Know Your Business (KYB) API

Automated and simplified KYB functionality with Sila.

Know Your Business (KYB) API

Access Next-Level Security in Our KYB API

Security is vital when it comes to business-to-business money transfers and connectivity. With the KYB API, you rest easy knowing that KYB happens during onboarding. If the user can’t pass KYB, they can’t use your product or services.

Integratable KYB Makes Sense

Sila’s KYB API comes integrated with U.S. banking system connections for fast and secure business identity verification.

Compliance Should be Your Top Concern

Compliance Needs to be a Top Concern

Sila helps through OFAC screenings, SARs filing, KYC and KYB compliance reviews, AML guidelines, and periodic bank compliance audits.

Always On to Reduce the Risk

Always On to Reduce the Risk

We automate risk reduction and fraud protection since every Sila KYB API customer is granted access to our /request_kyb verification.

Choose the KYB Right for You

Sila’s KYB API offers different configurations. Choose what works for you based on the different types of businesses you service.

Ask Us About Our KYB API

What type of security best practices for KYB API is there?

Check our blog titled, “Know Your Customer (KYC): What is it and why is it important?” to learn about best practices with this process. Keep in mind we take care of most of the security best practices for you as part of our KYB API

What do end users need to provide for KYB verification?

Your users will need to provide: the business type, NAICS codes for the business category, approving business documentation, documentation about any beneficial owners (those who own 25% of a company), documentation about at least one controlling officer, documentation proving an individual’s relationships to the business, and potentially financial statements, licensure, and documents of incorporation

Can I use the KYB API internationally?

At this time we only support U.S. bank accounts and credit unions. It is possible to use our API in conjunction with international money transfer APIs such as Currencycloud, Corpay and Thunes.

How much do KYB transfers cost?

For businesses, KYB costs depend on the level of KYB you need. You can view our levels here. Credits, prices and product availability varies by tier.

How long does KYB approval take?

When a high-quality photo (i.e., no blur, no cut-off corners, no blocked text, no glare, and high resolution) of a supported document is uploaded, most KYB applications are approved within minutes. Some applications can take up to 24-72 hours to process.

What are the business requirements for KYB via API?

There are a number of compliance requirements businesses need to follow when using KYB in a financial app. For Grow and Scale plans, you’ll need to be incorporated in the U.S. and each of your end-users will need to pass SSN verification or EIN verification. Learn more about pre-qualification for KYB API access.

Where can I learn more about how Know Your Business (KYB) works?

Companies that interact with the US banking system and financial services need to verify the identity of their customers, even if they are businesses. That’s where KYB comes in.

KYB isn’t just “best practices;” it falls under financial compliance regulations incorporated in the USA Patriot Act (2001). Also encapsulated in these regulations are Know Your Customer (KYC), the customer identification program (CIP), and Anti-Money-Laundering (AML) regulations. 

What used to be known as Customer Due Diligence (CDD), financial compliance (KYC, KYB, CIP, and AML) is essential to provide secure financial services in the U.S. This will ensure a high level of security for your business, your customers, and the U.S. financial system.

Visit our KYB blog to learn more. You can read about the USA Patriot Act.

KYB Has Never Looked This Good

The Sila console provides real-time access to user documentation, approved users, and ongoing KYB verifications.

KYB API transactions for a low per API-request fee.

“We’ve been able to get up and running very quickly with a complex set of financial requirements. The Sila team’s knowledge and expertise has made it flawless. The API and platform is extremely flexible and will meet just about any money movement use-case you can think of.”

— Sasha M

Give the KYB API a try.

Our KYB API sandbox has no limits. It includes everything you need for identity verification, including documentation uploading and scalability.