KYC Process & Review
What different responses does the API return?
Also see the IdentityVerifications endpoint: https://docs.cybrid.xyz/reference/createidentityverification
For Individuals (KYC)
Information Collected
Individuals, and beneficial owners of businesses, will go through a KYC process to verify their identity.
The KYC process includes, but may not be limited to, the following:
- Government issued identification
- Selfie check that must match photo ID on government identification
- Database Verification (validates PII against voter, telco, utility or credit databases)
- AML Screening, including
- PEP / HIO report
- Watchlist / Sanctions report
- Adverse Media Report
States to understand
Identity Verification State | Description |
---|---|
storing | The identity verification is being created in our system. |
waiting | The identity verification has a Persona Inquiry that has not yet been started by the customer. |
pending | The identity verification has a Persona Inquiry that has been started by the customer but has not yet been completed by them (i.e. they have entered information but not finished the process yet). |
reviewing | The identity verification has been pulled into review and is now with our Compliance team. If the customer fails either the Database Verification or AML Reports the KYC will go into review. |
expired | The identity verification was not completed by the customer in time; another identity verification can be created. |
completed | The identity verification has been completed and has an outcome of passed or failed . |
API Return Codes
The following Government ID and Selfie failures will cause the customer to be rejected. If a customer is rejected, and would like to attempt KYC again, you will need to contact support to update the customer's state to unverified
.
Government ID Failures
Error | When this error could occur |
---|---|
id_check_failure | The document failed verification analysis. This could occur for a number of reasons including blurry photos, obscured data, missing data, or other compliance check failures. |
duplicate_person_check_failure | The customer has already signed up for the service via your application. |
id_quality_check_failure | The image of the document is too blurry to extract information or properly perform face recognition. |
id_barcode_check_failure | The barcode on the back of the document could not be properly read. |
id_expiration_check_failure | The ID is expired. |
id_double_side_check_failure | The ID is double sided, but only one side of the ID was provided. |
id_type_allowed_check_failure | The document is not a supported document. Supported documents include Drivers License, National ID, Passport, Passport Card, Permanent Resident Card, Visa or Work Permit. |
id_country_allowed_check_failure | If the document is not from a supported country (for example, US customers must use a US form of ID). |
Selfie Failures
Error | When this error could occur |
---|---|
selfie_check_failure | If the selfie images are too blurry, not the correct facial angles, too light, too dark, or cannot be matched to the photo on the provided government ID. |
The following Database and AML Report failures will go into a manual compliance review, and the compliance team will make a determination to approve or reject the customer KYC.
Database Verification Failures
Error | When this error could occur |
---|---|
database_check_failure | A match for the customers name, address, date of birth, or SSN cannot be found in any of the government databases. Databases searched include Telco, Credit, Voter and Utility database. |
AML Report Failures
Error | When this error could occur |
---|---|
pep_check_failure | If the individual is a known Politically Exposed Person (PEP) they may show up on this AML report. |
media_check_failure | If the individual shows up on Adverse Media they may show up on this AML report. |
watchlist_check_failure | If the individual is on a known government or international watchlist or sanctions list, they may show up on this report. |
Additional Documentation Request for KYC
As part of compliance review, the compliance team may request additional documents to verify a customer.
Type of Document Requested | When do we request this document |
---|---|
Bank Statement from last 90 days | If an issue occurs with validating the Date of Birth (DoB) during KYC (or if a utility or telephone bill cannot be supplied fro address issues). |
Utility or Telephone Bill | If an issue occurs with validating the address during KYC. This includes address verification failures related to Government ID checks or Database Verification checks. |
For Businesses (KYB)
Information Collected
Businesses, will go through a KYB process to verify their identity, and each beneficial owner will need to KYC.
The KYB process includes, but may not be limited to, the following:
- Name of Business and Doing Busines As (DBA)
- EIN Number
- Address
- Phone Number
- Website
- Database Verification
- Validates name, EIN, address
- KYC of Beneficial owners with 25% or more of the business
- All beneficial owners subject to standard KYC checks
- AML screening of business
- Watchlist / sanctions report
- Adverse Media Report
States to understand
Identity Verification State | Description |
---|---|
storing | The identity verification is being created in our system. |
waiting | The identity verification has a Persona Inquiry that has not yet been started by the customer. |
pending | The identity verification has a Persona Inquiry that has been started by the customer but has not yet been completed by them (i.e. they have entered information but not finished the process yet). |
reviewing | The identity verification has been pulled into review and is now with our Compliance team. If the customer fails either the Database Verification or AML Reports the KYC will go into review. |
expired | The identity verification was not completed by the customer in time; another identity verification can be created. |
completed | The identity verification has been completed and has an outcome of passed or failed . |
API Return Codes
- AML Report Failures
media_check_failure
watchlist_check_failure
- Tax Identification Failures (EIN)
database_check_failure
Compliance Review Targets
Below are the targets that our Compliance team targets:
- Wallet Review: 2 business Days
- KYC Reviews: 2 business Days
- KYB Reviews: 3-5 business Days
- Bank IDV Reviews: 2 Business Days
- Doc Request Review: 2 Business Days
- Enhanced Due Diligence Review: Best effort (will vary based on complexity of the case)
Updated 9 days ago