KYC (Know Your Customer)

The mandatory process of verifying a customer's identity and address before onboarding.

KYC is the regulatory process by which banks and financial institutions verify the identity, address and risk profile of customers using documents like Aadhaar and PAN. It underpins anti-money-laundering (AML) compliance and must be periodically updated. It is central to the IIBF AML/KYC certification.