KYC (Know Your Customer) and KYB (Know Your Business) are recognition procedures designed to verify the identity of users who decide to use a banking or financial intermediary, such as banks, credit institutions or investment platforms. While KYC targets individuals, KYB affects legal entities.

The procedure aims at verifying and confirming the user's identity, using documents and information obtained from reliable sources, to protect both the user and the financial service provider throughout the duration of the relationship from any fiscal crime: corruption, online fraud, money laundering to terrorist financing.

The procedure applies when the client is not physically present for identification purposes. It is fully automated and can be performed either from a computer or a smartphone.

Today's regulations do not include crowdfunding platforms as recipients: notwithstanding, Walliance has adopted this procedure as a best practice for crowdfunding services as well, given its contextual SIM nature, to provide greater security for the user and for the portal itself.