KYC/KYB

Know Your Customer (KYC) and Know Your Business (KYB) are regulatory compliance processes for verifying the identity of individuals and businesses before establishing financial relationships.

Key Details

  • KYC applies to individual customers and includes identity verification, address verification, and risk assessment
  • KYB extends these requirements to business entities, verifying ownership structure, beneficial owners, and business legitimacy
  • Required by anti-money laundering (AML) regulations across most jurisdictions
  • Modern fintech platforms automate KYC/KYB through API integrations with identity verification providers

Related Terms

Embedded FinanceAudit TrailPayment Operations

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