Under KYC Integration

Learn about the Under KYC integration and how this tool can enhance your Under experience.

Overview

This integration allows you to quickly run know your customer (KYC) or know your business (KYB) checks in order to verify that the customer or business you are dealing with is legitimate.

With a KYC, we validate the customer based on their name, address, date of birth, and social security number. 

How to Setup Integration

The KYC and KYB integrations are available out of the box with your Under account. The integration can easily be toggled on/off completely in the Integrations page, but when turned on, the integration is ran automatically when an application is completed.

In order to ensure that you have the requisite fields needed to run a KYC check, go to the application you are planning to use, then open the Elements tab on the left-hand sidebar and ensure that the following fields are a part of your application:

• First Name (firstName)
• Last Name (lastName)
• Email (email)
• Phone (phone)
• SSN (applicantSSN)
• DOB (applicantDOB)
  
  OR
• Multiple Owners (multipleOwners component)

View/Run KYC in Under

In order to view detailed results from the KYC integration, follow these steps:

1. Go to the Customers homepage, then select the customer where you would like to view and/or edit customer information.
2. In the customer record, ensure that you have selected the Integrations tab.
3. From the tiles of active integrations, select Under KYC/KYB.
4. Ensure that KYC is selected, then click Run Integration to view integration results.

Validation Sources

In order to run the KYC check, we utilize multiple sources including Ekata, Iovation, IDology, and ID Analytics to ensure that you can identify whether or not the business owner who completes an application is who they say they are.

Ekata

Ekata verifies identity information leveraging over 5B global identity records from telecoms, postal authorities, cable/utilities, directory assistance, and credit bureaus. Alloy uses attributes for phone and email verification as part of the Best Practices workflow, including email validity, email to name match, email first seen, disposable email domain.

Iovation

Iovation provides device reputation and behavioral insights for fraud detection and consumer authentication from a network of 3 billion known devices and 30 million detailed fraud reports.

IDology - ExpectID

ExpectID uses a multi-layered process to access thousands of data sources containing billions of public records to instantly validate an identity while also providing predictive, intelligent information around that identity. This enables you to make quicker and smarter decisions on what to do next: approve, deny, or escalate.

ExpectID’s identity proofing process is so fast and seamless that it happens without interruption to the transaction and without customer interaction. To help ensure an optimal customer experience, ExpectID is able to verify identities using just the customer’s name and address, so your customers will be comfortable with the amount of information they are required to share. That means there is no need for customers to disclose typical identity documents (like driver’s licenses or other photo ID cards) or more personal information and data (like social security numbers or date of birth), which is information that can put people at risk for identity theft and fraudsters if mishandled or unsecured.

ID Analytics

ID Analytics maintains a consortium network of real-time identity events from traditional & alternative financial services institutions (auto, mortgage, bankcard, retail card, DDA, telecom, utilities, specialty finance, and marketplace lending.) ID Score evaluates SSN, Name, Address, Phone, DOB, and email produce a single, comprehensive assessment of fraud risk at the time of application. The score rank-orders the risk that the applicant is not the owner of the identity on an application using velocity and instances of suspected or confirmed fraud.