Know your customer (KYC)


At Teya, we take our responsibility to prevent financial crime very seriously. This can include money laundering, terrorist financing, and other illegal activities. We’re a regulated financial services provider, so we’re required to do due diligence on all our customers to make sure we know who is using our services and for what purpose.


As part of this, we carry out ‘know your customer’ (KYC) checks. We collect essential information from customers to verify their identity before or during the process of entering into a new business relationship.

What is KYC?

KYC is a customer verification process. In the financial services realm, it is necessary to evaluate the client's risk in terms of money laundering, terrorist financing, and other illicit activities.


How do we conduct KYC?        

We have a comprehensive KYC process that requires our customers – both individuals and businesses – to give us certain information such as their name, address, and government-issued identification documents. We use this information to verify the existence and purpose of the business and to verify the identity of the individuals linked to the business.

For KYC verification we’ll use digital identification services where applicable. It's a verification questionnaire that you need to complete, divided into two parts:

  • The first part is a screen requesting the legal representative personal information.

  • The second part is a flow for the legal representative to verify their identity.


What do you need to do?

As our valued customer, you play an important role in our KYC process. To help us maintain the integrity of our services and prevent financial crime, we ask you to:

1. Provide accurate information: please provide us with accurate and up-to-date information about yourself to help us verify your identity.

2. Cooperate with our KYC procedures: please cooperate with our KYC procedures and provide us with any additional information or documents that we may request.

3. Report any suspicious activity: if you notice anything suspicious or unusual when using our products (for example, if you see transactions that you don’t recognise), please report them to us immediately.


When you receive a request to complete a KYC verification, the first step you’ll need to do is to log in with your Teya ID credentials. This will give you access to the required KYC questionnaire.

Note – if you haven't registered or don't have an account yet, please create one to finalise the KYC process. For guidance on setting up your user access, read more in the Teya ID article.

Once you're logged in, provide all the needed details and follow the on-screen instructions. Upon successful completion of the KYC questionnaire, a confirmation of its submission will be displayed on the screen.

Important – all information provided as part of the KYC process is used and stored in accordance with data protection laws. 


We hope that this information has helped you to understand our KYC procedures and why they’re important for keeping your business and the wider market safe from financial crime. If you have any questions or concerns, please don’t hesitate to contact our Customer Support team.