Let's review what Know Your Customer (KYC) is and why Viably asks you to complete this process.
KYC, or Know Your Customer, is a regulatory requirement. Financial institutions or companies involved in the fintech space, like Viably, require their customers fulfill a KYC process prior to opening a business account.
When applying for funding with Viably, you are required to complete Viably's user verification (KYC) as well as your business verification (KYB). KYC is essentially a verification process that helps us put a face and name to our customers to prevent online fraud and financial crimes, while maintaining compliance with anti-money laundering (AML) regulations.
Completing Viably's KYC helps us verify who you say you are during the funding application, and also helps unlock your free Viably Business account!
Viably offers funding and an all-in-one digital banking platform for eCommerce sellers, including:
- Business checking account and virtual cards
- Automation of your back-office tasks
- Sales planning tool to forecast cash flow needs
- Integrations with your other ecommerce tools