Continuous Monitoring

In the dynamic landscape of merchant onboarding, information can change swiftly, posing challenges to maintaining compliance. Gratify KYB API offers Continuous Monitoring services to ensure that data remains accurate and up to date. By periodically re-enriching and re-verifying information, you can ensuring ongoing compliance.

Information That Expires

For documents or information with an explicit expiry, such as identification documents or credit cards, proactive management is essential. Here's how Gratify helps you manage expiring information:

• Preemptive Notifications: Automatically trigger notifications to individuals and businesses to obtain fresh documents before their expiry.

• Automated Re-processing: Once updated documents are received, automatically re-run enrichments, verifications, and rules using the new data. This ensures all processes are updated with the latest information, preserving data integrity.

Periodic Checks

Prevent stale and outdated information by periodically rerunning previous enrichments, verifications and rules. This can be done transparently for external data sources such as:

• Business Verification: Regularly cross-reference businesses against both global and country-specific directories. This ensures that business details such as registration status, address, and active director information remain accurate and reflect any structural changes or updates within the company.

• Regular AML Status Updates: Conduct periodic checks to ensure that individuals and businesses continue to remain absent from Sanctions and Politically Exposed Persons (PEP) lists, minimizing the risk of non-compliance due to status changes.

• Website Data Verification: Periodically verify online information — including company name, address, and contact details — to ensure it reflects current reality, adapting to changes in business operations or online presence.

In addition to passive monitoring, the system can actively request updated information:

• Phone & Email Re-verification: Send periodic OTP requests to merchants, confirming that the phone and email addresses on file remain valid communication channels.

• Business Data Re-verification: Ask merchants to confirm key business data, such as business name, address, and key personnel like directors. Upon receipt of updated data, automatically rerun enrichments, verifications, and apply rules based on these new inputs to ensure continued compliance.