Know Your Customer (KYC) or Know Your Business (KYB) is the process of a business verifying the identity of its clients or users and assessing their suitability, along with the potential risks of illegal intentions. KYC and KYB are made essential for businesses to remain compliant with anti-money laundering (AML) laws.
Who needs it?
Identity verification is increasingly required by regulators, banks, insurers, export creditors and other financial institutions. In general, whether you are technically subject to KYC regulations, it is recommended to consider a detailed due diligence process to protect your company and your customers.
How it works
The Provide KYC API acts as a gateway to third-party digital identity management platforms.The API currently supports two identity verification services: Identity Mind and Vouched.
Did you know?
Provide offers competitive pre-negotiated rates in partnership with supported KYC vendors.
Contact us to fast-track your KYC or KYB compliance.