Glossary
Identity Verification & KYC Glossary
Clear definitions of the terms used in identity verification, KYC, AML and fraud prevention, and how they apply across industries and markets.
Concepts
AI-Based Identity VerificationAI-based identity verification uses computer vision and machine learning to read identity…AML APIAn AML API is a programmatic interface through which a business submits customer data for…AML ServiceAn AML service provides sanctions, PEP, watchlist and adverse-media screening, ongoing…AML VerificationAML verification is the set of checks that confirm a customer does not present an…Biometric AuthenticationBiometric authentication confirms a person's identity using a physical characteristic,…Biometric IdentityBiometric identity is the binding of a verified identity to a person's facial…Blockchain KYCBlockchain KYC refers to Know Your Customer processes for crypto-asset exchanges, wallets…Digital KYCDigital KYC (also called eKYC) is the completion of Know Your Customer identification and…Document AuthenticationDocument authentication is the process of determining whether an identity document is…Document Verification ServicesDocument verification services are hosted capabilities, accessed via API or SDK, that…ID VerificationID verification is the process of confirming that an identity document is genuine and…Identity Document VerificationIdentity document verification is the automated examination of a passport, national ID,…KYC (Know Your Customer)Know Your Customer (KYC) is the process a regulated business uses to establish and verify…KYC AIKYC AI refers to the use of machine learning and computer vision in Know Your Customer…KYC AuthenticationKYC authentication is the re-confirmation of an already verified customer's identity at a…KYC ComplianceKYC compliance means meeting the legal and regulatory obligations to identify, verify and…KYC Compliance CheckA KYC compliance check is a structured review that confirms a customer's identity has…KYC PlatformA KYC platform is software that brings identity document verification, biometrics,…KYC SoftwareKYC software automates the collection, verification and assessment of customer identity…KYC VerificationKYC verification is the step in customer onboarding where a business confirms that the…KYC and AMLKYC and AML are related but distinct: Know Your Customer is the process of identifying…KYC and AML SoftwareKYC and AML software combines customer identity verification with sanctions, PEP and…Know Your Customer Compliance CheckA Know Your Customer compliance check verifies that a regulated business has correctly…Know Your Employee (KYE)Know Your Employee (KYE) applies identity verification and screening to staff and…Online Identity VerificationOnline identity verification confirms who a person is over the internet, using their…Verify Government-Issued Identity DocumentsVerifying government-issued identity documents means authenticating passports, national…Verify Identity DocumentsTo verify identity documents is to confirm, through automated analysis, that a presented…eIDV (Electronic Identity Verification)eIDV, electronic identity verification, is the digital confirmation of a person's…eKYC (Electronic KYC)eKYC is the electronic execution of Know Your Customer checks, in which identity…
By industry
AML for FintechPayment institutions, e-money issuers and lending platforms are subject to AML law in…AML in BankingBanks sit at the centre of anti-money-laundering regimes. Beyond KYC, they must screen…AML in E-commercePlatforms that hold or move seller funds, offer wallets or facilitate cross-border…AML in EducationEducational institutions receive large tuition payments, often from overseas and…AML in Forex and BrokerageBrokers are attractive to launderers because funds can be deposited, traded and withdrawn…AML in HealthcareHealthcare organisations that handle insurance reimbursements, large cash payments or…AML in InsuranceAnti-money-laundering obligations in insurance focus on products with an investment or…KYC for Crypto ExchangesCrypto-asset service providers must verify customers under the same AML frameworks as…KYC for FintechFintechs and digital wallets compete on onboarding speed but carry the same regulatory…KYC in BankingBanks are the original subjects of Know Your Customer rules. Account opening, lending,…KYC in E-commerce and MarketplacesMarketplaces, sharing-economy platforms and payment-enabled apps verify sellers, drivers…KYC in EducationUniversities, online learning platforms and testing bodies verify identity to prevent…KYC in Forex and BrokerageForex, CFD and stock brokers onboard investors globally under regulators such as the FCA,…KYC in HealthcareIn healthcare, knowing your customer means confirming that a patient, insured member or…KYC in InsuranceLife, investment-linked and general insurers are subject to KYC and AML rules because…