Why KYB matters
KYB is required to:
Comply with financial regulations
Reduce the risk of fraud, money laundering, and illegitimate business activity
Confirm that each client is a registered and verifiable entity
By verifying the legal business name and registration number, we help protect all parties involved and establish a foundation of transparency and trust.
When KYB is triggered
KYB verification is automatically triggered when a client enters both:
Their legal business name
Their business registration number
This real-time check allows for early detection of inconsistencies or potential compliance risks.
How to monitor KYB status
You can track KYB status directly in Paiday Payroll:
Navigation:
Company > Business entity > KYB & AML
There, you’ll see:
Real-time verification status
Any flags or pending items that require action
Immediate alerts if something needs follow-up
💡 Note: KYB must be fully completed before the client can run live payroll.
What to do if there's a flag
If a KYB flag appears:
You'll be notified in Paiday Payroll
Clear instructions will be provided, including:
When to contact the client
What documentation or corrections are required
Working through these steps ensures a smooth and compliant onboarding process for your clients.
Disclaimer: This article is not intended to provide tax, legal, benefits, financial, or HR advice. Since laws and regulations are subject to change and may differ by location, please consult a legal or HR professional for personalized guidance.