KYC/KYB & Travel Rule: Practical Integration Considerations
Overview
KYC (individuals) and KYB (entities) are foundational to onboarding. The Travel Rule requires sharing originator/beneficiary data with certain transfers.
Architecture
- Unified onboarding service with case management
- Event‑driven updates to CRM and risk systems
- Wallet intelligence & blockchain analytics
- IVMS101 messaging
Process
- Collect & verify identities
- Risk‑rate customers
- Screen wallets & jurisdictions
- Transmit/receive Travel Rule data
Interoperability
Design for multiple counterparties/custodians; validate schemas and error handling, automate evidence retention.
Testing & Rollout
Use sandbox credentials and replay flows. Track false positives, time to onboard, and delivery rates.