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Understand what connected accounts are, how the platform model works, and how connected accounts underpin Embedded Finance use cases built on PIK.
Connected accounts are sub-accounts that platforms create and manage for their customers through PIK. They are the foundation of PIK’s Embedded Finance offering, enabling platforms to build financial services directly into their own products — without becoming a licensed financial institution themselves. When a platform creates a connected account for a customer, that customer gets access to financial infrastructure: wallets to hold funds, local account numbers to receive money, the ability to convert currencies, and the ability to make payouts to banks worldwide. The platform orchestrates all of this through the PIK API, acting on behalf of connected accounts while PIK handles the underlying banking rails, regulatory compliance, and funds custody.

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What a connected account is

A connected account is a customer account that exists under your platform’s master PIK account. Think of it as a financial account provisioned in your customer’s name, integrated into your platform’s product, and powered by PIK’s infrastructure. Each connected account has:
  • Its own wallet for holding funds in one or more currencies.
  • An identity that has been verified through PIK’s KYC/KYB compliance process.
  • Capabilities that your platform can activate, such as receiving inbound payments, making outbound payouts, or converting currencies.
  • Its own transaction history and reporting.
Connected accounts are distinct from your platform’s own PIK account. Your platform account is how you access PIK services. Connected accounts are how your customers access those services — through you.

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The platform model

Connected accounts exist within a three-tier structure. PIK is the infrastructure layer. Your platform is the intermediary. Connected accounts are your customers’ accounts. As a platform, you:
  • Create and manage accounts on behalf of your customers.
  • Control what financial capabilities each account can access.
  • Call PIK APIs on behalf of connected accounts using the x-on-behalf-of header.
  • Move funds between your platform wallet and connected account wallets.
  • Collect fees from connected accounts or distribute funds to them.
PIK handles the regulatory, compliance, and banking infrastructure that makes all of this possible. Your customers interact with financial services through your platform’s product — they may never need to know PIK is involved. See Platform relationships for a detailed explanation of the three-tier model, including how funds move between each layer and where compliance responsibilities lie.

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Connected accounts vs. your platform account

Platform account — owned by your business, used for API access and platform-level funds, requires platform onboarding KYC, authenticated via platform credentials, has a platform wallet. Connected account — owned by your customer, used for customer-level financial services, requires per-customer KYC/KYB, authenticated via the x-on-behalf-of header, has a per-customer wallet.