Know Your Business (KYB)
The primary use case for Kyckr's API is to improve the efficiency and compliance of 'Know Your Business' processes; the identification and verification of customer information by regulated entities as required under relevant AML legislation. We provide data to verify both company information and representatives, including directors, company officials and shareholders - this is available both as machine-readable data and contained within original registry documents. Our API is frequently integrated into both proprietary KYC orchestration systems, in addition to third-party onboarding or customer lifecycle management platforms (CLM).
Our data is also used to verify basic company details at the point of onboarding, to ensure potential counterparties are legally registered entities. For example, a major payments company uses Kyckr data to ensure potential customers pass a first-line compliance check: if the data the customer supplies (which includes their name and address) does not match information found at a national corporate registry, their application is rejected. This use case employs the Kyckr API's 'search' and 'lite profile' endpoints.
Updated 9 months ago