# Business (KYB) Verification ### **Know Your Business (KYB) Guide** Welcome to the KYB onboarding guide! This document will help you understand the verification process, required documents, and timelines so you can complete KYB quickly and smoothly. *** #### **1. Introduction** * **What is KYB?** KYB (Know Your Business) is a compliance process to verify the identity and legitimacy of a company before it can access financial or regulated services. * **Why it matters:** Compliance is at the core of what we do. By maintaining strong compliance standards, we can offer more sophisticated and innovative financial products to our customers while staying fully aligned with regulations. A strong KYB process powers: * **Faster settlements** - Fewer holds, quicker fund flows. * **Better products** - Compliance unlocks advanced financial services. * **No lost payments** - Reduced errors and payment failures. * **Global scalability** - Enter new markets and handle higher volumes. * **Stronger reliability** - Early risk detection protects new & existing clients. *** #### **2. How the KYB Process Works** | Step | Description | Estimated Time | | ---------------------------- | --------------------------------------------------------- | -------------------- | | 1. Customer Account Creation | Call customer endpoint and provide basic customer details | 1-3 minutes | | 2. Document Upload | Submit required documents (see below) | 5-10 minutes | | 3. Verification | Automated + manual review by compliance team | 1-5 business days | | 4. Approval | Receive confirmation and access to the platform | Instant after review | *** #### **3. Required Information & Documents** Below is the standard list of documents needed. Requirements may vary depending on your jurisdiction and business type. **Company Information** * Legal business name * Registration number & country of incorporation * Registered business address * Core business information (e.g. registration date, tax identification number if applicable) **Documents** * Certificate of Incorporation / Business Registration * Memorandum and Articles of Association (or equivalent governing corporate documents) * Shareholder & Director Registry (or equivalent) * If providing an unofficial document, please provide signed and dated Shareholder Registry that clearly shows ownership (name, percentage ownership) * Proof of business address (e.g., utility bill, bank statement, or lease agreement) * Proof of business address must be an official document or a lease agreement * Not accepted as proof of address: Vendor invoices (e.g., bills or receipts from third-party suppliers), handwritten receipts or unofficial agreements. * Identification documents for all Ultimate Beneficial Owners (UBOs) who **hold 25% or above** ownership, voting rights, or any form of direct or indirect control over the entity. * We explicitly KYC each UBO who holds 25% or above ownership or voting rights. * Passport preferred for all individuals (government-issued ID accepted if passport not available) * Proof of address required for each UBO (e.g., recent utility bill, bank statement, or government-issued letter) * Company structure chart (if applicable) **Optional (if required by jurisdiction):** * Tax registration certificate * Financial statements **Document Checklist** * [ ] Certificate of Incorporation / Business Registration * [ ] Memorandum and Articles of Association (or equivalent) * [ ] Shareholder & Director Registry * [ ] Proof of Address (recent document dated within the last 3 months) * [ ] Source of Funds Documentation * [ ] KYC Information on UBOs (anyone that directly or inderectly controls more than 25% of the business) In addition, if a business would like to open a USD SWIFT account: * [ ] Financial Statements (balance sheets, income statements, profit & loss statements) *** #### **4. Risk-Based Approach** Depending on your **risk profile** - based on location, nationality, industry, and transaction volumes - we may request: * **Additional documents** (e.g., financial audits, tax filings) * **Enhanced due diligence (EDD)** checks for higher-risk entities or jurisdictions * **Video verification** or additional identity checks for UBOs if required This ensures we remain compliant with global AML and financial regulations while enabling secure access for all customers. *** #### **5. Document Quality Requirements** To ensure fast approval, please submit **high-quality scans or PDFs** of all documents: * **Screenshots are not accepted** - use official digital documents or high-resolution scans. * All text must be **clear, readable, and unaltered**. * Documents must be **current** (e.g., dated within the last 3 months if applicable). **Example of a Poor Document Submission** | Issue | Description | Why It Fails Compliance Check | | -------------------- | --------------------------------------------------------------------------------- | --------------------------------------------------------------- | | **Screenshot** | The user submits a screenshot. | Screenshots can be manipulated; lack metadata; unreadable text. | | **Partial Document** | Only half the card is visible; key information is omitted. | Missing information → cannot verify authenticity. | | **Expired Document** | An ID card shows an outdated address and the document is not current. | An ID document must be valid and recent. | | **Blurry Image** | Photo taken at an angle with shadows; details like name and DOB are hard to read. | OCR systems and compliance officers cannot verify. | | **No Back Side** | Only front side of an ID card is provided; back side omitted. | Full ID verification fails without full document. | **Visual examples of Good vs Bad Documents** {% columns %} {% column %}
{% endcolumn %} {% column %}
{% endcolumn %} {% endcolumns %} AI-generated example of a document that would not vs would be accepted. All resemblance to real people, documents, or data is purely coincidental and used solely for illustrative purposes. *** #### **6. Tips for a Smooth KYB Process** * Ensure that every UBO holding **25% or above** ownership, voting rights, or control completes full KYC verification. * Submit documents in **PDF** or **high-quality image** format. * Double-check shareholder and ownership information before submission. * Provide **contact details** in case the compliance team needs clarification. *** #### **7. FAQs** **Q: How can I streamline KYB process?** A: To avoid delays, ensure all required documents are submitted in the correct format. Missing, incomplete, or low-quality files (e.g., screenshots) are the most common causes of KYB processing delays. **Q: How long does KYB take?** A: Typically 1-5 business days once all documents are submitted. **Q: What if my company has complex ownership?** A: Submit a clear ownership chart showing all layers up to ultimate beneficial owners. **Q: Is my data secure?** A: Yes, all documents and data are encrypted and handled in accordance with compliance regulations. *** #### **8. Support & Help** * **Email:** * **Live Chat:** *** #### **9. Status Tracking** Use our dashboard to track your KYB progress: * **Pending KYC Completion:** Waiting for document submission * **Pending:** KYB is under review * **Resubmission Required:** Additional info requested or previously provided info was not accepted * **Approved:** KYB is complete, and your account is active To view the full breakdown of approved products, please refer to the information provided in status\_breakdown - [get-customer](https://docs.alignlabs.dev/align-api/customers/get-customer "mention"). *** #### **10. Next Steps After Approval** * Access platform features * Set up payment methods or integrations ***