# Business onboarding of DFSPs
The onboarding journey for DFSPs comprises steps that happen outside the Mojaloop Hub. They are related to the business side of onboarding, and are useful for the Hub Operator to be aware of.
NOTE
The steps of the DFSP application process and the business onboarding journey are defined by the Scheme, in conformance with local financial regulatory requirements.
Key milestones of the business onboarding journey are:
- The DFSP discovers the service offered by the Scheme, and indicates their intention and business reason to join the Scheme.
- The DFSP signs an application agreement.
- Documentation is shared with the DFSP, which allows the DFSP to assess the technical effort to integrate, as well as their business compatibility with the Scheme Rules.
- The Scheme Operator performs due diligence for the candidate's eligibility.
- The DFSP understands and signs a participation agreement (contract).
- The DFSP completes a KYC procedure with the settlement bank. This is part of the process of opening a settlement bank account (also called liquidity account).
- The DFSP develops new UI functionality/updates existing UI functionality to expose the Scheme-supported use case(s) to end users.
- The DFSP opens and pre-funds their liquidity account at the settlement bank.
In parallel with the business steps, after signing the participation agreement, the DFSP can start their technical onboarding journey.