Running KYB

Introduction

After your business has provided the information necessary to create a Business resource and you have added any beneficial owners, you need to authenticate and verify that information. Using the Business object, you can perform a number of checks and screenings to ensure compliance. This process is controlled the Bond platforms's KYB service.

▶ Run in Postman

This process is a critical step where you validate the identity of your business and its documents to ensure that they're compliant with federal regulations.

🚧
Requirement
Before running KYB, make sure that the business resource contains ein and phone values and that these are correct.
See Retrieving a business to view the ein and phone status, and Updating a business to modify them if necessary.

Running the KYB process

To start the KYB process, use the POST /businesses/{business_id}/verification-kyb operation with no further parameters.

An example of a request to initiate a KYB process for the business ID 002e0f0e-e39d-4351-876c-afcad30d9c37 is shown below.

curl --request POST \
  --url https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb \
  --header 'Authorization: YOUR-AUTHORIZATION' \
  --header 'Identity: YOUR-IDENTITY'

require 'uri'
require 'net/http'
require 'openssl'

url = URI("https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb")

http = Net::HTTP.new(url.host, url.port)
http.use_ssl = true

request = Net::HTTP::Post.new(url)
request["Identity"] = 'YOUR-IDENTITY'
request["Authorization"] = 'YOUR-AUTHORIZATION'

response = http.request(request)
puts response.read_body

const options = {
  method: 'POST',
  headers: {
    Identity: 'YOUR-IDENTITY',
    Authorization: 'YOUR-AUTHORIZATION'
  }
};

fetch('https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb', options)
  .then(response => response.json())
  .then(response => console.log(response))
  .catch(err => console.error(err));

import requests

url = "https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb
headers = {
  'Identity': YOUR-IDENTITY,
  'Authorization': YOUR-AUTHORIZATION,
  'Content-Type': 'application/json'
}

response = requests.request("POST", url, headers=headers, data = None)

print(response.text.encode('utf8'))

var client = new RestClient("https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb");
var request = new RestRequest(Method.POST);
request.AddHeader("Identity", "YOUR-IDENTITY");
request.AddHeader("Authorization", "YOUR-AUTHORIZATION");
IRestResponse response = client.Execute(request);

OkHttpClient client = new OkHttpClient();

Request request = new Request.Builder()
  .url("https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb")
  .post(null)
  .addHeader("Identity", "YOUR-IDENTITY")
  .addHeader("Authorization", "YOUR-AUTHORIZATION")
  .build();

Response response = client.newCall(request).execute();

When you initiate a KYB process, the KYB service responds with an initialized message similar to the one shown below.

{
    "business_id": "002e0f0e-e39d-4351-876c-afcad30d9c37",
    "kyb_status": "initialized"
}

The results of the KYB are sent via a webhook.

If a business fails the KYB check and they can't pass a manual check, you can't issue them a card.

For a complete specification and interactive examples, see Running KYB in the Bond API Reference.

KYB webhook events

Possible responses to a KYB request are shown in the following table.

Event enum values	Description
`kyb.verification.approved`	KYB passed.
`kyb.verification.warning`	KYB requires manual review. The response contains any business information which could not be verified.
`kyb.verification.rejected`	KYB failed due to low confidence in identity validation.
`kyb.verification.error`	KYB failed due to a server error. To retry, send a `POST /businesses/{business_id}/verification-kyb`.

Possible responses to a KYB check are shown below.

{
    "event": "kyb.verification.approved",
    "business_id": "002e0f0e-e39d-4351-876c-afcad30d9c37",
    "occurred_at": "2021-02-02-00:50:58.484840+00:00"
}

{
    "event": "kyb.verification.rejected",
    "business_id": "002e0f0e-e39d-4351-876c-afcad30d9c37",
    "occurred_at": "2021-02-02-00:50:58.484840+00:00",
    "details" :[
        {
        "code": "rejected_address",
        "reason" : "address verification failed"
        }, 
        {
        "code": "rejected_tin",
        "reason" : "TIN verification failed"
        },
        {
        "code": "rejected_name",
        "reason" : "name verification failed"
        },
        {
        "code": "rejected_watchlist",
        "reason" : "watchlist verification failed."
        }
      ]
    }

{
   "event":"kyb.verification.warning",
   "business_id":"002e0f0e-e39d-4351-876c-afcad30d9c37",
   "occurred_at":"2021-02-02-00:50:58.484840+00:00"
}

{
    "event": "kyb.verification.error",
    "business_id": "002e0f0e-e39d-4351-876c-afcad30d9c37",
    "occurred_at": "2021-02-02-00:50:58.484840+00:00"
}

Retrieving the KYB status

To retrieve the KYB status of a business, use the GET /businesses/{business_id}/verification-kyb operation with no further parameters.

An example of a KYB status retrieval request is shown below.

curl --request GET \
  --url https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb \
  --header 'Authorization: YOUR-AUTHORIZATION' \
  --header 'Identity: YOUR-IDENTITY'

require 'uri'
require 'net/http'
require 'openssl'

url = URI("https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb")

http = Net::HTTP.new(url.host, url.port)
http.use_ssl = true

request = Net::HTTP::Get.new(url)
request["Identity"] = 'YOUR-IDENTITY'
request["Authorization"] = 'YOUR-AUTHORIZATION'

response = http.request(request)
puts response.read_body

const options = {
  method: 'GET',
  headers: {
    Identity: 'YOUR-IDENTITY',
    Authorization: 'YOUR-AUTHORIZATION'
  }
};

fetch('https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb', options)
  .then(response => response.json())
  .then(response => console.log(response))
  .catch(err => console.error(err));

import requests

url = "https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb"

headers = {
  'Identity': YOUR-IDENTITY,
  'Authorization': YOUR-AUTHORIZATION,
  'Content-Type': 'application/json'
}

response = requests.request("GET", url, headers=headers)

print(response.text.encode('utf8'))

import requests

url = "https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb"

headers = {
    "Identity": "YOUR-IDENTITY",
    "Authorization": "YOUR-AUTHORIZATION"
}

response = requests.request("GET", url, headers=headers)

print(response.text)

OkHttpClient client = new OkHttpClient();

Request request = new Request.Builder()
  .url("https://sandbox.bond.tech/api/v0/businesses/002e0f0e-e39d-4351-876c-afcad30d9c37/verification-kyb")
  .get()
  .addHeader("Identity", "YOUR-IDENTITY")
  .addHeader("Authorization", "YOUR-AUTHORIZATION")
  .build();

Response response = client.newCall(request).execute();

{
   "business_id": "002e0f0e-e39d-4351-876c-afcad30d9c37",
   "kyb_status": "rejected",
   "details" :
   [
    {
      "code": "rejected_address",
      "reason" : "address verification failed"
    }, 
    {
      "code": "rejected_tin",
      "reason" : "TIN verification failed"
    },
    {
      "code": "rejected_name",
      "reason" : "name verification failed"
    },
    {
      "code": "rejected_watchlist",
      "reason" : "watchlist verification failed."
    }
  ]
}

{
   "business_id": "002e0f0e-e39d-4351-876c-afcad30d9c37",
   "kyb_status": "approved",
}

For a complete specification and interactive examples, see Retrieving the KYB status in the Bond API Reference.

Introduction

🚧Requirement

Running the KYB process

KYB webhook events

Retrieving the KYB status

🚧
Requirement