Compliance
What is KYC (Know Your Customer)?
KYC is the set of checks that verify a customer's identity and assess their risk before and during a business relationship — identity documents, beneficial ownership, and ongoing risk review. In payments, KYC (and KYB for businesses) is the onboarding gate that underpins AML and sanctions controls on every subsequent transaction.
Strong KYC reduces fraud and regulatory exposure but adds onboarding friction; the design goal is risk-based verification that is rigorous where it matters and light where risk is low. KYC data also feeds ongoing AML monitoring.