KYC/AML General Information

It is possible to view, track, and update KYC and AML verification statuses from the admin page of TransactAPI.

KYC/AML Statuses

If utilizing the API method: performKycAml, which is the automated verification method, the status will be one of the following:

Pending - KYC/AML has been requested and is awaiting verification. If KYC/AML verification is not being handled by North Capital, the default status will stay as Pending.
Auto Approved - KYC/AML was successfully verified via North Capital’s automated system
Disapproved - KYC/AML status was not able to be approved

If utilizing the API method: requestKycAml, which is the manual verification method, the status will be one of the following:

Pending - KYC/AML has been requested and is awaiting verification. If KYC/AML verification is not being handled by North Capital, the default status will stay as Pending.
Disapproved - KYC/AML status was not able to be approved
Needs More Info - KYC/AML could not be verified based on the investor provided information. If NC requires more information to be uploaded to review the investor, the status will change to Needs More Info and details will be provided in the notes field under the party.
New Info Added - Once the above requested information has been uploaded, the KYC and/or AML status can be manually updated to New Info Added to notify the North Capital team to re-review.
Manually Approved - Proof of identification has been collected, compared against watch lists, and verified manually.

International Investors
It is common for international investors without a US address to fail the automated KYC/AML verification. In these cases, a passport will be required to manually verify the investor’s identity.

If at any point further assistance is needed, please refer to the Loom videos and knowledge base links at the bottom of this page before contacting [email protected].