Customer Onboarding

Learn about onboarding customers and running KYC / KYB checks

Modern Treasury can help you verify customers, reducing fraud (e.g. stolen and synthetic identities, fraud rings) and helping you comply with BSA / AML regulations. Modern Treasury supports onboarding of both individuals with Know Your Customer (KYC) and businesses with Know Your Business (KYB) checks.

Verifications are performed using a variety of data signals, enabling you to make accurate decisions about the validity of a customer's identity. A customer can be screened against sanctions watchlists at onboarding, and on a continuous basis afterwards.

Modern Treasury's rule engine and decisioning settings help you automate decisioning to reduce operational costs and improve onboarding conversion.

There are two options for integrating with KYC / KYB checks. You can embed a pre-built onboarding UI in your application to quickly build an onboarding flow without needing to touch sensitive data like social security and bank account numbers. You can also send data via API to have full control over the onboarding experience. If an onboarding is approved, a Counterparty is created.

The following guides describe KYC and KYB.