You’ve decided to launch a new fintech. Or perhaps it’s a new type of crypto exchange. You already built your product and are just about to launch when somebody asks you about AML… Everything grinds to a halt.
AML stands for Anti-Money Laundering and is a legal requirement for some companies, such as fintechs, neobanks, remittance providers, etc. Without it, you’re not allowed to onboard any customers.
You probably didn’t start the business to deal with the plumbing of the financial system or regulation, so anything that doesn’t make you jump out of bed in the morning shouldn’t be on your plate.
With the bronID API, you can automate your Anti-Money Laundering compliance. This includes performing KYC (individuals) and KYB (business) verifications when onboarding new customers.
If you’re not sure whether you need to comply with AML regulation you can check out this post: Do I need an AML program?
In this series of articles we’re going to go through:
- Where to find sample code
- The API documentation
- Setup a sample project
- Implement the API
- Run a KYC verification
- Run a KYB verification