Before getting into more detail about Know Your Customer - or KYC, a widely-used regulatory and compliance term, let’s take a short detour. You know what happens right before two people say the scariest two words in the world: “I DO”? Well, they go on dates. They learn each other's likes and dislikes. They meet friends, family and loved ones from both sides. All with the end goal of getting to know each other.
With that in mind, KYC steps are put in place so a company can be certain that their customers are who they say they are, before providing a platform for transactions or business deals of all shapes and sizes to take place.
Essentially, KYC steps are there to fulfill three important points:
- Meet regulatory requirements
- Provide customer protection
- Keep a company’s and customers’ reputations safe and sound
Safe, secure, compliant
An unreliable operator not only puts your money at risk, but may also compromise your financial information and lead to significant problems.
As a regulated financial services provider, Chipper Cash is committed to meeting the strict compliance and regulatory requirements and providing a platform our customers can trust. Having these robust standards in place offers everyone involved peace of mind. That’s peace of mind for our customers, regulators, Chipper team members and any other interested parties.
Here are just some of the ways we protect our customers’ funds and account information:
- We have a zero tolerance approach to suspicious activity and proactively close accounts where we have any concerns.
- We are regulated by authorities around the world and in every market where we operate.
- Our anti-fraud team works non-stop to keep our customers’ accounts and money protected.
So, if we ask to get to know you a little better along the way, it’s only because we care!