How to Get KYC Verified Online: A 7-Step Process


Banks, online stores and other digital businesses need to know who their customers are. It’s essential for preventing fraud and identity theft.

However, it’s not an easy task. That’s why a KYC verification process is so important. By KYC verifying customers, businesses can meet KYC compliance and understand exactly who they’re doing business with.

What’s the process?

For customers and businesses, KYC verification typically requires software. Using this software, the business can then KYC verify customers and ensure they’re meeting compliance standards. This guide explores everything about KYC verification software and processes.

KYC Verification

Understanding KYC Verification

KYC stands for “Know Your Customer,” and it’s used in industries like banking, finance, ecommerce and cryptocurrency. The idea is simple: KYC verification’s main goal is to make absolutely sure that the people using a service are who they say they are.

KYC helps prevent illegal activities like money laundering, identity theft, and fraud.

Think of KYC as a security guard for businesses. It makes sure that the people or companies they deal with are real and trustworthy, while also keeping away bad actors who might try to do harm.

This thorough process isn’t just about checking documents. It involves closely looking at how customers behave, comparing their information to lists of potential concerns, and sometimes using advanced biometric methods, like fingerprints, to be absolutely sure about their identity.

KYC Verification Software

KYC software is a game-changer for businesses looking to streamline their customer verification processes.

The right software helps businesses quickly and accurately check customers by using things like their ID, fingerprint, and other information all together. This makes the process fast and reliable. A few key methods used by KYC software include:

  • Document Verification:

    KYC verification software makes it possible to verify customer’s IDs, passports, and bills. These systems verify their authenticity. How? It carefully examines documents to find any mistakes or differences, using technologies like character recognition.

    Additionally, digital document verification systems look for signs of tampering or forgery. And they verify the documents’ expiration dates, ensuring that they are valid and unaltered. This meticulous document scrutiny serves as a foundation for establishing the validity of a customer’s identity.

  • Biometric Verification:

    In the KYC landscape, biometrics, encompassing fingerprint and facial recognition, have become indispensable. KYC verification software seamlessly integrates biometric data provided by customers with their corresponding ID documents.

    By doing so, it effectively confirms the individual’s identity through a rigorous matching process. The uniqueness of biometric data ensures a high level of security, making it an integral and reliable facet of KYC verification.

  • Watchlist Screening:

    KYC software’s watchlist screening functionality acts as a critical safeguard. It subjects customers to screening against various watchlists, including sanctions and politically exposed persons (PEP) lists.

    This ensures that high-risk individuals or entities are swiftly identified and flagged for further scrutiny. By doing so, businesses can prevent interactions with individuals or entities involved in illicit activities or those of significant political influence, mitigating potential risks and ensuring compliance.

  • Data Analysis:

    Advanced KYC software goes beyond traditional verification methods by conducting an in-depth analysis of a customer’s digital footprint. This entails assessing their online presence and behavior.

    By examining a customer’s interactions, activities, and associations online, the software assesses the level of risk associated with them. This comprehensive analysis equips businesses with valuable insights, allowing them to make informed decisions and tailor their risk management strategies accordingly.

KYC Verification API

Using a KYC Verification API to Scan Docs in Real-Time

For businesses looking to integrate KYC verification into their existing systems, KYC verification APIs offer a convenient solution. They allow for seamless verification processes without the need for manual data entry or document submission.

  1. Easy Integration:

    KYC verification APIs seamlessly integrate with mobile apps, websites, and backend systems. This integration simplifies the verification process by automating tasks that would otherwise demand manual effort.

    It ensures that businesses can effortlessly incorporate KYC verification into their existing infrastructure, saving time and resources while maintaining the accuracy of customer checks.

  2. Real-Time Verification:

    KYC verification APIs offer immediate results, enabling businesses to swiftly assess and onboard customers. This real-time functionality is pivotal for operational efficiency, as it minimizes delays and enhances the overall customer experience. With quick responses, businesses can make informed decisions on customer onboarding, bolstering security and trust.

  3. Customization:

    KYC verification APIs empower businesses to tailor their verification processes to meet unique requirements. Firms can specify the level of verification needed and the types of documents accepted, ensuring flexibility and regulatory compliance. Customization enables businesses to align KYC procedures with their specific industry, risk tolerance, and customer base.

  4. Scalability:

    As businesses expand, their KYC verification demands inevitably increase. KYC verification APIs are designed to scale seamlessly with business growth.

    This ensures that the verification process remains efficient and effective, even as customer numbers surge. Scalability not only supports growth but also guarantees ongoing compliance and security, regardless of the company’s size or complexity.

eKYC (Electronic KYC)

It is a digital variant of the traditional KYC process, designed to offer fast and convenient onboarding for customers while maintaining robust security measures.

  1. Remote Verification:

    eKYC allows customers to complete the verification process remotely, eliminating the need for physical visits to a bank or institution.

  2. Mobile-Friendly:

    Customers can complete eKYC using their smartphones, making it accessible and user-friendly.

  3. Biometric Authentication:

    eKYC often incorporates biometric authentication methods, such as facial recognition, to enhance security.

How to Get KYC Verified Online: 7 Steps

How to Get KYC Verified Online: 7 Steps

Now that we’ve explored the tools and technologies involved in KYC verification, let’s discuss how individuals can get KYC verified online.

  1. Select the Service:

    Commence by choosing the specific service or platform that mandates KYC verification. Whether it’s a bank, cryptocurrency exchange, or e-commerce platform, identifying the service is the initial step in the KYC process.

  2. Account Creation:

    Register on the chosen platform by providing essential personal details, including a customer’s full name, date of birth, and contact information. This foundational step establishes their presence on the platform.

  3. Document Submission:

    Upload vital documents such as government-issued ID cards, passports, or driver’s licenses. Ensure document clarity and authenticity to expedite the verification process.

  4. Additional Verification:

    Depending on the platform’s requirements, customers may need to undertake supplementary verification steps. These could include taking a selfie or responding to security queries to fortify identity confirmation.

  5. Waiting for Review:

    The platform’s verification team meticulously reviews the customer’s submitted documents and data. While approval timelines vary, many platforms aim to complete this process within hours to a few days.

  6. Verification Confirmation:

    Upon successful KYC verification, customers will receive confirmation from the platform. This confirmation signifies the validation of their identity.

  7. Access Granted:

    With KYC verification achieved, customers gain unhindered access to the platform’s services. This pivotal milestone empowers them to confidently engage with the platform’s offerings, knowing that their identity has been securely validated.

Having trouble getting verified? See our guide to common reasons online verification fails and how to solve these issues.

Wrapping Up

KYC verification is a critical component of online business operations, ensuring security, compliance, and customer trust. KYC verification software and APIs have revolutionized the way businesses verify their customers’ identities, making the process more efficient and secure.

Additionally, eKYC provides a convenient option for individuals seeking to get KYC verified online. By following the steps outlined today, businesses and individuals alike can navigate the KYC verification process with confidence, ultimately contributing to a safer and more trustworthy online environment.

If you’re ready to get started today with FTx Identity, be sure to touch base with us to schedule a consultation and experience a demo!

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