How to complete Know Your Business (KYB)?

KYB (Know Your Business) procedures are a critical component in maintaining regulatory compliance, particularly when financial transactions or partnerships are involved. These procedures help verify the legitimacy of a business by collecting detailed information about its structure, operations, and key stakeholders.

As part of the KYB process, you’ll be asked to provide documentation and details related to the following:

• Business operations – A description of your core activities and how your business generates revenue.

• Business contact information – Key contact details, including addresses, phone numbers, and authorized representatives.

• Licensing documentation – Proof of any licenses or permits required to legally operate your business.

• Ultimate Beneficial Owners (UBOs) – Identification of individuals who ultimately own or control the business, typically those with a 25% or greater ownership stake.

• Business registration status – Official documents confirming your company’s legal registration and standing.

Once all required information is submitted, the KYB verification process typically takes anywhere from a few days to several weeks, depending on the complexity of your business structure and the jurisdictions involved.

While your KYB is being reviewed, a Notch specialist will be in touch to help you get your Notch dashboard set up and guide you through any integrations or data imports you need.