Overview
Know Your Business (KYB)
Verestro offers a tool for identifying and verifying business customers. The tool dedicated to performing KYB (Know Your Business) verification consists of Administration Panel, KYB Form, and Customer Panel.
The platform is integrated with major AML databases (European Union Sanction List, OFAC, United Nation Sanction List) and can be integrated with additional ones on request. The platform can be integrated with local sources of data that enable quick fulfillment of user data – it has been integrated with rejestr.io in Poland to import customer data automatically.
The platform consists of web widget that can be customized to customer requirements and administration panel where manual and automatic verification can be visible to Customer Service teams.
Abbreviations
This section shortly describes abbreviations and acronyms used in the document.
|
Abbreviation |
Description |
| KYB | Know Your Business |
| AML | Anti-Money Laundering |
Terminology
This section explains a meaning of key terms and concepts used in this document.
|
Name |
Description |
| KYB | Process of verifying the identity and credibility of business clients. |
| AML | Refers to a set of procedures and regulations aimed at preventing money laundering and terrorist financing. |
| Administration Panel |
It is a tool for carrying out the KYB process, communicating with merchants, and monitoring onboarding thanks to functionalities that enable a transparent and efficient process. |
| KYB Form |
A form used to collect information about the verified merchant directly by the Representative. |
| Customer Panel | A panel that merchants can access after completing the form. It provides access to operator comments, data editing, and insight into the current verification status. |