How to submit KYB

To start transacting on Conduit’s platform, completing your Know Your Business (KYB) verification is mandatory. This process ensures compliance with international regulations and helps us verify your business’s legitimacy. For this, we use Aiprise, a secure and efficient platform specifically designed to handle KYB submissions.

Aiprise is built with advanced security measures to protect your sensitive information. We understand the importance of knowing where your data is going, and Aiprise guarantees a safe and streamlined experience. 

Why We Use Aiprise

Aiprise is a trusted platform for managing KYB verifications, known for:

• Robust Security: All information is encrypted and stored securely, ensuring your data is protected at all times.
• Efficiency: The platform simplifies the KYB process, reducing delays and complications.
• Compliance Standards: Aiprise is fully compliant with global regulations, ensuring a seamless process that meets all legal requirements.

Types of KYB Processes

At Conduit, we manage two types of KYB processes through Aiprise:

1. AML-Regulated Businesses: Require stricter compliance, additional documentation (e.g., AML policies, flow of funds), and more in-depth questionnaires to meet regulatory standards.
2. Non-Financial Businesses: Focus on verifying legitimacy and ownership structure, with a faster process and fewer required documents.

Documents Required

For AML-Regulated Businesses:

• Business Registration Document
• Shareholder Registry
• 3 Bank Statements (30/60/90 days)
• Tax Certificate
• Organizational Chart (if owned by another company)
• Flow of Funds
• Directors Registry (if applicable)
• Financial Statements (Audited, if applicable; if not audited, management prepared with a reason as to why no audited financials are available.
• Articles of Incorporation
• Proof of Registered Address
• Proof of Physical Address
• Authorized to Act on Behalf of the Company (Legal Representative)
• Independent AML or Compliance Audit Report
• Supporting documentation for institutional investors (if they own more than 5%)
• Proof of Regulatory Authorization or Licenses (if regulated)

For Non-Financial Businesses:

• Business Registration Document
• Shareholder Registry
• 3 Bank Statements (30/60/90 days)
• Tax Certificate
• Organizational Chart (if owned by another company)
• Flow of Funds
• Directors Registry (if applicable)
• Financial Statements (Audited, if applicable; if not audited, management prepared with a reason as to why no audited financials are available.
• Articles of Incorporation
• Proof of Registered Address
• Proof of Physical Address
• Authorized to Act on Behalf of the Company (Legal Representative)
• Supporting documentation for institutional investors (if they own more than 5%)
• Proof of Regulatory Authorization or Licenses (if regulated)
• AML Audit Program (If Applicable)

Steps to Complete KYB on Aiprise

1. Company Info
   
   • Provide your company’s legal name, business entity number, and tax ID.
     
     
2. Company Address
   
   • Enter the address of your company.
     
     
3. Registered Address
   
   • Enter the registered address of your company.
     
     
4. Company Classification
   
   • Answer questions about your business and compliance practices.
     
     
5. Business Activity & Risk Profile
   
   • Describe your business activities.
     
     
6. Beneficial Owners, Directors, and Legal Representative
   
   • Submit information about all UBOs, directors, and legal representatives.
     
   • Upload government-issued IDs (front and back) for each.
     
     
7. Related Companies
   
   • Disclose any companies related to your business, such as subsidiaries or parent companies.
     
     
8. Documents
   
   • Upload required documents based on your business type (see the next section for specifics).
     
     
9. Consent
   
   • Review and accept the terms and conditions to complete your submission.

‍

What You Can Do After Submission

Track Your Submission: Use the Aiprise platform to monitor the status of your KYB application in real time.

Respond to Notifications: If additional documents or clarifications are required, you will receive automated alerts to ensure your application stays on track.

Ensure Updates: Check for any updates or confirmations directly through Aiprise to finalize the process efficiently.

‍

‍