Get (KYC/AML) Status

Overview

For improved timing and transparency, DriveWealth offers API endpoints and Events that enable a Partner to identify the real-time KYC status of a user. While there are 3 different paths that can be taken, with each having its unique requirements and characteristics, the determination will ultimately be made in part based on the Partner's CIP programs and licenses, as well as the jurisdictions in which it operates. Your dedicated Integration Rep can help identify which category you fall into.

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Full Guide Available

Visit 🔒 the KYC guide and its sub-pages for further detail on KYC/AML workflows.

KYC Type

Requirements

No KYC

Partner has a signed Reliance letter with DriveWealth, and its KYC/AML policies and procedures have been approved by DriveWealth Compliance

Verify KYC

DriveWealth Compliance team has approved Partners KYC/AML Policy Procedures

Do KYC

Partner does not have a robust KYC/AML program and is 100% relying on DriveWealth to perform CIP checks

Once an account has been created, the customer is then sent through DriveWealth's KYC program, where there could be a few various KYC status outcomes based upon the reviews done. Following are the different outcomes.

KYC Status

KYC Description

KYC_NOT_READY

Partner has not collected all required PII to initiate KYC checks

KYC_READY

Partner has collected all required PII and is ready for KYC (POST /accounts)

KYC_PROCESSING

User has been sent for KYC

KYC_APPROVED

User is KYC approved

KYC_INFO_REQUIRED

Users PII does not match for KYC, Partner will need to update PII using the PATCH /users request

KYC_DOC_REQUIRED

User will need to submit a document for verification

KYC_MANUAL_REVIEW

User is under review after either additional info provided or additional document has been uploaded

KYC_DENIED

User’s KYC has failed and needs to be resubmitted

Possible KYC Status Mutations