Fondo supports private individuals and legal entities as account owners. The accounts offered include ISK, depå (eng. depot), and Kapitalförsäkring (eng. endowment insurance). Partners can configure the customer proposition they want to offer - execution-only, investment advice, and/or portfolio management - depending on the partner's business model and regulatory setup. Fondo also supports solutions for onboarding professional investors.
For private individuals, Fondo offers a fully digital and seamless onboarding journey which includes digital identity verification (BankID), initial and ongoing screening against PEP and sanction records and digital signature (BankID) of the account opening.
For companies and other organisations, Fondo likewise retrieves verified company data, all valid combinations of authorised signatories, and information about ultimate beneficial owners and board members. These persons are also monitored for PEP and sanctions status, and any changes automatically trigger renewed checks and, when necessary, risk re-classification.
This unified approach allows partners to rely on Fondo to keep all client records—whether individual or corporate—complete, accurate and fully compliant, without building their own KYC or KYB processes.
For the solution to work the end-customer needs to give consent to share their account information through a digitally signed power of attorney which is integrated in the account opening journey.
Every mutual fund order follows a well-defined life cycle that ensures both regulatory compliance and accurate customer reporting.
The below Customer Order Status Glossary and State Diagrams for subscriptions and redemption visualise this process in a Fondo context. The table diagrams outline how an order moves from initiation to settlement and how associated cash transactions and fund transactions are created and updated in the system.
| Status | Meaning (customer order) | Cash Transaction (CT) | Fund Transaction (FT) | Typical next | |
|---|---|---|---|---|---|
| RECEIVED | Order accepted by Fondo. | Subscription: none Redemption: none. | Subscription: none Redemption: none. | PENDING, or HOLD | |
| PENDING | Waiting room: not yet included in external order or external order not yet submitted. | Subscription: CT settlement_date = null. Redemption: none. | Subscription: none. Redemption: FT settlement_date = null. | SENT (normal) or HOLD/CANCELED | |
| SENT | External aggregated order submitted and accepted by Allfunds. (Normal path) | Subscription: CT settlement_date = null. Redemption: none. | Subscription: none. Redemption: FT settlement_date = null. | SETTLED | |
| SETTLED | Settlement posted; bookings reflected. | Subscription: CT settlement_date = settlement day. Redemption: CT created now, settlement_date = settlement day. | Subscription: FT created now, settlement_date = settlement day. Redemption: FT settlement_date = settlement day. | — (terminal) | |
| HOLD | Parked pending manual/system check. | No change (subscription CT stays as is; redemption none). | No change (redemption FT stays as is). | Back to PENDING → SENT or CANCELED | |
| CANCELED | Order canceled or rejected (reasoned). | Subscription: CT settlement date = NULL, aborted = TRUE Redemption: none. | FT/CT must not show settlement. | — (terminal) |
Fondo supports deposits through Swish (realtime), sv. Bankgiro (1-2 business days) and sv. Autogiro (recurring deposits).
As an example a realtime deposit through Swish starts when a partner application calls the API endpoint (POST /deposit/swish) to create a payment session. As soon as the incoming payment is confirmed by the customer in the Swish app, a cash transaction is created and the account balance updated.
- The transaction includes amount, currency, reference IDs and settlement date.
- The status moves automatically through creation, confirmation and settlement, ensuring that the deposit is reconciled against the correct client account.
A Bankgiro deposit is initiated at the customer's internet bank and Fondo exposes a unique OCR reference, linked to the relevant account, through the API to be able to allocate the transfer automatically.
As for Autogiro, the customer can set-up a recurring payment mandate via Fondo to enable recurring deposits.
In order to withdraw money you need to have a validated Swedish bank account connected to the service. This is provided by Fondo through a journey which connects the customer with their bank (PSD2 service) to retrieve the bank account details necessary to validate and process the withdrawal so that the money ends up on the customer's external bank account within 1-2 business days.
Mutual funds have a management fee that is withdrawn from the NAV-price. The typical business model within mutual fund distribution is that the management fee is shared with the distributor (called retrocessions or kickbacks). Fondo as a distributor, and the receiver of these kickbacks always forwards 100% of these kickbacks to the end-customers.
- Fondo pays back the full kickback amount to the end-customers account in cash, rather than keeping it as income.
- Each kickback payment is recorded as a cash transaction with full details (amount, currency, reference IDs and instrument).
- Partners can retrieve and report kickbacks using standard cash transaction endpoints (GET /transaction/cash).
All fees are transparently disclosed and reported to the customer. Fees that occur in this setup are:
- Fund fees: Fees relating to the fund (e.g. management fees, performance fees, transaction fees etc.). These fees are charged in the NAV-price and is not withdrawn from the customers account at Fondo.
- Fondo fee: Fondo charges an annual distribution fee of 0.15% that is calculated daily based on the account value and is withdrawn from the account on a quarterly basis. If there is no cash balance Fondo will redeem fund units to cover the charge.
- Partner fee: Fondo can facilitate a partner fee agreed between the partner and the customer i.e. calculate and/or withdraw it from the customer account and pay it to the partner.
Every movement of money (e.g. deposits, withdrawals, retrocessions, fees, cash transfers etc.) is recorded as a CashTransaction object.
Partners can:
- Retrieve a full list with GET /transaction/cash or query a single transaction with GET /transaction/cash/{transaction_id}.
- Filter by date, ref and refType, or type (deposit, withdrawal, retrocessions, transfers) to view aggregated balances or to create a transaction overview.
By exposing each step through event-driven endpoints and web sockets, Fondo ensures that partners always have an up-to-date picture of client cash positions.
In addition to cash transactions, all changes in fund units are recorded as FundTransaction objects.
Fund transactions can originate either from an order or independently of an order. Examples of fund transactions that are not order-driven include:
- Fund transfers to or from another custodian
- Corporate Actions (CA), such as fund mergers, splits, or liquidations
- Corrections/compensation of fund units
Partners can:
- Retrieve a complete list of fund transactions via GET /transaction/fund or query a single transaction using GET /transaction/fund/{transaction_id}.
- Filter by date, reference (ref, refType), fund, account to view aggregated balances or to create a transaction overview.