Know Your Business (KYB) Submission Guidelines | Conduit Guides

Know Your Business (KYB) Submission Guidelines

To access the full range of Conduit’s functionalities, it is necessary to complete your company’s verification process, known as KYB (Know Your Business).

This is a fundamental regulatory requirement that helps us comply with global anti-money laundering (AML) standards and ensures greater security for all parties involved in the transactions.

It is a process widely used by financial institutions, fintechs, and payment providers to verify the identity and legitimacy of business clients before allowing them to use their services.

How is the KYB process conducted at Conduit?

At Conduit, we use the AiPrise platform, a global company specialized in compliance automation and corporate verification solutions (KYB and KYC), operating with full security and in compliance with international regulatory standards.

This solution allows us to carry out complete verification of partner companies and their clients, including the analysis of corporate structure, identification of Ultimate Beneficial Owners (UBOs), validation of official documents, and screening against sanctions and compliance lists.

How does the KYB process work?

Here’s a step-by-step explanation of how the process works:

1. Creating the AiPrise Account

To begin the verification process, our team will create an AiPrise link to gather your entity’s information.

Once you click the link provided, you can start the verification process immediately.

2. Submitting Company Information

When starting the process, you will be asked to submit your company’s registration details (legal name, country of registration, identification number, address, etc.) along with the required documents. All information and files are submitted directly through the AiPrise platform.

The platform offers a simple and intuitive experience for submitting your business information and uploading documents in steps.

💡You can save your progress at any time and return later without losing any of the data you’ve already entered.

Check the complete list of documents required for KYB

This is the standard documentation to be uploaded at the end of the KYB process. Please ensure that the information in the documents (names, addresses, etc.) matches the details provided in the previous steps, as any discrepancies could delay the verification process.

📄 Standard Documentation:

Business Registration Document
Shareholders Registry or Cap Table
Bank Statements (most recent three, covering 90 days)
Tax Certificate or Proof of Tax Registration
Organizational Chart (if owned by another company)
Directors Registry (if applicable)
Articles of Incorporation or Memorandum of Association
Proof of Registered Address
Proof of Physical Operating Address (e.g., utility bill, lease, or similar)
Authorization to Act on Behalf of the Company (Legal Representative or Director)
Supporting Documentation for Institutional or Significant Investors (owning more than 5%)
Proof of Regulatory Authorization or License (if applicable)
AML Policy or Compliance Statement (if applicable, depending on jurisdiction or activity)
Beneficial Owner Identification Documents (Government ID, passport, or equivalent)

Note: Document naming conventions may differ by country, but all documents serve the same verification purpose.

📄 Supplemental Documents Required – Enhanced Due Diligence

Operating License
Independent AML or Compliance Program Audit Report
Supporting documentation for institutional investors (e.g., shareholder registry, cap table, investment agreement)

Note: Depending on your jurisdiction, document names may differ, but they must serve the same compliance and verification purpose.

3. Automated Verification by AiPrise

The platform performs real-time automated verification of the submitted data and documents, cross-checking them with public and international sanctions and compliance databases, such as:

PEP (Politically Exposed Persons) lists
Global sanctions lists (OFAC, UN, EU, among others)
Official corporate registries

This process ensures that the company is properly registered and that its representatives and beneficial owners do not present regulatory risks.

4. Review and Approval

After the automated checks, Conduit’s compliance team reviews the results and, if necessary, requests additional information. Once all checks are completed, the company is approved in the KYB process and can proceed with account activation and use of Conduit’s services.

5. Ongoing Updates

Even after initial approval, Conduit performs continuous monitoring to ensure that all clients remain compliant, automatically updating information and sanctions lists through AiPrise.

With KYB, your company gains the security it needs to operate worldwide, performing international transactions with transparency and peace of mind.

❔Questions? Contact the Conduit Team

Still have questions about your KYB process? Reach out to the Conduit support team - we’re ready to help!

If you encounter any issues during the KYB process, please contact us at compliance@conduitpay.com for assistance.

Frequently asked questions

Can you reverse or recall a payment?

Once a payment is completed, it can only be recalled. However, a recall may take up to 7 business days and should only be requested in urgent cases.

Incoming payments: Personal accounts cannot send funds to Conduit (blocked/rejected).
- Exception: Transfers over $100K USD may be allowed with prior compliance approval.
Outgoing payments: Funds cannot be sent to personal accounts.
- Exceptions: Payroll providers and approved payroll transactions for staff/contractors (subject to due diligence).

For more details, check out our blog on Payments to and from Individuals.

What information can I get to track a payment with my beneficiary bank?

The information required to track a payment depends on the payment method used:

Domestic wires: You will need the IMAD (Input Message Accountability Data) or OMAD (Output Message Accountability Data) reference. These unique identifiers are assigned to wire transfers within the U.S. financial system and help banks locate transactions in their system.
SWIFT payments: You will need the MT103 document, which serves as proof of payment in international wire transfers. This message contains details such as sender and beneficiary information, transaction reference, and timestamps.

I have submitted a payment with incorrect payment instructions, how long does it take for the wire to return?

Payments are typically returned the same day, subject to the operational hours of the beneficiary bank. The Payment Ops team will notify you as soon as the returned payment is received.