KYB (Know Your Business) Explained

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KYB, or Know Your Business, is the process of verifying the identity and legitimacy of corporate clients, vendors, or partners. Like KYC for individuals, KYB is essential for compliance with anti-money laundering (AML) regulations and for mitigating operational and reputational risk.

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The process involves validating a company’s registration documents, ownership structure, beneficial owners, and business activities. It may also include screening against sanctions lists, monitoring transaction history, and assessing risk exposure. KYB ensures that businesses are not inadvertently facilitating fraud, money laundering, or other illegal activities.

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Monavate supports KYB by automating verification, document collection, and ongoing monitoring for corporate accounts. This ensures that fintechs and businesses maintain compliance while onboarding partners quickly and securely. With integrated reporting and risk scoring, Monavate makes KYB a seamless part of business operations, reducing friction while ensuring regulatory adherence.

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