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Know Your Client (KYC)_

We help you choose and integrate the right know your customer solution (KYC) for your business.

Every business, yours included, has to verify their customers. The approach varies depending on the industry, but in FinTech there is a know your customer (KYC) framework that varies slightly, depending on the country and nature of operations. 

A common way to do it is to use a certain KYC provider where you configure the rules and confidence levels that suit your risk profile. The tricky thing is that there are dozens of popular KYC solutions with varying features, pricing, and integration approaches.

We’ll help you figure out the best KYC system depending on the countries you are servicing, the nature of the apps (mobile or web), and the verification methods. After that, we can either help your existing team implement the KYC program or do it for you completely.

KYC Process

  • Understanding your use case.
    KYC regulations, scoring approaches, and available databases are very different and depend on the industry, country and potential problem when the system gives false negative (deny KYC when everything is good) or false positive (allow KYC when there are undetected issues)
    KYC is rarely a problem of its own. It’s tightly coupled with the main app functionality and we have to understand the big picture to help.
  • Narrow down the alternatives.
    We help you narrow down the potential KYC solutions that could be integrated and help you choose the one that fits your needs and is easiest to integrate.
  • Integration
    We do the actual development work for integrating and setting up the scoring approach in the tool itself.
  • Support
    A sophisticated solution, like a KYC program with a lot of moving parts, requires monitoring and on-call support that could address any issues quickly. Issues come from different types of verification documents, incorrect scoring in certain cases (false positives/negative), and other cases.

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