Know Your Business (KYB)

Unblock API incorporates Know Your Business (KYB) processes to ensure compliance and verify the legitimacy of corporate entities using our platform. This guide details the KYB process, integration steps, and statuses relevant to corporate users.

🤔 Why KYB?

KYB is a regulatory requirement, similar to KYC for individuals, but focused on corporate entities. It is crucial for:

Verifying Corporate Legitimacy: Ensuring you are dealing with legitimate and legally registered businesses.
Compliance with AML/CTF Regulations: Preventing your platform from being used for illicit financial activities by corporate entities.
Establishing Trust and Security: Maintaining a secure and compliant ecosystem for all users.

🏢 KYB Process for Corporates

The KYB process for corporate entities involves several key steps, ensuring thorough verification:

Administrator User KYC: The process begins with the Administrator of the corporate entity. This individual must first complete the individual KYC process. This ensures that the person managing the corporate account is also verified. Refer to the KYC Guide for Individual Verification

Corporate Entity Creation: Once the Administrator's KYC is complete, you can proceed to create the corporate entity within the Unblock system.

curl --request POST \
     --url https://api.getunblock.com/corporate \
     --header 'Authorization: API KEY' \
     --header 'accept: application/json' \
     --header 'content-type: application/json' \
     --data '
{
  "type": "LIMITED_LIABILITY",
  "contact_details": {
    "name": "John Doe",
    "email": "[email protected]",
    "phone": "+44787878787878"
  },
  "registered_address": {
    "address_line_1": "1 drive",
    "post_code": "NG72DU",
    "country": "GB"
  },
  "legal_name": "Unblock ltd",
  "registration_number": "12345",
  "target_address": "0x8C8D7C46219D9205f056f28fee5950aD564d7465"
}
'

Administrator Setup: During corporate creation, ensure the designated administrator user (who completed KYC) is correctly linked to the corporate entity. This is typically done by adding the administrator's user_uuid to the corporate during creation or immediately after using the /corporate/{corporate_uuid}/user endpoint. See Create Corporate API, See Add User to Corporate API

curl --request POST \
     --url https://api.getunblock.com/corporate/b13deca4-7051-485c-9f6d-6b99d3a46043/user \
     --header 'Authorization: API-Key Rw6S6geZDASAjf/lOnf86PlzlzZ6VEYTiQzzVuN8fmhYdxaGhaWmgyqus5B3eFaC' \
     --header 'accept: application/json' \
     --header 'content-type: application/json' \
     --data '
{
  "user_uuid": "9a9a7b16-848e-4221-82d0-a9fabec04e4c",
  "role": "ADMINISTRATOR"
}
'

KYB Documentation Submission via Hosted Form: Unblock utilizes a hosted form for secure KYB document collection.
- Retrieve KYB Application URL: Use the /corporate/{corporate_uuid}/kyb/applicant/url to obtain a unique URL for the KYB submission form.
```
curl --request GET \
     --url https://api.getunblock.com/corporate/a72cb622-8951-429e-82c7-cdb178392012/kyb/applicant/url \
     --header 'Authorization: API-Key {{API KEY}}' \
     --header 'accept: application/json' \
     --header 'unblock-session-id: a72cb622-8951-429e-82c7-cdb199448fd8'
```
- Embed the Form: Embed this URL into your platform's interface. The Corporate Administrator will access this link to complete the KYB form and securely upload all necessary corporate documents. Embedding the form as an iframe is a common and recommended practice as it isolates the external content within your page. The link obtained from the API endpoint can be embedded in a webpage using the following iFrame code (dynamically replace corporate_uuid=):
```
<div data-tf-widget="QGjCZNZB" data-tf-opacity="100" data-tf-iframe-props="title=Know Your Business" data-tf-transitive-search-params data-tf-medium="snippet" data-tf-hidden="corporate_uuid=" style="width:100%;height:500px;"></div><script src="//embed.typeform.com/next/embed.js"></script>
```
- Form Completion: The Corporate Administrator is guided through the form to provide corporate details, ownership structure, and upload required documentation. Get Corporate KYB URL API
KYB Verification Process: After the Corporate Administrator submits the KYB form and documents, Unblock's compliance team reviews the information. This process may take longer than individual KYC due to the complexity of corporate structures.
Webhook Notifications: You will receive real-time updates on the KYB verification status via KYB webhooks. These webhooks will notify you of status changes throughout the KYB process.

KYB Statuses for Corporates

Corporate entities progress through these KYB statuses. Monitor KYB webhooks to track status changes and update your application accordingly.

Status	Description	Next Steps / Considerations
`CREATED`	Corporate entity has been successfully created in the Unblock system.	Proceed to guide the Corporate Administrator to the KYB documentation submission process.
`KYB_PENDING`	Corporate KYB verification is in progress.	KYB verification process may take some time. Keep the Corporate Administrator informed of the pending status.
`ACTIVE`	Corporate KYB verification successful, corporate entity is approved and fully active on the platform.

⚙️ API Endpoints for KYB

Category	Endpoint	Description
KYB	`GET /corporate/{corporate_uuid}/kyb/applicant/url`	Get URL for Corporate KYB submission form

🔔 Webhooks for KYB Updates

Stay informed about KYB status changes by subscribing to KYB webhooks. These webhooks provide real-time notifications on the progress of corporate verification. See KYB Webhook details

By implementing Unblock's KYB process, you ensure that your platform remains compliant and secure when onboarding corporate clients, fostering a trusted environment for all users.