The security check used to confirm a receiving bank account. Basefund may use a microdeposit or another available validation method. Bank-account validation is separate from identity verification.

The process used to confirm the identity of an individual participating in a closing or transaction. A completed verification may be reused while it remains valid.

A secure sign-in method stored on an approved device, browser profile, or password manager. Basefund may also require a passkey as step-up authentication before a sensitive action.

An additional authentication prompt required before a sensitive action, such as entering or assigning bank information.

Coverage tied to the specific verified parties, validated receiving account, and amount associated with a transaction or disbursement. Required identity verification and bank-account validation must both be complete before a disbursement can qualify.

One connected path of funds within a closing or transaction. A Flow groups the applicable senders, clearers, receivers, amounts, purposes, receipts, and disbursements. A transaction can contain one Flow or multiple Flows.

A Secure Transaction type used for recurring disbursements or continuous funding.

A Secure Transaction type used for one disbursement or a related batch of one-time disbursements.

A Basefund workflow for a coordinated, multi-participant funding event with a defined closing date. Secure Closings are priced per closing.

A Basefund workflow for one-time, ongoing, or internal disbursements outside a coordinated closing. Secure Transactions are subscription-based.

A Secure Transaction type used to move funds between accounts controlled by the same organization, including accounts held at different financial institutions.

An organization that receives or controls funds before they are disbursed to one or more receivers. A trustee, paying agent, or other intermediary may act as a clearer.

A person with permission to create and manage a closing or transaction, including its Flows, participants, receipts, disbursements, accounts, and approvals.

A person who shares transaction-management responsibilities with a Coordinator, subject to the permissions assigned in Basefund.

A named person associated with a participating organization. An individual contact uses their own work email to sign in and complete actions.

An organization or individual involved in a closing or transaction. A participant’s access and actions depend on the role and permissions assigned.

The organization or individual receiving a disbursement in a Flow.

The organization or individual providing funds to a Flow.

An organizational email address used by multiple people. A shared mailbox may receive Basefund notifications but cannot sign in or complete identity verification.

A person with read-only access to a closing or transaction. A Viewer cannot edit transaction information or complete participant actions.

The organization or individual named to receive funds in the bank instructions.

A summary of a Secure Closing that can document the closing details, participants, disbursements, and required approvals.

The section of a Flow that identifies the receivers, amounts, purposes, transaction methods, and funding sources for outgoing funds.

Originator to Beneficiary Information. Additional information included with bank instructions to identify a sub-account, investment fund, pool, invoice, or other destination detail.

An organization responsible for receiving funds and distributing them to the appropriate parties. A paying agent may act as a clearer in Basefund.

The section of a Flow that identifies the senders, clearers, amounts, transaction methods, and sources of incoming funds.

An identifier or description used to support tracking, reconciliation, or reporting for a receipt or disbursement.

The method selected for a movement of funds, such as wire, ACH, RTP, or check. Available fields and validation steps may differ by method.