As a financial institution, we need to perform our due diligence in order to verify who you say you are, before we can let you make any transactions. This is where something called KYC or “Know Your Customer” comes into play. It is an important regulatory requirement that allows us to ensure the security of our platform and keep it free of money laundering and other fraudulent activities.
Our digital KYC process on the Rayn Application is powered by Onfido which is a fully automated KYC process that uses document verification and facial recognition to help us provide the best possible identity verification services to our users. It is also necessary to complete the KYC step in order to gain full access to your account dashboard.