Identity verification

“What information do I need to collect about my users?" is the most common question we receive. The answer depends on what your user will be allowed to do within your app.

Know Your Customer & Business

Banking regulations require that financial institutions perform a “Know Your Customer” (KYC) process to verify an individual’s identity before they can open an account. Similarly, “Know Your Business” (KYB) refers to process to verify the identity of a business.

Moov simplifies this process by allowing you to opt users in to different capabilities and providing the data requirements for each capability as it’s requested. When you collect information from your users to fill in their Moov account profile, Moov will automatically start the verification process and provide the result to you.

Other verification requirements

All Moov accounts are checked against OFAC and sanctions lists to ensure they are not forbidden from conducting business in the United States.


Do I need to run my users through KYC again if I am switching to Moov?
Yes. KYC and KYB are requirements pertain to each relationship an account holder has with the sponsor bank, so we are required to perform these checks again.
How long does verification take?
It depends. Automatic verification can take less than a second but if there is an error or the data requires manual review, the process can take days, especially if Moov needs to collect new data from the Moov account.