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KYB

The verification process U.S. financial institutions perform on a legal entity (LLC, corporation, partnership) before opening a business account.

Know Your Business (KYB) is the entity-verification counterpart to KYC. It checks the LLC's formation documents (Articles of Organization, Operating Agreement), EIN letter, beneficial-ownership disclosure (FinCEN BOI), and business address against authoritative databases. KYB providers (Middesk, Persona Business, Trulioo, Stripe Identity) parse the registered address through enrichment APIs and reject most CMRA-flagged or virtual-office addresses. KYB is where the largest share of non-resident account-opening attempts fail.

Also known asKnow Your Business, Business Verification, Entity Verification

Related terms

KYC — The legally required process of verifying the identity of an individual customer before opening an account.…
Middesk — A KYB-as-a-service provider that consolidates Secretary of State filings, EIN matches, watchlists, and BOI sig…
Address Enrichment — API services like Melissa, LexisNexis, Ekata, and SmartyStreets that classify a U.S. address by type, risk, an…
BOI Report — The FinCEN report under the Corporate Transparency Act that discloses each beneficial owner of a U.S. LLC or c…
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