KYB Verification (Know Your Business)

KYB verification confirms the legitimacy of business entities investing through the platform. When an investor uses an entity-type investment profile (LLC, Corporation, Partnership, or Trust), the entity itself must be verified in addition to the individual controlling it.

How KYB Relates to KYC

KYB and KYC work together:

• KYC verifies the individual person -- their personal identity
• KYB verifies the business entity -- the LLC, corporation, etc.

When an investor invests through an entity, they need:

1. Their personal identity verified (KYC) -- who is this person?
2. The entity verified (KYB) -- is this a real business, and does this person control it?

The person who manages the entity is called the control person -- the individual who has authority to act on behalf of the entity.

KYB Statuses

Investment Profile statuses function as KYB statuses for entity profiles:

What Information Is Checked

For entity verification, the compliance provider checks:

• Entity name -- the legal name of the LLC, corporation, etc.
• Entity registration -- that the entity is legally registered and in good standing
• Control person -- that the individual claiming to represent the entity is authorized
• Entity type -- that the entity type matches what was declared (LLC, Corp, etc.)

When KYB Is Triggered

KYB follows the same pattern as KYC -- it's triggered by the readiness evaluation when an investment is committed through an entity profile:

1. Investor creates an entity-type investment profile (LLC, etc.)
2. Investor commits to an investment using that profile
3. The readiness evaluation detects the entity profile
4. KYB submission is triggered
5. The compliance provider verifies the entity

Entity Types That Require KYB

What Admins Should Know

• KYB can take longer than KYC -- entity verification involves more checks and may require additional documentation from the compliance provider.
• Control person matters -- the individual linked to the entity profile must be authorized. If verification fails, it might be because the control person information doesn't match entity records.
• Entity profiles are reusable -- once an entity profile is verified, it can be used for multiple investments without re-verification.
• Rejected entities need investigation -- unlike KYC rejections (which might be typos), KYB rejections often indicate more serious issues with entity documentation or status. Work with the investor to resolve.