KYC/KYB

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Are you looking for the answer to a question? We have been asked many questions before. We have listed these questions with the answers. Your question may also be listed.

Key terms are explained in our Glossary section.

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At XXImo, Know Your Customer (KYC) is a due diligence concept that focuses on the verification of legal entities (companies) that purchase the regulated services.

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At XXImo, Know Your Business" (KYB) is a due diligence concept based on compliance requirements that focuses on knowing legal entities as counter-parties. In other words, our KYB process focuses on screening our partners, service providers, suppliers etc.

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As a licensed financial institution, we must comply with anti-money laundering laws to prevent fraud, ensure safe transactions, and fulfill legal obligations.

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Our legal obligation does not stop after onboarding. Throughout your contract, we must keep your information up to date.

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For details on data retention, please refer to our Privacy Statement

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For details on data retention, please refer to our Privacy Statement

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The KYC/KYB team will send questionnaires and emails from official company email addresses. If you are unsure whether a message is genuine, contact our support team to verify.

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Expect your questionnaire within three business days after applying.

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We request company details, UBOs, authorized representatives, source of wealth/funds, and proof of financial stability.

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A company registration number is a unique identifier assigned to a business upon registration in the official national company registry.

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Your company registration number can be found in your country’s business register

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No, the VAT number and company registration number are not the same

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Financial institutions are legally required to identify and verify all company representatives who have the authority to act on behalf of the company.

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Check your company registration extract and signing authority documents.

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Yes. If your company requires jointly authorized representatives to act together, you must declare all individuals who are required to sign jointly.

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If your company has representatives with limited signing authority (e.g., they can sign only for specific transactions or up to a certain amount), our KYC/KYB team may need to verify additional representatives.

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