1. What You Are Using

Verity is sovereign, formally‑verified, and agent‑native. It runs entirely on your bank’s own hardware (no cloud). Every number in every account is backed by a Merkle‑proofed, TLA+‑verified ledger – it is mathematically impossible to lose money or double‑spend.

Banking products (checking, savings, loans, CDs) are compiled from safe code (ASL) – if a product rule can be broken, it won’t compile. AI agents work alongside you; they have their own bank accounts (1A1A) and cannot exceed the permissions you give them.

2. Customers & Accounts

2.1 Opening an Account (Instant, AI‑Native)

1. Go to Customers → New Account.
2. Enter the applicant’s name, address, date of birth, and SSN (or national ID).
3. The system performs instant KYC (SSN verification + a 15‑second selfie liveness check).
4. If approved (85%+ automated), the account is active immediately.
5. A Verity Companion AI introduces itself to the customer (see § 9).

What really happens:

• The KYA identity framework (v14.0) verifies the customer cryptographically.
• A new account is created on the Merkle ledger.
• A capability‑governed smart account is issued to the customer’s personal AI agent (if they choose one).

2.2 Account Types

• Current / Checking Account – regulated by Reg DD (Truth in Savings) and Reg E (error resolution).
• Savings Account – with automatic interest calculation (Reg DD compliant).
• Term Deposit (CD) – maturity date, early withdrawal penalty.
• Loan Accounts – mortgage, personal, auto (see § 6).

All accounts are defined as ASL‑compiled products. This means the interest rate can never be negative, the APY is always calculated correctly, and the bank cannot accidentally violate Reg DD – the compiler would reject the product.

2.3 Viewing / Editing a Customer

• Search by name, SSN, account number, or DID.
• The Party Service Domain (BIAN v14.0) keeps a single view of the customer across all products.
• You can freeze/unfreeze accounts, update contact details, or add notes.

3. Payments & Transfers

Verity processes every transaction in real time (no batch windows).

3.1 Internal Transfers (Account‑to‑Account)

1. Go to Payments → Transfer.
2. Select the debit and credit accounts.
3. Enter the amount and a reference.
4. Click Submit.

What really happens:

• The transaction is validated against the capability token of the user (or agent).
• The Merkle Double‑Entry Ledger appends two entries (debit + credit) with a Merkle proof.
• The FIM (Financial Invariants Monitor) checks that no system parameter was modified.
• The Runtime TLA+ Checker samples the transaction against the formal spec.

3.2 Wire Transfers (FedWire / CHIPS)

Wires above $10,000 require dual approval (two different people, or a person + an agent). The system automatically formats the message in ISO 20022 (structured address compliant).

3.3 Instant Payments (FedNow / RTP)

• Send up to $10 million instantly.
• Pre‑transaction risk assessment via the FedNow Network Intelligence API.
• Settlement is reflected on the ledger in milliseconds.

3.4 Cross‑Border (SWIFT)

• The SWIFT Blockchain Bridge settles tokenised deposits 24/7.
• Both legs (e.g., EUR → USD) are atomically linked by the Oraclizer cross‑domain state contract – if one side fails, both fail.

3.5 ACH / Batch Payments

For low‑priority, high‑volume payments, use the ACH rail. The Smart Router automatically picks the cheapest/fastest rail based on the amount and priority.

4. Loans & Credit

4.1 Loan Origination

1. Go to Lending → New Application.
2. Select the product (personal loan, mortgage, auto, etc.).
3. The system retrieves the customer’s identity and financial history.
4. An AI agent performs the initial credit assessment (using the ASL‑compiled product rules).
5. The decision is presented with a plain‑language explanation (CFPB ECOA compliant).

4.2 Loan Approval (Dual Control)

All loans require two separate approvals – this is enforced by the capability microkernel, not by a policy.

• Approver A: loan:approve:<id>
• Approver B: risk:signoff

4.3 Loan Servicing

• View repayment schedule, interest accrued, outstanding principal.
• Accept early repayments, handle defaults.
• The GNN Fraud Engine continuously monitors for unusual repayment patterns.

5. Deposits & Savings

5.1 Interest Calculation

Interest is calculated daily and compounded according to the product’s temporal contract (Reg DD). The formula is part of the ASL code – it cannot be changed without re‑compiling the product.

5.2 Overdrafts

• Overdraft fees are only applied if the customer has explicitly opted in (Reg E).
• The system prevents negative balances for accounts without overdraft protection.

5.3 Reg D (Savings Withdrawal Limits)

The product’s temporal contract enforces the six‑withdrawal‑per‑month limit. Violations are caught at compile time, not after the fact.

6. Compliance & Regulatory Reporting

No more waiting for end‑of‑day batches. Every transaction is tagged at posting time.

6.1 Key Reports

Report	Details
FFIEC 041 Call Report	Generated directly from the ledger (no ETL).
FinCEN SAR	Automatically generated when the GNN fraud engine or AML agent detects suspicious activity.
FinCEN CTR	Auto‑filed for cash transactions >$10,000.
DORA Register of Information	Auto‑generated in XBRL‑CSV format.

6.2 ZK‑Proof Audit Packages

A regulator can receive a zero‑knowledge proof that a report is accurate without seeing the underlying customer data. This is the “show me a proof, not the data” paradigm.

7. AI Agents (Your Digital Workforce)

7.1 Agents as First‑Class Participants

Every agent has:

• A zkVM identity (a cryptographic hash of its binary).
• A capability‑governed smart account (1A1A).
• A KYA credential (Know Your Agent).

7.2 Built‑in Banking Agents

Agent	What It Does
Payment Agent	Processes debits, credits, wire transfers
Fraud Detection Agent	Scans the transaction graph in real time (SCAFDS, AGNAE, etc.)
AML Agent	Generates Suspicious Activity Reports, monitors for structuring
Verity Companion	Customer‑facing AI financial assistant (see § 9)
Loan Origination Agent	Handles mortgage/consumer loan applications

7.3 Controlling Agents (Delegative Governance)

1. Go to Governance.
2. Select an agent.
3. Set its spending limit, approval threshold, and allowed operations.

The agent cannot exceed these boundaries – the capability token system enforces this at the VM level.

8. ATM & Physical Channels

8.1 Cardless Biometric Access

Customers walk up, scan their palm or face. No card, no PIN. Identity is verified by the KYA framework (the same one that verifies AI agents).

8.2 Instant Card Issuance

Lost or swallowed card? The ATM dispenses a new one in under 60 seconds. The old token is revoked on VeriChain before the customer walks away.

8.3 Precious Metals ATM

Some ATMs allow customers to deposit gold jewellery (purity verified by XRF spectrometer) and receive instant credit. Customers can also purchase physical gold/silver bars.

9. The Verity Companion (Personal AI)

Every customer gets a personal AI agent (if enabled). It:

• Monitors spending and suggests savings.
• Alerts before overdraft.
• Pays bills automatically within user‑set boundaries.
• Explains everything in plain language (CFPB ECOA compliant).

The Companion never deviates from its stated plan without telling the customer (Apple Principle).

10. Security That You Can Feel

• No password can be stolen – all access is capability‑based, not identity‑based.
• Kill Switch – any agent (or customer session) can be paused, suspended, or terminated with a full forensic snapshot.
• Hardware‑rooted trust – on TEE‑enabled servers, the binary proves it is running on genuine hardware.
• Post‑quantum ready – the platform is migrating to NIST FIPS 203/204/205 cryptography.