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
• Shareholders Registry
• Bank Statement
• Balance Sheet
• Tax Certificate
• Anti-Money Laundering (AML) Policy
• Proof of Address
• Flow of Funds
• Additional optional documents: Anti-Bribery Policy, Customer Due Diligence (CDD) Policy, Power of Attorney, Company Structure Chart, Sanctions Screening Policy, Directors Registry, Operating License.

For Non-Financial Businesses:

• Business Registration Document
• Shareholders Registry
• Bank Statement
• Balance Sheet
• Tax Certificate
• Proof of Address
• Flow of Funds
• Additional optional documents: Power of Attorney, Company Structure Chart, Directors Registry

Steps to Complete KYB on Aiprise

1. Company Infosome text
   • Provide your company’s legal name, business entity number, and tax ID.
2. Company Addresssome text
   • Enter the registered address of your company.
3. Company Questionnairesome text
   • Answer questions about your business operations, activities, and compliance practices.
4. Beneficial Owners, Directors, and Legal Representativesome text
   • Submit information about all UBOs, directors, and legal representatives.
   • Upload government-issued IDs (front and back) for each.
5. Related Companiessome text
   • Disclose any companies related to your business, such as subsidiaries or parent companies.
6. Documentssome text
   • Upload required documents based on your business type (see the next section for specifics).
7. Risk Questionnairesome text
   • Complete a risk assessment questionnaire to ensure compliance with regulatory requirements.
8. Consentsome text
   • 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.