Business Verification

Risk management is a priority, and Orum maintains a comprehensive Customer Due Diligence (CDD) program throughout the customer relationship. Our program involves two identification methods:

  • Know Your Customer (KYC) for persons
  • Know Your Business (KYB) for businesses

KYC involves identity verification of a person in addition to ensuring that customers are not on any government-sanctioned lists. We provide two options for verification:
BYO-KYC (bring your own)


BYO-KYB (bring your own KYB) allows you to conduct your own KYB process. To utilize this option, you must provide Orum with your BSA/AML Policy and procedures detailing your internal KYB process, in addition to a virtual walkthrough of the process with our compliance team. Orum reviews and verifies the adequacy of your KYB process in conjunction with our financial partner agreements and Federal Financial Institutions Examination Council (FFIEC) compliance.

For BYO-KYB, you need to conduct adequate identity verification on your individual customers. At a minimum, you must verify the following information at onboarding and on an ongoing basis:

  • Full legal business name
  • Physical address
  • Tax ID (TIN/EIN)
  • Incorporation date

Orum will still perform watchlist screening on all businesses, regardless of use case, at the time of onboarding and on an ongoing basis. Orum reserves the right to reject or restrict any customer from utilizing Orum's products or services, regardless of the use case.


Orum-KYB is an additional service we provide if you don't have a Customer Identification Program (CIP) established and don't plan to set one up for your platform. This option manages the complexities of creating and maintaining your own CIP in-house and puts the onus on Orum to verify the identities and ensure none of your customers are sanctioned individuals or business entities. We use third-party vendors to perform KYB verification on all Orum customers to verify their true identity before transacting with the Orum platform.

For Orum-KYB, we obtain and screen the following information through our third-party vendor at onboarding and on an ongoing basis.

  • Full legal name
  • Physical address
  • Tax ID (TIN/EIN)
  • Incorporation date

All businesses in Orum-KYB undergo watchlist screening, which provides constant monitoring and updates to various sanctioned lists (OFAC-SDN, OFAC NON-SDN, etc.).