ComPilot KYB
Know Your Business (KYB) checks are procedures that you can use to verify the details of businesses that you may want to do business with, and to assess potential risks. KYB focuses on understanding the businesses involved in blockchain transactions rather than individual identities, but the details of a KYB check can include KYC checks on the UBOs of the business. Because blockchain technology is decentralized and pseudonymous, KYB checks are extremely important for Web3 companies.
Blockchain KYB checks reduce the risks of fraud, money laundering, and financing of illicit activities. By conducting KYB checks on every business your company does business with, you can uphold regulatory compliance and safeguard your operations from legal risks, and protect your reputation. Good KYB processes foster trust among stakeholders, creating and developing a secure and trustworthy ecosystem.
Blockchain KYB checks involve comprehensive assessments of the entities participating in transactions. These checks include the legitimacy of the business, its ownership structure, its compliance with regulatory frameworks, and its risk profile. Because blockchains are inherently transparent, some parts of KYB are easier, such as tracing transaction histories and assessing the reputations of other parties. However, blockchains are decentralized, so KYB checks require specialized tools and techniques to gather relevant information.
ComPilot KYB uses these tools and techniques, allowing you to perform KYB checks using the ComPilot KYB Widget. Because it is an integrated provider, you do not need any additional accounts, licenses, or third-party agreements to use it.
Connecting
To connect ComPilot KYB, in the Dashboard menu, select Settings > Providers. The Providers page is displayed. Click the Connect button for ComPilot KYB.
You can also connect ComPilot KYB, if it is necessary, when creating a workflow or editing a step. In both these cases, the ComPilot Dashboard will display a modal with a Connect button.
Configuring
ComPilot KYB has a configuration for each workflow that uses it.
To configure ComPilot KYB, in the Dashboard menu, select Settings > ComPilot KYB. The ComPilot KYB configuration page is displayed. Select the workflow that this configuration will apply to and fill out the form on the page as described in the following sections.
You can also configure ComPilot KYB when it is used by a step in a workflow. On the workflow detail page, click the gear icon 
. A pane opens on the right of the screen with a form where the configuration can be edited. Fill out the form on the pane as described in the following sections.
Setup the appearance
Fill out the Setup the appearance form as described below.
| Field | Description |
|---|---|
| Name & website | The name of your application that uses the ComPilot Identity Widget. |
| Logo | Upload a logo to use with the widget. |
| Cover image | Upload a cover image. You can toggle the use of the image with the checkbox. |
| Branding | Select two colors for the widget that match your brand. You can also toggle the cover image on and off, and toggle the dark theme |
| Bottom content | Enter text, a website, and a link title for the bottom of the widget. |
Secure your integration
Enter the URL of the host of your application. You can enter multiple URLS by clicking the + Add another URL button.
In live mode, the widget will only work with the hosts specified here (and localhost).
Once you have set everything up, you can monitor activity and adapt your settings as required.