KYC stands for "Know Your Client" (or "Know Your Customer") and is a term used to describe standard procedures involved in verifying the identity of users.
KYC is important - not just for a business offering a particular service or product, like Brighty but especially for all of the other customers of a particular company.
This has to do with AML (Anti Money Laundering) measures, the prevention of criminal activity taking place via the misuse or abuse of a provided service or product and the managing of related risks.
KYC allows businesses to ensure that their customers are really who they claim they are, thereby protecting not only themselves but also all of the other customers (as potentially illegal or illicit activity would harm all stakeholders).
KYC measures usually consist of a so-called identity verification program and customer due diligence procedures.
At Brighty, the safety and protection of your data and your funds are of the utmost importance.
That is why we have a robust and dependable identity verification and due diligence process in place.
Together with our partner Sumsub, we operate a safe, smooth and efficient KYC program.
Brighty is committed to ensure full compliance with applicable regulations and legal provisions related to KYC for the sake of the safety and security of our users' personal information and their funds.