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KYC / KYB
Know Your Customer (KYC) or Know Your Business (KYB) refers to the verification of your users' identity. Part of this process consists in submitting documents to Treezor for validation, which can be done from the Dashboard.
Reading – Know Your Customer
Learn more about the user verification process with the dedicated KYC section.
Accessing user KYC/KYB information
You may access KYC information for a specific user in the Profiles Board view, KYC tab once a user is selected (learn more about accessing user information). The tab appears only for users who can go through verification.
Information – The tab changes depending on the type of user
The name of the tab and the details depend on the user type. For the sake of convenience, this article uses mostly the term KYC rather than KYB.
The KYC / KYB tab is made up of the following sections:
- Global KYC Status – Information about the KYC Status of the selected user, including additional vigilance measures.
- User information – Main declarative data about the user.
- Verification details – Declarative data necessary for user verification, such as nationality, situation, or tax residence for instance.
- Documents section – List of documents uploaded for the user, for you to review.
In the upper right corner, the "Submit KYC to Treezor" button allows you to request a KYC review by Treezor. This button is only enabled once the required data is provided.
Global KYC Status
The Global KYC Status section provides information about the KYC Status of the selected user.
KYC Status
On the left-hand side, the KYC Status indicates the overall status of the user verification.
The status can be one of the following values:
| Status | Description |
|---|---|
| Not required | The user is not subject to verification. |
| Optional | The user doesn't need to go through verification unless they reach Electronic Money Limits. |
| To submit to Treezor | The necessary declarative data is filled in; you can now request verification from Treezor. Ensure all documents have been uploaded and pre-reviewed before submitting. |
| Pending Treezor | Treezor Compliance team is reviewing the user. |
| To review | Treezor rejected the user (e.g., missing data). Complete user data and documents before resubmitting. |
| To check | Treezor triggered a periodical or exceptional review. Update user data and documents before requesting a new review. |
| Validated | Treezor has verified the user and deemed them fit to use the financial services. |
| Refused | Treezor has verified the user and deemed them unfit to use the financial services. This status is definitive. |
Clicking on the "See details" button opens the KYC History popup which contains:
- Date and time at which Treezor Compliance team reviewed the user
- Comments and note from Treezor compliance team
- KYC Level set during the verification.
- KYC Review status set during the verification.
Additional vigilance measure
Additional vigilance measures might be necessary to complete the user verification process.
It consists of a received SEPA Credit Transfer to the user wallet. Status can be:
- None – No SCTR has been initiated yet.
- Pending – An SCTR has been initiated, but not validated yet.
- Settled – The SCTR is validated, completing the additional vigilance measure.
Once the transfer "Settled", the vigilance measure is complete and the user will be able to use Treezor financial services when verified.
When clicking on the "See details" button, the Additional vigilance measure popup is displayed, providing the list of SCT payins made with the following key attributes: Operation date, status, amount, emitter, IBAN, and BIC.
User information sections
You can view user main information which are necessary for the KYC/KYB review in the User information and Verification details sections.
If you have the relevant rights, you can update existing user data.
Make sure the provided data is in accordance with the Compliance rules in terms of KYC.
Manage user tax residence
When declaring the tax residence, you need to provide the country and Tax Identification Number (TIN) of the user (optional for all the countries except for US taxpayers).
It is possible to add or edit the user Tax Residence in the Verification details section, by clicking on the dedicated "Edit" button.
Click on the "Add Tax Residence" button to declare a new tax residence.
Fill in the displayed fields with the relevant country and Tax Identification Number.
"Save Changes" to complete your new declaration.
Documents section
Documents are evidence required by Treezor to ensure Users are who they claim to be.
During the KYC/B review, Treezor compares documents to the user’s declarative data. The user is verified if the documents are in order (as well as any other verification requirement).
This section lists documents uploaded for the KYC Review. You must pre-review the documents before requesting the KYC review from Treezor.
Documents list
Documents are displayed if:
- The end user uploaded documents from your application
- Your Dashboard Users uploaded a document for your end users
Each document has a menu icon that provides access to the following commands (depending on the status of the document):
| Action | Description |
|---|---|
| Review document | Opens the Review document popup, allowing you to validate or refuse the document. |
| See document details | Opens the read-only version of the Review document popup, allowing you to validate or refuse the document. |
| Delete document | Deletes the document. |
Also, clicking on the arrow displays the document in a new browser tab or downloads it (depending on the format).
Document statuses
Documents can have one of the following statuses. Please note every time "you" is indicated, the name of your company will be displayed instead.
| Status | Description |
|---|---|
| To review (you) | Waiting for pre-review from your teams. |
| Reviewed (you) | The document has been pre-reviewed (validated) by your teams, but at least another document from this use is still to be pre-reviewed. |
| Reviewed, to submit | All the documents have been pre-reviewed by your teams. They will be sent to Treezor for validation when requesting the KYC review. |
| Pending validation | The documents are waiting for Treezor team's validation. |
| Validated (Treezor) | The document has been validated by Treezor as part of the KYC/KYB review process. |
| Refused (you) | Your team refused the document during the pre-review process. |
| Refused (Treezor) | The document was rejected by Treezor as part of the KYC/KYB review process. |
| Canceled | The document was deleted by the end user or your teams, or was subject to a technical issue. |
Review document popup
The Review document popup displays a preview of the uploaded document on the left-hand side, and details of the document on the right.
In order to review a document:
- Select the relevant status in the picklist.
- Add a comment explaining your choice.
- Click on the enabled "Submit" button.
Uploading KYC Documents
Usually, end users are the ones uploading their KYC documents through your application. In some cases, however, your Dashboard Users might upload documents for the end users.
They can do so by clicking on the "Add KYC Document" button to open the Upload KYC document popup.
From there, you can select a document type, then upload the file while abiding by the requested format and weight.
If the upload is successful, the document appears in the Documents section.
Requesting a KYC review by Treezor
When all the necessary documents have been uploaded and properly pre-reviewed, you can request a review from Treezor.
To do so, click on the "Submit KYC to Treezor" button located in the upper right corner of the Profiles Board view, KYC tab.
Information – In Production, verification is done by Treezor Compliance team
Verification usually takes about 24h, but may take up to 48h or more (working days only).