KYC/KYB compliance manager
Onboarding operations lead
BSA/AML compliance officer
Relationship manager
Risk management director
Compliance analyst
This process is used when a business entity applies to open an account, establish a commercial relationship, or access services that require identity verification under BSA/AML, CDD, and beneficial ownership requirements. It applies when the entity’s legal registration, business activity, ownership structure, authorized signers, and risk profile must be verified and assessed before the relationship is approved. Ideal for banks, payment processors, fintech platforms, marketplaces, and any organization onboarding business customers under KYB and AML compliance obligations.
The KYB verification process typically involves onboarding specialists who collect business documentation, KYC/KYB analysts who verify the entity’s registration, ownership, and risk profile, compliance officers who review high-risk entities and approve the relationship, relationship managers who manage the business customer interaction, and the business entity that provides required documentation and disclosures.
Verified business identity with registration, legal structure, and operational legitimacy confirmed through authoritative sources. Identified beneficial owners verified in compliance with CDD and beneficial ownership requirements. Risk-screened entity with the business and its principals checked against sanctions, PEP, and adverse media databases. Risk-rated relationship with the entity assigned a risk rating that determines the level of ongoing monitoring. Regulatory-compliant onboarding documented to examination standards with all verification and screening records preserved.
Your version of this process may vary based on roles, systems, data, and approval paths. Moxo’s flow builder can be configured with AI agents, conditional branching, dynamic data references, and sophisticated logic to match how your organization runs this workflow. The steps below illustrate one example.
Business information collection
The process begins when the business entity provides its information through an application or onboarding form, including the legal name, registration number, jurisdiction of incorporation, business address, nature of business, and authorized representatives. An AI Agent can assist by verifying the application for completeness and pre-populating known entity data from commercial databases.
Entity verification
The KYB analyst verifies the entity’s legal existence and registration through government corporate registries, commercial databases, or direct documentation. Verification confirms the legal name, registration status, jurisdiction, registered agent, and business type. Any discrepancies between the application and verification sources are investigated.
Beneficial ownership identification and verification
The entity provides beneficial ownership information identifying all individuals who own 25% or more or exercise significant management control. Each beneficial owner’s identity is verified through government-issued identification and independent verification sources, consistent with CDD requirements.
Screening and risk assessment
The entity, its beneficial owners, and authorized signers are screened against sanctions lists, PEP databases, and adverse media sources. The KYB analyst assesses the entity’s overall risk based on jurisdiction, industry, business activity, ownership complexity, and screening results. An AI Agent may automate the screening and flag matches or elevated risk indicators for analyst review.
Relationship approval and risk rating
Based on the verification and risk assessment, the entity is approved or escalated for enhanced due diligence. Standard-risk entities are approved at the analyst level. High-risk entities require senior compliance review and approval. The entity is assigned a risk rating that determines the level of ongoing monitoring.
Ongoing monitoring and periodic review
Approved business entities are entered into the ongoing monitoring program. Continuous screening monitors for sanctions changes, adverse media, and material ownership or business changes. Periodic reviews refresh the entity’s KYB profile at intervals determined by the risk rating.
This process commonly relies on inputs such as the business application, corporate registration documents, beneficial ownership certification, government-issued identification for owners, and screening results. It may be triggered by a new business account application or a periodic KYB review. Connected systems often include KYC/KYB platforms like Fenergo, Jumio, or Onfido, sanctions screening tools like Refinitiv or Dow Jones, commercial registries, and the organization’s core platform or CRM.
Key decision points include whether the entity’s registration and legal existence are verified through authoritative sources, whether all beneficial owners meeting the threshold are identified and verified, whether screening results reveal sanctions, PEP, or adverse media exposure requiring enhanced due diligence, and what risk rating is appropriate for the entity based on the overall assessment.
Entity registration not verified through an authoritative source, relying solely on self-reported documentation. Beneficial ownership not fully identified, missing individuals above the threshold due to complex or layered ownership structures. Screening not conducted on all beneficial owners and authorized signers, leaving sanctions or PEP exposure undetected. Risk rating not assigned or not calibrated to the entity’s actual risk profile, resulting in inappropriate monitoring levels. Periodic reviews not conducted, allowing the entity’s risk profile to change without reassessment.
Orchestrates KYB verification from application through approval and ongoing monitoring across onboarding, compliance, the business entity, and verification sources in a single coordinated flow.
Engages business entities within the workflow for application submission, document collection, and beneficial ownership disclosure, keeping all interactions tracked and secure.
AI Agents verify application completeness, run automated screening against sanctions, PEP, and adverse media databases, and flag matches for analyst review.
Manages beneficial ownership verification within the workflow, including identity verification for each disclosed owner.
Connects to KYC/KYB platforms, screening tools, and commercial registries like Fenergo, Refinitiv, and government corporate registries so verification data flows into the entity’s compliance record.
Tracks ongoing monitoring and periodic review schedules and preserves the complete KYB record for regulatory examination readiness.
