Overview

Know Your Customer (KYC) is a compliance process to verify user identity before they can perform operations like on-ramp and off-ramp transactions. KYC ensures compliance with local and international regulatory standards, enabling secure and trustworthy transactions.

Types of KYC Processes

Saber provides two approaches to KYC:

KYC Sharing:
- Merchants perform the KYC verification independently and submit the user's KYC details to Saber for reference.
- Saber stores the information but does not perform verification.
- Bank account addition is required for Indian users (via API).
KYC SDK:
- Saber manages the entire KYC process, including document collection, verification, and status updates.
- Bank account addition for Indian users is automated.
- Ideal for merchants seeking a seamless, automated solution.

Steps in the KYC Process

Create the User:
- Before initiating KYC, ensure the user is created in the Saber system.
Complete KYC Verification:
- For KYC Sharing: Submit the user's details via API.
- For KYC SDK: Use the SDK to automate verification.
Add Bank Account (For Indian Users):
- Use the API or SDK to add or update bank account details.

Key Points

Indian vs. Non-Indian KYC:
- Indian Users:
  - Documents Required: Aadhaar and PAN.
  - Must add a bank account post-KYC approval.
- Non-Indian Users:
  - Documents Required: Passport or National ID and proof of address.
  - Bank account addition is not applicable as offramp services are currently only supported in India
KYC Approval:
- Only users with an approved KYC status can perform on-ramp and off-ramp transactions.
Bank Account Addition:
- Indian Users:
  - Post-KYC approval, adding a bank account is mandatory for transactions.
  - Can be automated via SDK or manually handled via API.
- Non-Indian Users:
  - This step is not required.

By offering two approaches, Saber ensures flexibility for merchants to choose the process that best fits their operational needs.