Understanding the KYC workflow

We’ve already gathered basic data from the investor, added digital signatures, and even extracted passport information using some AI magic. To look at the big picture, the overall flow of account opening will be dependent on your custodian. If they just expect a whole pile of files to be sent via batch transfer, then the flow is mostly yours to decide. However, most will support APIs that would likely require a specific sequence of calls to get an account approved.

Here are some basic steps to expect in a KYC workflow:

1. The investor registers an account
2. The investor enters basic KYC and AML information
3. The investor uploads proof of identity and proof of address
4. The investor completes and signs the documentation
5. Compliance review of items
6. Compliance performs AML checks
7. Compliance sends additional information requests (optional)
8. Investor submits additional information (optional)
9. Account approval (or rejection...