The acronym "KYC" means "Know Your Client", which is currently a concept that extends itself to several procedures and security analyzes in order to prevent fraudulent operations, money laundering among others risks that may impact negatively impact operations and customers.
Before creating a payment account, it is necessary to validate personal data, documents and images in order to check whether the applicant has any restriction preventing him from operating a Bankly Payments Account. The risk and security analysis can also be triggered at any time the partner application or Bankly identifies being suitable.