How to build a KYC process

A KYC process aims to understand who the customer is, assess risk using consistent criteria and keep information current throughout the relationship.

Define acceptance criteria

Set required fields separately for people and organizations. Document when legal name, country, representative, beneficial owner and intended use are mandatory.

Connect risk and screening

Sanctions screening should not be detached from the KYC record. Outcome, source scope, time and review decision should be visible in the same customer context.

Establish periodic review

Set frequency according to risk. Data changes, a new potential match or changes in activity may trigger earlier review.

Minimum evidence

• Source and collection time
• Reviewing or approving role
• Risk rationale
• Last screening and review date

Requirements vary by organization and jurisdiction; validate process design with appropriate specialists.