What is a KYC provider, and why do crypto businesses need one?
A KYC provider enables crypto and fintech companies to verify the identity of their users in line with AML regulations. It helps meet global compliance standards, reduce fraud risk, and maintain trust with regulators and financial partners.
How does the KYC verification process work for end users?
Users upload an identification document (passport, ID card, or driver's license). The system validates authenticity, cross-checks data consistency, and provides the result directly to the business through a dashboard or API connection.
What documents are accepted for KYC verification?
Valid passports, national ID cards, or driver's licenses. Documents must be unexpired, readable, and of good image quality.
How long does KYC verification take?
The average verification time is 1-10 minutes, depending on the document quality and queue. For API-based integrations, completion may vary between 2 minutes and 6 hours.
What's the difference between KYC and KYB?
KYC (Know Your Customer) verifies individual users. KYB (Know Your Business) checks legal entities - validating registration data, company documents, directors, and UBOs against sanctions and PEP lists.
What data sources are used for sanctions and PEP screening?
Screening relies on official and open databases such as OFAC, UN Security Council, EU Consolidated List, HM Treasury, ESMA, Europol, FBI, Interpol Red Notices, Global PEP, and SECO Switzerland. These lists are updated daily to maintain compliance accuracy.
Does the KYC solution support continuous monitoring?
Yes. Businesses can enable ongoing monitoring for verified users or entities to receive alerts when new matches appear in sanctions or PEP lists.
What integration options are available for KYC verification?
Two methods are available:
- API integration - for full control, branding, and automated workflows.
- iFrame integration - for quick setup without complex development. As part of AMLBot's compliance suite, both options allow crypto businesses to integrate verification seamlessly into their onboarding flow.
Is the provider compliant with FATF and EU AML directives?
Yes. AMLBot's KYC and KYB services follow FATF recommendations and EU AML Directives (5AMLD and 6AMLD), ensuring regulatory alignment for global crypto businesses.
What reports and audit trails are available for compliance teams?
Verification reports are available in PDF and CSV formats and include timestamps, verification logs, and audit data - all accessible through the AMLBot dashboard or via API.
How to choose the best KYC provider for a crypto exchange or wallet project?
When evaluating providers, focus on API reliability, data coverage, verification speed, monitoring options, and compliance scope. AMLBot combines these features in one infrastructure-level solution, helping crypto businesses stay compliant without slowing down onboarding.
How does KYC automation through API improve user onboarding speed?
Automated KYC checks reduce manual review, deliver faster results, and minimize user drop-off during registration. AMLBot's KYC API enables exchanges and payment platforms to verify users in real time while maintaining global AML compliance.