Summary:
KYC (“Know Your Client”) is a mandatory process that helps financial institutions verify a client’s identity, assess risk, and comply with anti-money laundering laws.
At FrontFundr, the KYC process asks for information such as your name, address, age, investor status, financial assets, employment, and risk tolerance. This ensures compliance with regulations and helps match you with investments suited to your financial goals.
Why our KYC process is needed
The Know Your Client (KYC) process is a fundamental, mandatory step for all financial institutions and businesses when establishing or maintaining accounts.
Its primary purpose is to help us assess an investor's risk profile and fulfill our legal obligations under anti-money laundering laws by researching a client’s identity, financial activities, and potential criminal risk.
What FrontFundr asks for the KYC process
The information we ask you to verify helps us achieve two crucial goals:
Verify your identity and secure your account: We partner with Persona to help verify ID and comply with all necessary KYC regulations.
Personalize your investment journey: To help us select investments that are aligned with your financial goals.
Key items we will ask you to provide:
Personal details: Government ID, name, proof of address, age and image of yourself.
Financial profile: Employment status and financial asset information.
Investor preferences: Your specific investor status and assessed risk tolerance.
Providing this information allows us to comply with our KYC regulations while giving us the insights needed to help you find investments that are aligned with your long-term objectives.