KYC stands for "Know Your Customer," and it refers to the process of verifying and gathering information about the identity and background of customers or clients. KYC procedures are commonly used in financial institutions, such as banks, as well as in other industries that require customer due diligence, such as insurance companies and investment firms.
The KYC process typically involves collecting various types of information from customers, such as their full name, date of birth, address, contact details, and official identification documents (e.g., passport, driver's license). This information is then verified through reliable and trusted sources, such as government databases or credit bureaus.
During the application process at Silverbird, we kindly request that you prepare your personal and corporate documents to facilitate the efficient completion of your Know Your Customer (KYC) checks. These documents are essential for verifying your identity and ensuring compliance with regulatory requirements. By having your documents readily available, you will help us expedite the KYC process and move forward with your application smoothly.