Know Your Business (or KYB) is a due diligence procedure aimed at establishing the structure, ownership, purpose and activities of a given company.

The Sumsub KYB solution is aiming to help customers to verify counterparties, reduce risks of working with fraudsters, and save from getting fines from regulators.

KYB verification measures are key components of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. They are also legally required by the Financial Action Task Force (FATF), regional regulations such as the 5th and 6th EU AML directives, and various national AML laws.

Verifying business in-house or having several KYC and KYB services can be a burden. Delegate all compliance tasks to Sumsub and get them done 70% faster. We automate the most complicated steps to get you results in hours instead of weeks. Cut costs and scale globally with full compliance using Sumsub’s KYB solution.

Proceed with API methods for KYB

In the Business Verification section, you can find specific API methods to use when working with company applicants within the Sumsub system. Still, there are lots of endpoints that can be used to work both with individual and company applicants.

For example, you can refer to the following methods when you need to:

• Create a company applicant
• Import a company profile to the Sumsub system
• Add a document to the company profile
• Request a company applicant check
• Obtain data from the company applicant profile
• Get the company verification status
• Clarify rejection reasons
• Reset or deactivate a company profile

For more information about particular endpoints, look through the Applicants section of our API documentation.