Glossary

Digital identity glossary

Clear definitions for KYC, KYB, AML, EUDI Wallets, verifiable credentials, passkeys and bank account verification.

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KYC

KYC means Know Your Customer. It is the process businesses use to verify the identity of customers before allowing access to regulated accounts or services.

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KYB

KYB means Know Your Business. It is the process of verifying a company, its ownership structure and its business risk before onboarding it.

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AML

AML means Anti Money Laundering. It covers checks and controls used to detect and reduce financial crime risk.

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EUDI Wallet

The EUDI Wallet is the European Digital Identity Wallet framework for storing and presenting trusted digital identity credentials.

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Verifiable Credentials

Verifiable credentials are tamper resistant digital claims that can be presented and verified by relying parties.

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Bank Account Verification

Bank account verification confirms whether an account exists, belongs to the stated user or business and is safe for payments or payouts.

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Liveness Detection

Liveness detection checks whether a biometric verification attempt comes from a real live person rather than a spoof, photo or replay attack.

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Passkeys

Passkeys are passwordless login credentials based on cryptographic authentication that can reduce phishing and account takeover risk.

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