Know Your Business (KYB) Processes

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Similar to the identification and monitoring applied to individual accounts, corporate accounts also require know your client (KYC) practices. In this article, we will highlight the logistical challenges organisations face when implementing and conducting KYB on its customers.

Though the Know Your Business (KYB) process holds broad comparisons to KYC for individual customers, the details are different. Corporate customers generally have higher transaction volumes and amounts, as well as other higher risk factors.

Organisations must implement the following key processes to implement an effective KYB program which identifies and categorises high risk customers.

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