Glossary entry
Know Your Customer (KYC)
Know Your Customer (KYC) is the process of verifying customer identity and assessing potential risks as part of onboarding and ongoing compliance.
Category
Lending technology
Definition
Why KYC matters
- Reduces financial crime and identity fraud risk
- Supports regulatory compliance requirements
- Creates evidence for internal audit and disputes
Operational consideration
KYC isn’t just a checkbox. Exception handling, escalation, and evidence trails determine whether automation works at scale.
Related terms
Identity verificationAnti‑money laundering (AML)Counter‑terrorism financing (CTF)Looking for something else? Browse the fulllending technology glossary.
Looking for something else? Browse the fulllending technology glossary.
Talk to an expert