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Documentation Index

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Know Your Customer (KYC) verification ensures compliance with financial regulations and helps prevent fraud. This guide covers the KYC process and how to manage customer verification.

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What is KYC?

KYC (Know Your Customer) is a process that verifies the identity of customers before they can use financial services. It helps ensure compliance with anti-money laundering (AML) regulations and prevents fraud.

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KYC Requirements

KYC verification typically requires:
  • Identity Verification - Government-issued ID (passport, driver’s license, national ID)
  • Address Verification - Proof of address (utility bill, bank statement)
  • Biometric Verification - In some cases, biometric data may be required

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Customer Status and KYC

Customer status reflects their KYC verification state:
  • Approval Pending - Customer created but KYC not yet verified
  • Active - KYC verified, customer can use services
  • Locked - KYC verification failed or account locked
  • Restricted - Customer has restrictions due to KYC issues

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Checking Customer Status

Monitor customer KYC status: 
curl -X GET https://api.platnova.com/v1/customers/{customer_id} \
  -H "X-API-KEY: YOUR_API_KEY"
The response includes the customer’s current status and any KYC-related information.

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KYC Verification Process

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Step 1: Customer Creation

Create the customer with basic information: 
curl -X POST https://api.platnova.com/v1/customers \
  -H "X-API-KEY: YOUR_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{
    "first_name": "John",
    "last_name": "Doe",
    "email": "[email protected]",
    "phone": "+1234567890",
    "date_of_birth": "1990-05-15",
    "country_code": "US"
  }'

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Step 2: Submit KYC Documents

Include identity documents in the documents array on create, add them with Update customer, or submit through your dashboard. Verification may be automatic or manual depending on your configuration.

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Step 3: Verification Complete

Once verified, the customer status changes to “active” and they can receive cards, virtual accounts, and other services.

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KYC Compliance

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Why KYC Matters

  • Regulatory Compliance - Required by financial regulations
  • Fraud Prevention - Helps prevent identity theft and fraud
  • Risk Management - Reduces risk of money laundering and other illegal activities

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Best Practices

  • Collect all required KYC information during onboarding
  • Verify documents promptly to avoid delays
  • Keep KYC documents secure and confidential
  • Monitor customer status regularly
  • Update KYC information when customer details change

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Handling KYC Failures

If KYC verification fails:
  1. Customer status may change to “locked” or “restricted”
  2. Review the reason for failure
  3. Request additional documentation if needed
  4. Resubmit for verification

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Next Steps