Know Your Customer (KYC)
Know Your Customer (KYC) is the set of checks a regulated firm performs to verify a customer's identity and assess risk before and during a business relationship. It underpins anti-money-laundering (AML) compliance and helps prevent fraud and financial crime.
KYC combines identity verification (confirming the person is who they claim) with risk assessment and ongoing monitoring. In lending it runs alongside creditworthiness and affordability checks during onboarding.
Done well, KYC is fast and low-friction for genuine customers while catching impersonation and synthetic identities.
Credit Canary builds know your customer into one platform for UK lenders, with the data and decisioning behind it.
Identity verificationSee know your customer in a working platform
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