Relevant only to clients who have been notified that they are in-scope.
What’s changing?
We are making changes to our Know Your Customer (KYC) processes to ensure the highest compliance and service standards. As part of this update, we will be transitioning away from the outsourced KYC service model and moving to a fully in-house KYC approach. This means all KYC and due diligence checks will now be carried out directly by our compliance team.
Why is this changing?
We’re making this change to:
- Strengthen compliance and security by working directly with every customer we support.
- Align with evolving requirements from our banking and payment partners.
- Ensure our processes continue to meet the highest industry standards.
What will I need to do?
We will need to go through a KYC process with your customers. This means that:
- For your existing customers, you will need to provide us with KYC/CDD information in bulk for us to complete a KYC process.
- For your new customers, you will need to use our onboarding forms or our onboarding API. Both of these options will be available to you in our Demo environment for testing purposes.
What do I need to do now?
There is no action required immediately. We will be in touch with detailed information in plenty of time for you to meet the deadline.
When will this happen?
This will take place in the second half of 2026. We will communicate the exact date closer to the time.
What happens if I can’t meet the deadline?
As we will be stopping support for the outsourced KYC service model, clients who are unable to comply by the deadline will regrettably be subject to the start of our offboarding process.