To ensure you remain compliant with local legislation around Know Your Customer (KYC) we need to collect identity verification information for your owner accounts. After you've created a new owner account you will need to complete the KYC requirements that are still outstanding. These requirements are based on the type of owner and whether they are a company or an individual.
Onboarding Sessions
The most efficient and secure way to gather identity verification data from owners is through Onboarding Sessions for Owners. These sessions are designed to manage the collection and identity verification of each owner's information using a user-friendly web form hosted by Yorlet. The web form adapts dynamically according to the information still required. This not only reduces the complexity of managing sensitive data but also ensures that the information is accurate and up-to-date. Onboarding Sessions also provide a comprehensive verification process that includes the collection of identity documents and facial recognition technology to ensure that each owner is who they claim to be. This added level of security helps to protect against identity theft and fraud.
Create an Onboarding Session
Navigate to the owner you'd like to create an Onboarding Session for, then use the Actions menu and select Create onboarding link.
You'll be able to specify whether you'd like to send the link in an email or get the one-time link you can share with the owner. Please note these sessions expire after seven days, but you can always create another one if needed.
Manually collect requirements
If you'd prefer to collect the information manually you can do so by navigating to the owner and using the Actions menu to select Edit information. You can see all the outstanding requirements for the owner by hovering over the Restricted badge.
Required information
The required information is based on the type of owner and whether they are a company or an individual. The following table shows the minimum required information for an owner account.
| Business type | Required information |
|---|---|
| Individual | Email, address, date of birth, first name, and last name |
| Company | Email, company legal name, company registration number, company address, representative's address, representative's date of birth, representative's first name, and representative's last name |
Collecting identity verification information
To collect identity verification information you'll need to upload a copy of the owner's identity document. You can do this by clicking the Upload button next to the Identity document field. You can then upload a copy of the document and click Save.
Handle new requirements becoming due
As local regulations evolve, we might be required to collect additional identity verification information from owners. In these cases we will add these requirements to the eventually_due field, we recommend either manually collecting these details or creating new Onboarding Sessions.