Verified AG carries out compulsory KYC and AML checks on account holders registered on the Verified Network. Such checks apply to users registering through applications distributed by Verified as well as independent third party applications that connect to the Verified Network. Verified AG has no access to user data or assets on the Verified Network. The account management smart contracts report KYC data of new account holders to the customer servicing team.
Using a set of smart contracts, account holders can also view their transaction account statements. Business account holders can also upload bank and tax statements and provide company registration details for their on going credit assessments.