Know Your Customer (KYC)

“Know Your Customer” is a process all businesses that manage customers' accounts must go through to verify their identity every once in a while to prevent fraud or financial issues. Businesses may refuse to open a customer’s account if they don’t meet their KYC guidelines. 

Some of the most common aspects of a KYC process are:

• ID verification 
• Face verification 
• Document verification, such as utility bills as proof of address,
• Biometric verification