KYC + Crypto Watchlist Solution

Overview

Persona’s KYC + Crypto Watchlist solution enables organizations to verify an individual’s identity through government-issued ID along with a selfie liveness check, and then screen their crypto wallet address against crypto watchlists. This solution is designed to help organizations meet compliance requirements for both identity verification and crypto-related risk screening.

In this guide, learn:

• What’s included in the solution
• How the components work together to verify identity and screen crypto wallets
• How to customize and extend this solution for your specific needs

What’s Included

The KYC + Crypto Watchlist solution includes the following components:

1 Inquiry Template

• Government ID Verification
  • Automatically collects all ID types by default, including US driver’s licenses and state IDs. You can modify the accepted ID types by following this guide.
  • Requires a Barcode Check which means that both the front and back of ID are collected. While this required check introduces some friction to the user experience, it greatly improves extraction accuracy and overall user experience.
  • Inquiry theme can be customized to match your company’s branding and user experience.
• Crypto Wallet Address
  • Collects crypto wallet address to flag any wallet addresses that might be sanctioned.
• Selfie Verification
  • Performs selfie liveness checks to confirm identity.
  • Inquiry theme can be customized to match your company’s branding.

1 Workflows

• Run 'Crypto Wallet Address Watchlist Report' on Inquiry Completed triggered on inquiry completion
  • Automatically reviews verification results and applies any additional business logic or decisioning rules.
  • Also triggers a Report for Crypto Watchlist screenings within the Workflow.
  • Can be extended to include additional actions such as flagging high-risk cases or triggering notifications.

1 Report Templates

• Crypto Watchlist Template
  • Automatically screens wallet address against crypto watchlists. This template helps you identify users flagged in regulatory databases relevant to financial crime and compliance.

KYC + Crypto Watchlist Solution Process

Here’s how the components work together to verify a user’s identity and screen their crypto wallet:

1. The Inquiry collects the user’s government ID and selfie liveness check, and screens crypto watchlists.
2. As part of the process a Government ID verification is run.
3. If the Government ID Verification passes, the Inquiry automatically prompts the user to conduct a Selfie Verification and subsequently the appropriate verification checks are run on the provided three-point Selfie.
4. Once the Inquiry is completed, the Run ‘Decision’ on Inquiry Completed Workflow is triggered to apply your decisioning rules and run required Reports for Crypto Watchlist screenings.

If you’re interested in using advanced solutions, beyond the KYC + Crypto Watchlist solution, to meet regulatory needs, contact your customer success manager or reach out to the Persona support team.

Plans Explained

Learn more about pricing and plans