What is KYC? Know your customer solutions

KYC stands for know your customer. And Moody’s is a global provider of automated KYC solutions.

We offer workflow and data-driven KYC services designed to digitally transform and streamline your customer onboarding and risk monitoring processes. Supporting with anti-money laundering compliance tasks and other risk management activity.

With our innovative KYC solutions, we help organizations across sectors and around the world complete compliance checks and collect the KYC documentation needed for verification, due diligence, and risk assessment.

Ready to talk about a KYC solution for your business? Please get in touch with the team at Moody's, we can arrange a call at your convenience.

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Flexible and tailored KYC

Every organization has its own approach to KYC compliance and risk management. So, Moody’s offers AI-enabled, innovative, and data-driven solutions that are customizable and flexible.

Your KYC solution can be configured around your business, its risk policies, and tolerance level. It can consider factors like your customer base, and the market you operate in.

Our solutions can help you simplify and streamline KYC activity. For more information about our KYC solutions, please book a demo with the team today.

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Customer testimonial—Deputy MLRO, St. James's Place

"One of our corporate strategies is to make it easier to do business with SJP, and that was a key objective for the KYC solution we chose. We wanted flexibility and the ability to switch data providers - and that’s what we got with Moody's."

Gavin Welch

Deputy MLRO, St. James's Place

Maxsight™—Moody's platform for automated KYC

Moody's Maxsight™ platform leverages the latest in advanced workflow technology, award-winning data, AI and analytics to digitally transform your KYC processes.

From orchestrating checks according to your risk policy to integrating datasets to collecting customer documentation to case management—the platform is there to help.

Customer onboarding
Customer due diligence
Enhanced due diligence
Perpetual KYC and monitoring

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3 features and benefits of our KYC offering

Innovative KYC

Create efficient, robust KYC processes using innovative solutions that help you maximize efficiency. Moody's is continuously innovating in a rapidly evolving risk landscape with AI-enabled solutions to empower your team to make data-driven, risk-based decisions.

Flexible KYC

Configuring your KYC compliance solution around your business and its requirements, and adapt it when productivity or efficiency gains can be made. And change your workflow or introduce new data checks to deal with changing threats and emerging risks.

Robust KYC

KYC processes can help you assess risk based on data checks you define. Even when onboarding corporate customers or screening complex organization structures, Moody's KYC solutions can help.

For more information about how our KYC solutions could support your business, please contact the team any time—we would love to hear from you.

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Frequently asked questions about KYC

KYC (Know Your Customer) verification is the process of confirming a customer's identity to help banks, financial institutions, and other regulated businesses prevent fraud, money laundering, and other financial crimes. Other businesses might carry out KYC too. A typical KYC verification process might involve:

Collecting key data: Name, date of birth, address, and ID number.
Verifying documents: Government-issued ID and proof of address (e.g., utility bills).
Using technology: Biometrics, facial recognition, and database checks.
Ongoing monitoring: To detect suspicious activity and reassess risk.

Like other businesses, KYC in crypto would be a process cryptocurrency providers or exchanges use to verify the identity of their users. This might involve verifying personal data (like name, address, and date of birth), screening for risks and collecting government-issued IDs. The purpose would be to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations and prevent fraud or other illicit activity.

KYC in banking is a process banks can use to verify the identity of their customers. It involves screening activity and data checks, as well as collecting documentation like government-issued IDs and proof of address to help confirm who a customer is and assess their potential level of risk. As banks are regulated around the world, a KYC process may be part of compliance activity aimed at helping to prevent fraud, money laundering, and other financial crimes.

Each organization can define its own approach to KYC activity, but there are common 5 stages used in a KYC framework.

Customer Identification Program (CIP) – Collecting and verifying basic identity information like name, address, and ID
Customer Due Diligence (CDD) – Assessing a customer's risk level based on their profile and other activity.
Enhanced Due Diligence (EDD) – Deeper checks might be applied for high-risk customers, including additional screening checks and/or asking for more documentation.
Ongoing monitoring – Periodic reviews of customer risk profiles might take place to assess if anything has changed over time, or a business might use a perpetual KYC approach, which looks at relevant risk factors across a customer base on a continual basis.
Reporting – Flagging and reporting suspicious activities to relevant authorities.

Disclaimer: This content is intended for informational purposes only and does not constitute legal, regulatory, or compliance advice.

KYC—Part of a bigger picture

Moody’s can support your organization with a range of compliance and third-party risk management solutions.

We offer solutions to support KYC and broader anti-financial crime activities—please get in touch for more information.

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Articles and insights on KYC

Generative AI in KYC workflows

GenAI has demonstrated the effectiveness of a conversation-based paradigm for human learning and understanding in assisted writing and coding, creating diet plans, booking travel itineraries, and so on. And KYC processes can similarly benefit from GenAI chat-based workflows - providing a natural, human-friendly user experience.

Customer due diligence (CDD) in banks | Risk management and financial crime compliance

Customer due diligence (CDD) is the process by which banks and other financial institutions (FIs) identify and verify individuals before they become customers, and how they then assess risk throughout a customer’s lifecycle. The CDD process helps banks understand and manage their entire client risk base and prevent financial crimes like money laundering and fraud.

Innovative risk monitoring with perpetual KYC: Transforming compliance and client lifecycle management in Financial Services

Perpetual KYC (pKYC) is the practice of maintaining accurate, up-to-date customer and counterparty records through an automated, integrated workflow of data checks that occur in near real-time. This continuous monitoring approach supports financial institutions to more promptly identify and respond to changes in customer-related risks that may warrant further due diligence.

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We would love to show you what Moody's KYC can do! Get a demo or alternatively, keep reading to discover more about how Moody's KYC can help you.

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What is KYC? Know your customer solutions

Flexible and tailored KYC