Here are some best practices to help ensure successful results when using InvestNext's KYC (Know Your Customer) and KYB (Know Your Business).

Which contact will be used for KYC/KYB verification?

It is important to note that KYC/KYB verification is performed on the account level. Each contact can have multiple investing accounts. Make sure that the primary contact information is correct and linked to the correct investing account. Each time a new investing account is used, the investor will be required to go through the KYC/KYB verification for it.

During the KYC/KYB verification process, which is more efficient to use (desktop or mobile)?

You can use either a desktop or mobile device! When it comes to ease of use, using the mobile device option can be more efficient since it allows you to quickly scan and upload a photo of the required documents for verification and utilize a camera for the Selfie portion.

Which documents are preferred for KYC verification?

The preferred documents include a government-issued ID card, passport, residence permit, or driver’s license. Ensure that uploaded documents are not edited, and that photo IDs are in color. Only upload authentic, current photographs, and avoid using screenshots.

Which documents and details are needed for KYB verification?

You’ll need to provide your Business Details (Name, State, and Country) and Beneficial Owners (natural persons/individuals). The preferred documents include an EIN Letter, Articles of Incorporation, DBA Documents, and any other applicable documents. The provided documents must, in any event, contain the company name, registration number, legal form (type), address, and the date of incorporation.

Selfie Verification Tips:

To reduce any false positives for KYC/AML verification:

We recommend completing the KYC/AML process yourself first as a test to ensure you have full visibility into the investor experience. Only upload real, current photographs of any ID documents. Do not upload screenshots. It is typically recommended to complete KYC/AML verification on a mobile device due to the ease of use. You can choose to continue on a mobile or desktop device during the first step of KYC/AML verification.

To reduce any false positives for KYB/AML verification:

For Business Details: If your company can’t be located after providing your Business Details (Name, State, and Country), double-check that you are entering your Business Name exactly as it's registered and that you haven’t accidentally selected the incorrect State or Country in the drop-down menus. You can also choose to manually enter this data by providing your Company Name, Country, Registration Number, and Legal Address.

For Beneficial Owners: Ensure that you are entering the individual(s) information correctly. A typical issue could be entering the Date of Birth incorrectly.

Summary

By following these best practices, you can establish an efficient, compliant, and user-friendly KYC and KYB verification process that helps protect your business and creates a seamless experience for investors.

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