Become and stay KYC compliant

Stay on top of KYC compliance with Veriff

KYC regulations are continually changing and adapting. Whereas these rules once only affected financial institutions such as banks, today they are essential for a number of financial and non-financial institutions. The entities regulated by KYC requirements vary from one country to another; particularly as legislation is often implemented at a national level.

The stages of KYC

Although KYC laws vary around the world, generally speaking businesses must follow the same three stages. They must run a customer identification program and verify the information provided, perform customer due diligence, and monitor their clients on an ongoing basis.

• Customer identification program
  

  The KYC process includes obtaining and checking a customer’s personally identifiable information (PII). This phase is usually referred to as a customer identification program (CIP).

• Customer due diligence
  

  Clients that are deemed to be high risk will be subjected to greater levels of due diligence than those who are not. Due to this, there are three different levels of CDD procedures.

• Ongoing monitoring
  

  Customers must be continually monitored because the regulatory environment is constantly changing and evolving. Similarly, a customer’s risk level may change during their relationship with your business.

Why trust Veriff with KYC processes?

We value your business’ and customer’s security and ease above all else. Our powerful AML Screening provides end-to-end anti-money laundering compliance. It verifies the identity of new customers, screens them against global PEP and sanctions watchlists, and checks for negative news.

• Machine learning and AI
  

  We use a hybrid approach, harnessing both AI and a global team of expert verification specialists ensuring no fraud slips through the cracks.

• More data points
  

  We crosslink sessions using hundreds of data points, 
analyzing both device and network to ensure bad actors stay out every time.

• Global coverage
  

  Veriff supports 12,000+ identity documents across 230+ countries and territories, and 48 languages, making it the most comprehensive identity verification company across the globe.

Best-in-class fraud prevention

Ensure your business knows exactly who your customers are, and keep your platform and users safe.

• Screen global watchlists in minutes
  

  Comply with regulations and fight financial crime. Screen users against global PEP and sanctions watchlists. Veriff’s list coverage is updated in real time, bolstering confidence in your KYC process.

• Check for negative news
  

  Even peripheral connection to crimes can indicate risk. Veriff screens for negative information and news to help businesses assess the potential AML risk exposure of their customers.

• Monitor users after approval
  

  Political and regulatory environments change very quickly. With real-time data, continuously screen customer lists with Veriff’s ongoing monitoring of PEP watchlists, global sanctions lists, and adverse media. Automated screening notifies you if something changes with your existing or previously onboarded customers.