Goal:
Integrate KYC (Know your Customer) and KYB (Know your Business) checks into the filplus.storage page, more streamlined client experience
KYC includes:
- An individual document review and liveliness test
KYB includes:
- Certificate Of Incorporation
- Memorandum Of Association
- Register Of UBOs
- Corporate Bank Statement
- Anti-Money Laundering Screening (AML)
- Corporate Officer KYC
Progress to date:
As part of E-Fil+ Pilot starting Oct 2022, we’ve been testing two main KYB products:
- Diro.io - see E-Fil LINK
- Synaps.io - see E-Fil LINK
To date, we’ve had four clients pass KYB for Diro and three pass for Synaps
Overall, in the pilot, we’ve found Synaps to be a more complete solution because it:
- covers all locations globally
- provides a solution that allows the client to pay the vendor directly, not via a central medium like Protocol Labs
Next Milestone:
We’ll start with single provider, Synaps, integrate both a KYC check and a separate KYB check through AU (developer of filplus.storage page) - Timeline April 2023
Notes:
How to cover costs and decrease malicious actor threat vector?
How much international coverage do services have?
Prioritizing KYB to validate that actor is representative of enterprise, higher confidence in data-ownership
