Know Your Business (KYB) is a crucial process for verifying the identity and legitimacy of businesses in the digital realm. It involves the electronic verification of business details, such as business registration documents, ownership information, and operational history. The global KYB module facilitates faster and more efficient due diligence processes, enabling businesses to onboard partners, suppliers, and customers securely and compliantly. In an era marked by digital transformation and increasing regulatory scrutiny, KYB serves as a cornerstone for trust, transparency, and integrity in business transactions.

This comprehensive user guides shows that when leveraging the KYB module, customers will enhance security, reduce paperwork, and expedite onboarding for businesses and customers alike. This enables a step of KYB validation with the business information and an option of source for this information which includes business name, addresses, city, state, postal code and bank account number.

Integration

Module configuration gives various options to specify different KYB criteria you would like to check (eg. Business name, Business Address, and Business taxID).

Module Configuration

Conditions

eKYB results can be used in conditions to impact further user journey or session result:

• Business Name Match Status; The search match status returned as one of: 'VERIFIED', 'SIMILAR MATCH', 'UNVERIFIED', 'ALTERNATE NAME',
• Tax ID Verification; The tax ID match status returned as one of: 'MATCH', 'NO MATCH'
• Address Verification; The address match status returned as one of: 'VERIFIED', 'APPROXIMATE MATCH', 'UNVERIFIED',
• UBO Name Match; The UBO match status returned as one of: 'VERIFIED', 'APPROXIMATE MATCH', 'UNVERIFIED',

Single Session Dashboard Results

They are available on Single Session view under eKYB tab

Direct API Approach

All module configurations and user data can be forwarded directly in the request for performing an KYB search. This will override existing configuration and data collected about the user.

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API Authentication

All endpoints require authentication headers to be specified as stated in Incode API Documentation

KYB request

POST /omni/externalVerification/ekyb

This endpoint performs an KYB check for the business specified. Note: Endpoint can have empty body {} and in that case information will be pulled from module configuration and session details.

• plugins: must be ["ekyb"]: (mandatory)
• businessName:: (optional) String. Name of the business.
• street: (optional) String. Street name of the business.
• houseNo: (optional) String. Building or house number on the street..
• addressLine2: (optional) String. Address line 2 of the business. (eg. in US apartment or unit number)
• city: (optional) String. City of the business of the business address.
• state: (optional) String. State of the business of the business address..
• postalCode: (optional) String. postalCode formatted based on per-country postalCode basis.
• country: (mandatory) String. Two letter Alpha-2 country code. (eg. US, BR, CN).
• taxId: (mandatory) String. Tax ID of the business (eg. TIN in US, CNPJ in Brazil, Unified Social Credit Code in China)..
• uboNames: (optional) String. Full legal name(s) of Unique Beneficial owners to check against list of legal business associations
• directors: (optional) String. Full legal name(s) of Officers or Directors to check against list of legal business associations

Response

All module configurations and user data can be forwarded directly in the request for performing an eKYB search. This will override existing configuration and data collected about the user.

📘

API Authentication

All endpoints require authentication headers to be specified as stated in Incode API Documentation

Note: Endpoint can have empty body {} and in that case information will be pulled from module configuration and session details.

RESPONSE EXAMPLE
{
    "kyb": [
        {
            "key": "name",
            "sub_label": "Verified"
        },
        {
            "key": "tin",
            "sub_label": "Verified",
            "reasonCodes": [
                "REGNO"
            ]
        },
        {
            "key": "address_verification",
            "sub_label": "Verified"
        },
        {
            "key": "cityMatch",
            "sub_label": "Verified"
        },
        {
            "key": "postalCodeMatch",
            "sub_label": "Verified"
        },
        {
            "key": "registrationStatus",
            "sub_label": "Active"
        },
        {
            "key": "ubo_name_match",
            "sub_label": "Verified",
            "uboName_input": "XXXXX"
        },
        {
            "key": "ubo_name_match",
            "sub_label": "Unverified",
            "uboName_input": "YYYYY"
        },
        {
            "key": "directors_name_match",
            "sub_label": "Verified",
            "directorsName_input": "ZZZZZ"
        },
        {
            "key": "directors_name_match",
            "sub_label": "Unverified",
            "directorsName_input": "AAAAAA"
        }
    ]
}

KYB error responses

Please refer to error response to see conventional HTTP response codes to indicate the success or failure of an API request.

Custom 400 error messages if businessName, taxId, or country is “ “ or null:

message: businessName, taxId, and country are minimum required fields.

KYB analytics

To identify trends within your business verification strategy over time and at a higher level than analyzing each individual business, you can take advantage of our analytics dashboard.

Provisioning

To obtain comprehensive details on the pricing and provisioning of the KYB module, we encourage you to contact our dedicated customer support team. Our experts are on hand to assist you in tailoring our solution precisely to meet your unique requirements, guiding you through the most effective configuration options for your specific use case. This personalized approach ensures that you leverage the full potential of the eKYB module, optimizing your workflows for security and compliance. Our team is committed to providing you with the support and insights needed to make informed decisions, ensuring a seamless integration process.