FBA Finance Docs
  • Welcome to FBA Finance
  • Introduction
    • What is FBA Finance all about?
    • The problem we're solving
    • Our mission and vision
    • Features
  • Understanding ROSCAs
    • What is a ROSCA ?
    • Traditional ROSCAs vs. FBA Finance's approach
    • Benefits of blockchain-based ROSCAs (FBA Pool)
  • User Guide
    • Creating an account
    • KYB process
    • FBA Pool
    • Understanding Your Profile
    • Getting Help
    • Tools
    • Education and Mentorship
  • Pool Management
    • Creating a pool
    • Joining existing pools
    • Pool Parameters
    • Resolving conflicts or issues within a pool
    • Collaboration tools for pool members
  • Tools
    • Introduction to FBA Finance Business Tools
    • Financial Management Suite
      • Automated Bookkeeping
      • Invoicing System
      • Expense Tracking
    • Inventory Management
    • Cash Flow Forecasting
    • Payroll Management
    • Human Resources
      • Applicant Tracking System
      • Employee Onboarding
      • Learning Management System
    • Project Management
      • Task Assignment and Tracking
    • Collaboration and Communication
      • Team Chat and Video Conferencing
      • Document Sharing and Co-editing
    • Marketing
      • Social Media Post Management
  • Mentorship Program
    • Overview of the mentorship program
    • Becoming a mentor
  • FBA Finance Marketplace
    • Overview of the Marketplace
  • The FBA Algorithm
    • What is the FBA Algorithm
  • FBA AFFILIATE PROGRAM
    • How it works
  • Fees and Charges
    • Overview of fee structure
    • Comparison with traditional financing options
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  • What is KYB
  • Why is KYB Important ?
  • Our KYB Process

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  1. User Guide

KYB process

Verify your business identity to join our secure financial community.

At FBA Finance, we're committed to creating a secure and trustworthy environment for all our users. Our Know Your Business (KYB) process is a crucial step in achieving this goal. It helps us verify the legitimacy of businesses joining our platform, comply with regulatory requirements, and protect our community from potential fraud.

What is KYB

Know Your Business (KYB) is a due diligence process that helps us understand who we're doing business with. It involves verifying the identity of business owners, understanding the nature of the business, and assessing potential risks associated with the business.

Why is KYB Important ?

  • Regulatory Compliance: KYB helps us comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.

  • Risk Management: By thoroughly vetting businesses, we can better manage risks within our platform.

  • Trust and Security: KYB helps ensure that all members of our community are legitimate businesses, fostering a secure environment for collaboration and financial activities.

Our KYB Process

  • Information Gathering We collect essential information about your business, including:

    • Business name and registration number

    • Business address and contact details

    • Names and identification of beneficial owners (those owning 25% or more of the business)

    • Nature of business and industry

    • Product/Service information

  • Document Verification We'll ask you to provide several documents to verify the information you've provided:

    • Certificate of Incorporation or equivalent

    • Proof of business address (recent utility bill or bank statement)

    • Government-issued ID for all beneficial owners

    • Tax registration certificate

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Last updated 8 months ago

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These are the steps and items required to complete our KYB , there are more extensive vetting process like the that will vet all businesses entering an . The tools , education and mentorship do not need vetting from the algorithm but we will also have free tools that businesses can use to vet themselves and know where they stand on the credit scale.

FBA Algorithm
FBA Pool