word

Know Your Customer

noh yor KUS-tuh-mer

/noʊ jɔːr ˈkʌstəmər/

Listen

Hear it in a clear American voice. Slow it down to catch each syllable.

Syllable breakdown

knowyourcustomer

Dictionary meaning

A mandatory regulatory and compliance process in which financial institutions verify the identity, suitability, and financial risk profile of their customers before and during a business relationship, designed to prevent money laundering, terrorism financing, fraud, and other financial crimes; abbreviated as KYC.

Examples

The bank's know your customer process required applicants to submit government-issued ID and proof of address.
Fintech companies use AI-powered know your customer tools to automate document verification and reduce onboarding friction.

Synonyms: KYC, customer due diligence, identity verification

Learn one new pronunciation a day

Get a word, name or idiom like “Know Your Customer” in your inbox — daily or weekly, free. Unsubscribe any time.

Something wrong? Suggest a correction