Know Your Business or ‘KYB’ is an important compliance process that ensures the verification of corporate entities or businesses. This is required by the payment industry regulations as a prerequisite to business entities being payout.
The form asks questions about the company's:
- Legal registration
- Owners and registered directors
- Bank accounts
- Expected payment volumes
Who can see the KYB data and documents?
- Access to the KYB form is highly restricted.
- Within Avinode Group, only the Paynode staff persons directly responsible for the KYB process have access to the form (this is a tightly controlled and limited group) along with the compliance teams of our payment solution providers.