Today we’re expanding our identity verification solutions with new Know Your Customer (KYC) offerings that will streamline the way you onboard and verify customers.
We’re also introducing Know Your Business (KYB) workflows that will help you get to market faster by reducing the number of partners needed to launch a card program.
Building out KYC for your product can be a substantial build that includes third-party vendor selection and contract negotiation. The solutions we are releasing today give customers a turnkey option within our API that doesn’t require a separate contract and build with an additional vendor.
New identity verification workflows
Today’s launch introduces three new identity verification workflows in beta for individual and business onboarding:
- Advanced KYC: Offers two remediation paths to boost KYC acceptance rates
- Basic KYB: Offers a turnkey solution to verify and onboard businesses
- Bring Your Own KYB: Allows customers to use their own KYB onboarding solution
See our complete identity verification offerings below:
How our KYC and KYB workflows work
Bring Your Own KYC
Bring Your Own KYB
Check out our documentation to learn more about our KYC and KYB offerings.
More flexibility with “BYO” options
From the start, we’ve always designed Lithic’s developer tools to adapt to your business and product needs, not the other way around. These new offerings deepen that flexibility by giving you the option to use our turnkey solutions or to bring your own KYC and KYB tools.
We are only scratching the surface of what Lithic has to offer. With the addition of these new building blocks, we’re one step closer to making our platform the easiest way to build, launch, and scale card programs.
To access any of the KYC and KYB workflows in beta, please reach out to your Lithic representative.
Want to issue smart payment cards? Start building in our sandbox today.
*Note: While Lithic’s identify verification offerings can be an important part of ensuring your card program is compliant with relevant regulations, these offerings are intended to be used primarily for KYC/KYB compliance purposes, and not as a comprehensive fraud solution.*